News

China willing to continue helping SL to ease debt burden

Published

1 year ago

March 1, 2023

editor

China has said that they will jointly play a positive role in helping Sri Lanka navigate the situation, ease its debt burden and achieve sustainable development.

Speaking at the regular media briefing in Beijing yesterday (28) Chinese Foreign Ministry Spokesperson – Ms. Mao Ning has said this while responding to Bloomberg.

Bloomberg: Is China willing to make any adjustments to fall in line with the assurances required to finalize Sri Lanka’s IMF program? If not, are there other steps that have been taken to overcome Chinese concerns on Sri Lanka’s recast and the overall debt restructuring landscape?

Mao Ning: “We have shared with you the information on multiple occasions. The Export-Import Bank of China provided a financing support document to the Ministry of Finance, Economic Stabilization and National Policies of Sri Lanka, saying the Bank is going to provide an extension on the debt service due in 2022 and 2023 to help relieve Sri Lanka’s short-term debt repayment pressure. The Bank also noted that it will support Sri Lanka in its loan application to the IMF and continuously call on commercial creditors (including the International Sovereign Bondholders) to provide debt treatment in an equally comparable manner, and encourage multilateral creditors to do their utmost to make corresponding contributions.”

“What China did is first based on China’s existing policy and position on debt issue. At the same time, as a special arrangement, it also reflects the traditional friendship between China and Sri Lanka. China’s action fully demonstrates its sincerity and efforts to support Sri Lanka in achieving debt sustainability. China will continue to support relevant financial institutions in actively working out the debt treatment. We will work with relevant countries and international financial institutions to jointly play a positive role in helping Sri Lanka navigate the situation, ease its debt burden and achieve sustainable development.”

News

Prof. Nalin de Silva no more

Published

9 hours ago

May 2, 2024

editor

Philosopher, intellectual and academician Professor Nalin de Silva has passed away at the age of 79. Prof. de Silva initially served as a professor in the Department of Mathematics and later as the Dean of the Faculty of Science at the University of Kelaniya.

He was also a former member of the University Grants Commission (UGC).

In addition to his academic pursuits, de Silva also worked as a former Sri Lankan Ambassador to Myanmar.

News

‘Company issuing visa at BIA not Indian or Indian based’

Published

13 hours ago

May 2, 2024

editor

The Indian High Commission in Colombo has issued a statement over reports of Indian companies taking over visa issuance at Bandaranaike International Airport (BIA) in Katunayake.

The statement notes “companies referred to in these reports are not India based or Indian and are headquartered elsewhere. Any reference to India in this context is unwarranted.”

News

Chaos at BIA raises questions (Video)

Published

15 hours ago

May 2, 2024

nipuni

Questions have been raised after chaos at the Bandaranaike International Airport (BIA) in Katunayake last night (May 01) has sparked widespread outrage.

This is with regard to a controversial takeover of the on-arrival visa issuance process at BIA by an Indian company – VFS Global since yesterday evening.

It is learnt that the company has levied an extra $25 alongside the standard $75 fee.

Long lines of frustrated travellers were also seen at the airport for several hours, which is a stark difference to the procedure smoothly managed in a matter of mere minutes by the Immigration and Emigration Department in the past.

Footage of a Sri Lankan citizen expressing outrage over Indian nationals deciding visa matters for fellow Sri Lankans, has also been making rounds on social media.

Although 10 Sri Lankan and Indian officers had commenced work from 5.00pm yesterday, the lines remained well over 9.00pm. Amid tensions, higher officials of the BIA and security forces had also arrived at the premises.

At 11.30pm the company officials temporarily suspended issuing visas and left the BIA with the money collected, reports say.

Upon the directive of the Controller General of Immigration and Emigration – Harsha Ilukpitiya, Immigration officers have commenced their usual duties with no issues since then, enabling the previous process to continue smoothly.

Concerns have been raised over the lack of transparency in this arrangement.