News

India extends USD 1bn credit line for SL by a year

Published

2 years ago

May 10, 2023

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India has extended a USD 1 billion credit line for Sri Lanka by one year, Reuters reported on Tuesday.

The credit line, part of about USD 4 billion in emergency assistance extended by India during the peak of Sri Lanka’s financial crisis early last year, was scheduled to end in March.

Post-negotiations, the credit line was extended until March 2024, Sri Lanka’s Deputy Treasury Secretary Priyantha Rathnayake said.

“There is about USD 350 million left of the credit line that can be utilised as needed. However, given the increase of foreign exchange availability in the market, the need is not as keen as it was last year,” he said.

Reuters reported in March that Sri Lanka was negotiating with India to extend the facility, used so far mainly for medicines and food.

News

Vote on Account for first four months of 2025 passed in Parliament

Published

8 hours ago

December 7, 2024

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The resolution for the Vote on Account, ensuring government operations and debt servicing for the initial four months of 2025, was passed in Parliament yesterday (6) without a vote.

The debate on the resolution, initially presented on 3 December, spanned two days.

News

US delegation discusses economic and governance reforms with foreign minister

Published

8 hours ago

December 7, 2024

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A U.S. delegation led by Assistant Secretary Donald Lu met with Foreign Minister Vijitha Herath to congratulate Sri Lanka’s new administration. Discussions focused on shared priorities, including economic and governance reforms, with plans for tailored programs, capacity-building, and technical assistance to benefit the Sri Lankan people.

News

CAA seizes bottled water stock in Hemmatagama over violations

Published

1 day ago

December 6, 2024

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The Consumer Affairs Authority (CAA) raided a factory in Hemmatagama, Mawanella, seizing over 3,000 bottles of drinking water prepared for distribution.

Investigations revealed that the factory’s Health Ministry registration certificate had expired and was obtained using false information. The seized stock included bottles of varying sizes from 500 ml to 19 liters.

The CAA emphasized that falsely claiming standards or endorsements violates the CAA Act, and legal action will be taken against the violators. Regular raids are conducted to prevent consumer deception.