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IMF Insists on creditor assurances to unlock SL bailout

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Sri Lanka still needs adequate assurances from other bilateral creditors for its program to be approved, the International Monetary Fund said, after Paris Club lenders said they will re-structure debt.

“We welcome the recent statement by the Paris Club to provide financing assurances to Sri Lanka following the assurances provided by India,” an IMF spokesperson said.

“Sri Lanka continues to engage with official bilateral creditors to obtain financing assurances and also continues to advance domestic reforms,” an IMF spokesperson has said in a statement on the progress of its Extended Fund Facility to the South Asian nation.

“As soon as adequate assurances are obtained and remaining requirements are met, including by the Sri Lankan authorities, the EFF arrangement for Sri Lanka can be presented to the IMF’s Executive Board for approval.”

The Paris Club and India have provided formal support to the multilateral lender for the loan recast, while has offered term extensions, urging others to adopt a similar approach.

Sri Lanka has about $50 billion in foreign currency debt, of which about $10 billion is mainly split between China, Japan and India, according to government data as of December.

(Excerpts : Bloomberg.com)

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Lorry carrying explosives seized on Habarana-Trinco road

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Police have seized a lorry transporting explosives along the Habarana-Trincomalee main road.

According to police, officers attached to the Hatharas Kotuwa Police had stopped and inspected the vehicle during a routine check, during which they discovered a bag containing C-4, a highly explosive substance, hidden beneath the dashboard near the driver’s seat.

The seized stock of explosives had weighed 156.07 grams. 

The lorry driver was taken into custody.

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CAA warns of improperly labeled salt products

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The Consumer Affairs Authority (CAA) has warned to prosecute importers and retailers selling salt without proper labels, including missing manufacturer/importer info and retail price.

The public is advised not to buy such products, while distributors have urged to maintain valid invoices with supplier details or face legal consequences.

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New Police Media Spokesman named

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The Police Media Division has announced that Assistant Superintendent of Police (ASP) F.U. Wootler has been named as the new Police Spokesperson, effective immediately.

ASP Wootler takes over the role from Senior Superintendent of Police (SSP) Buddhika Manatunga, who has been transferred to serve as the Officer-in-Charge of the Polonnaruwa Division.

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