Connect with us

News

IMF commends SL’s progress on debt sustainability

Published

on

The IMF has commended Sri Lanka’s progress towards achieving debt sustainability, with Senior Mission Chief Peter Breuer highlighting the successful execution of domestic debt restructuring and the finalization of agreements with the Official Creditor Committee and China EXIM Bank as major milestones in this effort.

“The authorities have made commendable progress with putting debt on a path towards sustainability,” Breuer said. “The execution of the domestic debt restructuring and finalizing the agreements with the Official Creditor Committee and China EXIM Bank are major milestones.”

The IMF has been closely involved in assessing Sri Lanka’s debt restructuring initiatives.

Breuer noted that IMF staff reviewed the “Joint Working Framework” announced after the second round of restricted discussions with the bondholder committee. This assessment was shared with Sri Lankan authorities and the financial advisors of the bondholders.

“We encourage a swift resolution of the remaining steps to achieve debt sustainability and regain investor confidence,” Breuer added. “We will continue to support Sri Lanka’s ongoing debt restructuring efforts.”

Looking ahead, the IMF will formally assess Sri Lanka’s progress in meeting key commitments under the IMF-supported program during the third review of the Extended Fund Facility (EFF).

The timing of this review will be discussed with the government following the announcement of the upcoming presidential elections.

(newsfirst.lk)

(Except for the headline, this story, originally published by newsfirst.lk has not been edited by SLM staff)

News

Kandy – Mahiyanganaya main road reopened

Published

on

By

The Kandy – Mahiyanganaya main road has been reopened for vehicular traffic, from 6:00am onwards today (Jan. 21).

The road had been closed since yesterday afternoon from Kahatagolla due to the risk of stones falling onto the roadway.

According to the police, the Road Development Authority (RDA) has been informed to conduct further investigations on the ongoing risk.

Continue Reading

News

Chief Observer of the EU EOM meets the Speaker (Pics)

Published

on

By

The Chief Observer of the European Union Election Observation Mission, Mr. Jose Ignacio Sanchez Amor, Member of the European Parliament, and his delegation met with the Speaker – Jagath Wickramaratne at Parliament on Jan. 17.

Secretary General of Parliament of Sri Lanka, Mrs. Kushani Rohanadeera, was also present on this occasion.
During this meeting, the Chief Observer of the European Union Election Observation Mission first extended his congratulations to the Speaker and the new government. He then presented the final report of the Presidential Election Observation Mission – 2024 to the Speaker. The Chief Observer praised the democratic conduct of the elections and acknowledged the vital role of the Election Commission, emphasizing the importance of strengthening the Commission. He also expressed his appreciation for the increase in women’s representation in the current Parliament.

Speaking at the meeting, Speaker Dr. Jagath Wickramaratne expressed his gratitude to the European Union Election Observation Mission for sharing their experience. 

The Speaker emphasized that the government is currently working towards a more transparent, corruption-free governance with true democratic qualities. Meanwhile, the Speaker further stated that plans are being made to hold a conference of Members of Parliament with disabilities for the first time in the country.

Continue Reading

News

Trump orders US to leave World Health Organization

Published

on

By

US President Donald Trump has signed an executive order to begin the process of withdrawing the US from the World Health Organization (WHO).

“Oooh, that’s a big one,” the newly inaugurated US president said as he approved the document after arriving back at the White House. It was one of dozens of executive actions he put his signature to on day one in office.

This marks the second time Trump has ordered the US be pulled out of the WHO.

Trump was critical of how the international body handled Covid-19 and began the process of pulling out from the Geneva-based institution during the pandemic. President Joe Biden later reversed that decision.

Carrying out this executive action on day one makes it more likely the US will formally leave the global agency.

“They wanted us back so badly so we’ll see what happens,” Trump said in the Oval Office, referring to the WHO, perhaps hinting the US might return eventually.

The order said the US was withdrawing “due to the organization’s mishandling of the Covid-19 pandemic that arose out of Wuhan, China, and other global health crises, its failure to adopt urgently needed reforms, and its inability to demonstrate independence from the inappropriate political influence of WHO member states”.

The executive order also said the withdrawal was the result of “unfairly onerous payments” the US made to the WHO, which is part of the United Nations.

When Trump was still in office the first time around he was critical of the organization for being too “China-centric” in its tackling of the Covid-19 pandemic.

Trump accused the WHO of being biased towards China in how it issued guidance during the outbreak.

Under the Biden administration the US continued to be the largest funder of the WHO and in 2023 it contributed almost one-fifth of the agency’s budget.

The organization’s annual budget is $6.8 billion (£5.5 billion).

Public health experts have been critical of Trump’s decision to leave the WHO, warning there could be consequences for Americans’ health.

Some have suggested the move could reverse progress made on fighting infectious diseases such as malaria, tuberculosis and Hiv & Aids.

Ashish Jha, who formerly worked as Covid-19 response co-ordinator under President Biden, previously warned leaving would “harm not only the health of people around the world, but also US leadership and scientific prowess”.

“It’s a cataclysmic presidential decision. Withdrawal is a grievous wound to world health, but a still deeper wound to the US,” Lawrence Gostin, a global public health expert and Georgetown University professor said.

(BBC News)

Continue Reading

Trending

Copyright © 2024 Sri Lanka Mirror. All Rights Reserved