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China willing to continue helping SL to ease debt burden

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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.”

BIZ

Committee to probe irregularities at Sri Lankan Airlines 

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President Anura Kumara Disanayake has instructed relevant authorities to establish a committee under the Presidential Secretariat to investigate allegations of corruption and mismanagement at SriLankan Airlines. 

The directive was issued during a four-hour meeting held today (May 20) at the Presidential Secretariat, attended by the airline’s Board of Directors and representatives from all affiliated trade unions.  

The discussions aimed to secure the collective commitment of stakeholders to uphold the government’s decision to retain state ownership of the airline, eliminate losses and steer it toward recovery. President Disanayake stressed that rebuilding SriLankan Airlines would be impossible without unified efforts, adding that the institution must develop its internal capacity to rebuild itself.  

Asserting the government’s role as the political authority, the President reiterated its commitment to making “all necessary sacrifices” to rescue Sri Lanka from its economic crisis. He emphasised that reviving the national carrier is the shared responsibility of its entire workforce.  

Highlighting the allocation of Rs. 20 billion from the budget for SriLankan Airlines, the President underscored the need for stringent fiscal accountability, noting that these funds, drawn from public taxes, must be utilised efficiently. He also welcomed the “positive trend” of April’s operational revenue surpassing targets.  

New proposals have been presented by the Board of Directors to transform SriLankan Airlines, which operates under government ownership, into a profitable entity. In line with these proposals, the trade union representatives who participated in the discussions stated before the President that they would extend their full support to achieving these goals. 

Key Attendees at the meeting included: Mr. Sarath Ganegoda, Chairman of SriLankan Airlines and members of the Board of Directors, representatives from trade unions, including: Flight Attendants’ Union (FAU), the Airline Pilots’ Guild of Sri Lanka (ALPGSL), the Association of Licensed Aircraft Engineers (ALAE), the SriLankan Airlines Aircraft Technicians’ Association (SLAATA), and the Sri Lanka Nidhahas Sewaka Sangamaya (SLNSS), the Inter-Company Employees’ Union (ICEU) and the SriLankan Airlines Executive Association (EASLA). 

(President’s Media Division)

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Several new appointments made

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Several new appointments have been made by Anura Kumara Disanayake.

Accordingly, the appointments made are as follows : 

Chief Innovation Officer of National Innovation Agency – Dr. Muditha Darshana Senarath Yapa Appointed 

New Secretary to the Ministry of Fisheries – Dr. Kolitha Kamal Jinadasa

Secretary to the Ministry of Rural Development, Social Security and Community Empowerment – Sampath Manthrinayake

Chief Secretary of the Northern Province – Ms. Thanuja Murugesan

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Dy. Prime Minister of New Zealand to visit SL

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Deputy Prime Minister and Minister of Foreign Affairs of New Zealand Winston Peters will be undertaking a visit to Sri Lanka from May 24 – 28, 2025.

During this visit, the Deputy Prime Minister is expected to pay courtesy calls on President Anura Kumara Disanayaka and Prime Minister Dr. Harini Amarasuriya, and hold bilateral discussions with the Minister of Foreign Affairs, Foreign Employment and Tourism H.M. Vijitha Herath, aimed at enhancing cooperation in the areas of trade and investment, agriculture, education, connectivity, tourism and sports. Deputy Prime Minister Peters is also expected to have several private sector and media engagements during the visit.

The Deputy Prime Minister will be accompanied by three senior officials from the Ministry of Foreign Affairs and Trade of New Zealand.

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