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SL – Hungary sign debt restructuring agreement

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The government of Sri Lanka and the Hungarian Export Credit Insurance Plc. have signed a bilateral agreement in relation to the External Debt Restructuring Process.

In a statement, the Ministry of Finance, Planning and Economic Development said the signing of the agreement is a significant milestone of the External Debt Restructuring Process and testament to the government’s commitment to conclude the restructuring process as soon as possible to restore debt sustainability and thereby revamp Sri Lanka’s economy.
Following bilateral discussions after the conclusion of the Memorandum of Understanding (MoU) with the Official Creditor Committee (OCC), the Hungarian Export Credit Insurance Plc. has agreed to provide a debt relief measure by rescheduling the outstanding debts, the Ministry noted.

The estimated rescheduled debt under this agreement amounts to Euro 30 million.

The signing of the agreement will pave the way to developing further the deep and long standing bilateral relationships between Hungary and the Government of Sri Lanka, the Ministry added.

The bilateral agreement was signed by Dr. Harshana Suriyapperuma, Secretary of the Ministry of Finance, Planning, and Economic Development, on behalf of the government and Györgyi Rehoregh, Director, Foreign Corporate Risk Management & Claims and Recoveries Directorate, and Dr. Adrienn Hegyi Szénásiné, Head of Claims and Recoveries, Foreign Corporate Risk Management and Claims and Recoveries Directorate, on behalf of the Hungarian Export Credit Insurance Plc.

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SJB establishes control of Seethawakapura UC

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The Samagi Jana Balawegaya (SJB) has established control of the Seethawakapura Urban Council.

At the council’s inaugural meeting held today (July 15), SJB candidate Sunil Jayaratne was elected Chairman through a secret ballot.

Ajith Wijayamuni Zoysa, who ran as an independent, secured the post of Deputy Chairman.

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SL delegation leaving for US this week for tariff talks

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A Sri Lankan government delegation is scheduled to leave for the United States this Friday (July 18) to negotiate a further reduction in the tariffs imposed on Sri Lankan exports to the US, Foreign Minister Vijitha Herath said.

The Foreign Minister made this statement while speaking to the media following an event held in Colombo today (July 15).

A recent announcement made by the US President on July 09 saw the reduction of reciprocal tariff tariffs to 30% from the initially imposed 44%.

The new 30% tariff is scheduled to take effect on August 1, 2025.

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Laws against shooting of wild jumbos, to be tightened

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A meeting was held today (July 15) at the Ministry of Environment with officials from the Department of Wildlife Conservation, aimed at tightening laws against the shooting of wild elephants.

The discussion was chaired by the Minister of Environment – Dr. Dammika Patabendi, along with the Deputy Minister of Environment – Anton Jayakody.

Noting that incidents of elephant shoots are regularly reported to the Department of Wildlife Conservation, the Minister instructed the Director General of the Department to take the necessary steps to strictly enforce the law against such acts.

The discussion also focused on strengthening the process of punishing offenders by updating laws related to the killing of wild animals. It also emphasized enforcing strict laws against the illegal construction of electric fences on private lands, which often harm elephants.

To help reduce human-elephant conflict, the Ministry and the Department are working together on long-term, positive solutions. Accordingly, elephant fences are being built in districts with frequent elephant encounters.

Furthermore, multi-purpose officers have been recruited for the maintenance of these fences and the involvement of civil defense personnel is also being considered.

The Department of Wildlife Conservation announced that a special media briefing will be held in the coming days to inform the public on these initiatives.

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