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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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“Better if MR vacates residence on his own accord”

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It is better for former President Mahinda Rajapaksa to leave his residence before he is asked to do so, Cabinet spokesman Dr. Nalinda Jayatissa said today (Jan. 21).

Speaking at the weekly Cabinet briefing, Dr. Jayatissa stated that the people have given a mandate to the government to abolish privileges of politicians and ease the politicians’ burden on the people.

He explained that according to the provisions of the Presidents’ Entitlements Act, former Presidents or their widows are entitled to one-third of their salary.

“Although Mr. Rajapaksa was not in the Parliament that passed this Act, he had been in several governments and therefore, should understand its provisions… If he understands this, it is better for him to leave on his own accord without waiting until he is told to vacate the residence,” he said.

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Several politicians linked to Papaverine supplying company – Nalinda

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Cabinet Spokesman – Minister of Health and Mass Media – Dr. Nalinda Jayatissa today (Jan. 21) stated that several politicians are linked to the company which had supplied the ‘Papaverine’  injection.

Speaking at the weekly Cabinet briefing held today (Jan. 21), he said that government has spent Rs. 342.49 million to import the drug from 2019 to 2023.

“There was no pricing formula earlier and the government had purchased the medicines at the price determined by the companies,” he added.

He also said that an investigation will be initiated to find out how approval was given to this company to purchase the drug at such higher prices.

Dr. Jayatissa further said that he also will make a special statement in this regard at Parliament tomorrow (Jan. 22), as the Health Minister.

Earlier, it was reported that the vaccine, which was once sold for Rs.76,000 now being reduced to Rs. 370.

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Court order issued over MP Archchuna

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The Anuradhapura Magistrate’s Court has ordered the police to act under existing laws with regard to Jaffna District Independent MP Ramanathan Archchuna and to investigate the incident involving his alleged obstruction of police duties and traffic violations in Anuradhapura.

Additionally, the magistrate has instructed Anuradhapura Police to report facts to the court by February 03, 2025.

Police launched an investigation against the parliamentarian for allegedly obstructing the duties of traffic police officers in the Rambewa area in Anuradhapura last evening (20) and facts related to the incident was presented before the court by Anuradhapura Police.

Following this, the Anuradhapura Magistrate’s Court issued the arrest order, according to Police Media Spokesman SSP Buddhika Manathunga.

Earlier today, it was reported that a heated situation had occurred involving MP Ramanathan Archchuna in the Rambewa area, while he was on his way to participate in today’s parliamentary session.

The MP reportedly had a heated confrontation with traffic police officers who had stopped and inspected his vehicle as the MP was allegedly driving a vehicle with ‘VIP lights’ on, and in a manner that obstructed other vehicles.

(adaderana.lk)

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

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