Connect with us

News

“China has already offered SL a debt extension”

Published

on

The Export-Import Bank of China has provided Sri Lanka with a debt extension, China’s Foreign Ministry said on Monday, noting that China is willing to negotiate a medium- and long-term debt disposal plan with the country in a friendly manner, and do its best to promote Sri Lanka’s debt sustainability.

The remarks come as Bloomberg reported that the International Monetary Fund (IMF) is considering approving Sri Lanka’s bailout, even without the formal assurance of debt-restructuring support from China, citing people familiar with the discussions.

In response, Wang Wenbin, spokesperson for the Chinese Foreign Ministry, told a press conference on Monday that China has already provided Sri Lanka with a letter supporting the sustainability of Sri Lanka’s debt, expressing its willingness to extend the debt due in 2022 and 2023.

During the period, Sri Lanka will not have to repay the loan principal and interest of the Export-Import Bank, helping Sri Lanka to ease short-term debt pressure, the official said.

“We are willing to use this window to negotiate a medium- and long-term debt disposal plan with Sri Lanka in a friendly manner, and do our best to promote Sri Lanka’s debt sustainability,” Wang said.

The IMF, World Bank and Group of 20 nations chair India separately held virtual discussions Friday on global sovereign debt ahead of the finance ministers and central bank governors’ meeting in Bangalore this week.

The roundtable included officials from countries that have requested debt treatments under the G20 framework – Ethiopia, Zambia and Ghana – as well as middle-income countries such as Sri Lanka, Suriname and Ecuador, which have faced their own debt problems, Reuters reported.

The roundtable comes amid growing frustration over the slow pace of discussions on debt relief for some nations. Rather than seeking a global resolution, some have tried to blame China.

Chinese observers have urged developed countries to take more responsibility in addressing the debt risks faced by some nations, rather than using China as an excuse to shirk blame.

They pointed out that there are many reasons why some countries become mired in debt – the US Fed’s interest rate hikes, the global energy and food crises and other issues, warning some in the West to share the responsibility and seek a more “fair and just” solution.

(Global Times)

News

Postage stamp to be increased to Rs. 100 in July

Published

on

By

A proposal has been made to increase the price of an ordinary postage stamp to Rs. 100 by July, Mass Media Ministry Secretary Anusha Palpita said.

He told the Daily Mirror that the Postal Department is currently incurring an annual loss of Rs. 7,000 million.

“Last year, the loss was reduced to Rs. 3,200 million. However, with a salary increase for postal employees costing Rs. 2,800 million this year, the Postal Department’s loss will rise again to Rs. 7,000 million.” he said.

“If the losses continue to increase, it might reach Rs. 5 billion by 2025. Less than 1.5 million people use postage stamps, yet the entire country bears the burden of the Postal Department’s losses,” he added.

The price of a stamp was Rs. 15 until 2022, and the current price is Rs. 50.

“We are awaiting approval from the Treasury to raise the price of a postage stamp. This decision is necessary due to the ongoing losses of the Postal Department,” Palpita said.

(dailymirror.lk)

(This story, originally published by dailymirror.lk has not been edited by SLM staff)

Continue Reading

News

SL health officials urge public not to panic over flesh-eating bacteria

Published

on

By

Sri Lankan health authorities have urged the public not to panic about the spread of Streptococcal Toxic Shock Syndrome (STSS), or commonly known as ‘flesh-eating bacteria’.

Surging numbers of STSS cases across Japan have raised alarm globally.

Continue Reading

News

NDU delegation from China, visits Navy HQ (Pics)

Published

on

By

A National Defence University (NDU) delegation from the People’s Republic of China, currently in Sri Lanka as part of their overseas study tour, visited the Navy Headquarters yesterday (June 18). 

During this visit, the members of the delegation called on the Commander of the Navy, Vice Admiral Priyantha Perera.

The NDU delegation, which comprised 41 student officers, was led by Rear Admiral Hu Gangfeng. Meanwhile, the delegation will be in Sri Lanka from 16th to 19th June.

During their official interaction, Rear Admiral Hu Gangfeng exchanged several views with Vice Admiral Priyantha Perera on several matters of mutual interests. The occasion culminated with an exchange of mementoes, signifying the importance of the occasion.

In addition, the delegation members took part in a briefing by the Commander of the Navy who outlined the roles and responsibilities of the Sri Lanka Navy. The Chief of Staff of the Navy, Rear Admiral Pradeep Rathnayake, Director General Operation, Rear Admiral Nishantha Peiris, Director General Training, Rear Admiral Buddhika Liyanagamage, Naval Assistant to the Commander of the Navy, Rear Admiral Kosala Warnakulasooriya and Defence Attaché of the Embassy of the People’s Republic of China in Colombo, Senior Colonel Zhou Bo were also present on this occasion.

(Source / Pics : navy.lk)

Continue Reading

Trending

Copyright © 2024 Sri Lanka Mirror. All Rights Reserved