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SL hopes to reach agreement with pvt. bondholders next week – President

Published

10 months ago

June 30, 2024

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President Ranil Wickremesinghe announced that the Sri Lankan government expects to conclude discussions and reach an agreement with private bondholders on restructuring the country’s debt next week.

He made this statement while addressing the “Ekwa Jayagamu” public rally in Matara on Sunday (30).

In a significant milestone, Sri Lanka recently sealed a deal with the Official Creditor Committee (OCC) to restructure the debt owed to its bilateral lenders, including India, and signed a separate agreement with China for debt treatment.

Wickremesinghe noted that since signing the agreements with bilateral creditors, representatives of private bondholders have begun discussions with the government.

“As of now, we have successfully achieved progress on both sides. We are expecting to successfully conclude this by next week,” he said.

The President also announced that elections, including the Presidential Election, General Election, and Provincial Council Election, will take place within this year and next year.

The United National Party (UNP) and a section of the Sri Lanka Podujana Peramuna (SLPP) launched the President’s election campaign island-wide, starting from Matara under the theme ‘Ekwa Jayagamu’ (Victory Through Unity).

The rally was attended by Ministers Prasanna Ranatunga, Kanchana Wijesekera, Ali Sabry, Harin Fernando, Manusha Nanayakkara, Ramesh Pathirana, Douglas Devananda, North Western Province Governor Lakshman Yapa Abeywardena, and President’s Chief of Staff and Senior Advisor on National Security Sagala Ratnayake.

News

Heat Index expected at ‘Caution’ level

Published

3 hours ago

April 16, 2025

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Heat index, the temperature felt on human body is expected to increase up to ‘Caution level’ tomorrow (April 16) at some places in Northern, North-central, North-western, Western, Southern and Eastern provinces and in Rathnapura and Monaragala districts, the Meteorology Department warned.

Effect of the heat index on the human body is prepared on the advice of the Ministry of Health and Indigenous Medical Services.

Accordingly, people at jobsites are urged to stay hydrated and take breaks in the shade as often as possible.

Also, constant checks should be made up on the elderly and the sick.

Adults are advised to not leave children unattended and limit strenuous outdoor activities, find shade and stay hydrated.

The public is also urged to wear lightweight and white or light-colored clothing.

HEAT20250416 Download

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Heavy traffic on Ella-Wellawaya road

Published

4 hours ago

April 16, 2025

editor

Heavy traffic congestion has been reported along the Ella-Wellawaya road due to continuous rainfall.

According to the police, vehicle queues had stretched up to five kilometres.
Motorists are advised to use alternate routes to avoid the traffic congestion.

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Govt. needs a plan to face US taxes – RW

Published

8 hours ago

April 16, 2025

editor

Former President – Ranil Wickremesinghe has emphasized that the Sri Lankan government needs to unveil a plan to face the situation created by the US reciprocal taxes.

Making a special statement, Mr. Wickremesinghe points out that although the taxes have been paused at the moment, it will not be scrapped altogether as it is a part of Trump’s manifesto.

As a direct consequence of these taxes, around 100,000 jobs are at risk, he warned, adding that the consequences would ripple across the broader economy.

“Even if the taxes imposed on Sri Lanka are slashed, we will be compelled to pay taxes of 25% – 30%, resulting in exports still declining” he said.

Noting that Sri Lanka will have to generate funds to start setting its debts by 2028 as per the debt restructuring programme, Mr. Wickremesinghe emphasizes that the Government will have to treat this as an emergency situation and come out with a plan to face the situation.

He emphasizes that firstly, discussions must be held with the US and secondly, it must be planned how to solve this issue domestically.