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President of CPAFFC arrives in SL (Pics)

Published

2 years ago

November 12, 2022

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President of the Chinese People’s Association for Friendship with Foreign Countries (CPAFFC) – Mr. Lin Songtian has arrived in Sri Lanka for a 04-day tour.

He was warmly received by the Sri Lanka – China Friendship societies at the Shangri-La hotel today (12) and is expected to deliver a special speech next Tuesday (15).

Mr. Lin Songtian (62) entered China’s foreign service in 1986, and had rich working experience in the Foreign Ministry of China as Deputy Director General of Personnel (2007-2008), DG of Foreign Affairs Management (2010-2014) and DG of African Affairs (2014-2017).

He was posted at Chinese missions in Saudi Arabia (1989-1993) and Zambia (1999-2003) before being appointed as Chinese Ambassador to Liberia (2003-2007), Malawi (2008-2010) and South Africa (2017-2020).

Since 2020, he has been the President of the CPAFFC.

The Chinese People’s Association for Friendship with Foreign Countries (CPAFFC) is a national people’s organization engaged in people-to-people diplomacy of the People’s Republic of China. The aims of the Association are to enhance people’s friendship, further international cooperation, safeguard world peace and promote common development. On behalf of the Chinese people, it makes friends and deepens friendship in the international community and various countries around the world, lays and expands the social basis of friendly relations between China and other countries, and works for the cause of human progress and solidarity. It implements China’s independent foreign policy of peace, observing the Five Principles of Peaceful Coexistence, while carrying out all-directional, multi-level and broad-area people-to-people friendship work to serve the great cause of China’s peaceful development and reunification and contribute to the building of a harmonious world of lasting peace and common prosperity. In launching its activities, it has support from the government and assistance from all sectors of the society. It has set up 46 China-regional or China-national friendship organizations and established relationships of friendly cooperation with nearly 413 nongovernment organizations and institutions in 157 countries.

News

SLADA Chairman Professor Arjuna de Silva Resigns

Published

6 hours ago

September 19, 2024

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Professor Arjuna de Silva, Chairman of the Sri Lanka Anti-Doping Agency (SLADA), has announced his resignation effective September 30, marking the end of his 13-year tenure.

His departure will also see him stepping down from his duties at Sri Lanka Cricket.

At a media briefing, de Silva stated that his decision to resign was voluntary, with no external pressure involved.

He expressed satisfaction with his achievements, including significant progress in eradicating doping in Sri Lankan sports.

During his tenure, Sri Lanka rose to sixth place in Asia in doping control efforts.

De Silva also pioneered the construction of SLADA’s new headquarters and played a key role in identifying sources of banned substances.

Additionally, SLADA’s collaboration with the International Cricket Council is expected to generate future revenue.

News

Sri Lanka reaches in principle agreements for restructuring sovereign debt with external commercial creditors

Published

6 hours ago

September 19, 2024

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On the 19th of September 2024, Sri Lanka announced that it has reached Agreements in Principle on the restructuring of approximately USD$ 17.5 billion of external commercial debt (as of end 2023).

These agreements have been reached with holders of its International Sovereign Bonds, following negotiations with the Ad Hoc Group of Bondholders (“AHGB”), a representative group of international investors, and the Local Consortium of Sri Lanka (“LCSL”), a representative group of domestic financial institutions. Collectively, the two groups hold in excess of 50% of the Bonds.

Under the agreements, holders of the Bonds will be consenting to a present value concession of 40.3% in the baseline scenario, calculated with a discount factor of 11%. The agreements provide Sri Lanka with enhanced debt relief compared to the Joint Working Framework agreed in July 2024, including a further reduction in interest payments provided in the new agreement.

Sri Lanka also announced that it has finalized an agreement in principle with China Development Bank (“CDB”) on the key financial terms of the restructuring of approximately US$ 3.3bn of sovereign debt.

As a result of the agreements already achieved with Eximbank of China and members of Sri Lanka’s Official Creditor Committee (“OCC”) as well as CDB and bondholders, Sri Lanka will have obtained over USD 17bn of debt service relief during the IMF program period (around USD 2.4bn from Eximbank of China, USD 2.9bn from the OCC, USD 2.5bn from CDB and USD 9.5bn from the bondholders).

President Ranil Wickremesinghe expressed his deep appreciation for all of Sri Lanka’s creditors who engaged in good faith throughout this process, and also for the International Monetary Fund and the OCC Secretariat for the continuous and constructive support.

The official announcement

News

Around 500 apparel factory workers hospitalized due to food poisoning

Published

13 hours ago

September 19, 2024

editor

Around 500 workers at a privately owned apparel factory in Bakamoona, Polonnaruwa have been hospitalised over food poisoning, reports say.
According to reports, the employees have fallen ill after consuming food provided by the factory.

However, they are not in critical condition and are being treated at the Bakamoona and Atthanakadawala Hospitals.

(Source : Aruna)