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World Bank’s IDA approves US$200 mn. for SL’s economic reforms

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The International Development Association (IDA) of the World Bank Group (WBG) has approved a USD 200 million financing package to support the second phase of Sri Lanka’s Resilience, Stability, and Economic Turnaround (RESET) Development Policy Financing (DPF) program.
The agreement was signed today (07) by K.M. Mahinda Siriwardana, Secretary to the Ministry of Finance, Economic Development, Policy Formulation, Planning, and Tourism, and David N. Sislen, World Bank Country Director for Sri Lanka in the presence of President Anura Kumara Dissanayake.

This financing is part of the World Bank’s continued commitment to assist Sri Lanka in its comprehensive reform agenda. The RESET DPF program, which operates in tandem with the IMF’s Extended Fund Facility (EFF), is aimed at addressing the root causes of the island nation’s ongoing economic crisis. The two-year program (2023–2024) is designed to restore stability through macroeconomic adjustments while protecting the poor and vulnerable. The first phase of the program, implemented in 2023, successfully secured USD 500 million after meeting seven key prior actions under three pillars.

The three key pillars of the RESET DPF program are:

1. Improving Economic Governance: Strengthening fiscal discipline, transparency, and accountability in public resource management while safeguarding financial stability.
2. Enhancing Growth and Competitiveness: Unlocking Sri Lanka’s growth potential through a more competitive private sector.
3. Protecting the Poor and Vulnerable: Shielding the most affected segments of society from the economic fallout of the crisis.

In 2024, the Government of Sri Lanka plans to access the USD 200 million loan from the IDA to support the second phase of the RESET program. To qualify, the government must fulfill nine prior actions under the three key pillars and maintain a sound macroeconomic policy framework. The World Bank Board granted approval for the financing facility, which will take effect upon the signing of the Financing Agreement.

This financial assistance from the World Bank is expected to play a crucial role in stabilizing Sri Lanka’s economy and preventing a recurrence of similar crises in the future, while fostering a more inclusive and competitive economic environment.

(President’s Media Division)

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Silence period begins ahead of Gen. Election

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The election campaign activities for the upcoming parliamentary election concluded at midnight yesterday (Nov. 11), starting the silence period, which will remain in effect until Election Day on Nov. 14. 

The Election Commission (EC) emphasises that campaigning activities are not permitted during this period.

However, candidates have been given time until midnight today (Nov. 12) to remove their campaign offices. Afterwards, only one office per constituency is allowed for parties and groups. Additionally, a candidate’s house can be used as a party office but no decorations or advertising are permitted.

Meanwhile, Police Spokesman DIG – Nihal Thalduwa has announced that approximately 64,000 police officers will be deployed from today to ensure security during the general election across all constituencies.

Also, PAFFREL Executive Director Rohana Hettiarachchi says that they will deploy approximately 6,000 representatives to monitor this year’s elections.

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NAHTTF warns of Lankans in UAE being lured to cyber scam centres in Myanmar

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The National Anti-Human Trafficking Task Force (NAHTTF) has issued warnings to the public on several occasions regarding an increase in various forms of recruitment to cyber scam centers in Myanmar.

According to the latest information received, Sri Lankans currently staying in the United Arab Emirates (UAE) are being sent to cyber scam centres in Myanmar in groups and the NAHTTF has received information through reliable sources that there is an increase in the number of newly recruited Sri Lankan citizens in those scam centres.

Recent investigations revealed that the traffickers lure IT professionals with the promise of high-paying IT positions  abroad. They attract workers with the promise of high-paying positions in the IT fields in other countries.

The investigations also reveal that these individuals are taken to places like Dubai under the guise of job interviews and are then coerced into working illegally in cyber scam centers in Myanmar. Investigations have further uncovered that they are subjected to mental and even brutal physical torture, such as electrocution, in these scam centers.

“We strongly advise against using illegal migration routes, as they are extremely dangerous and violate the Sri Lanka Bureau of Foreign Employment Act. Job seekers must refrain from traveling to other countries on visit visas”, warns NAHTTF.

The NAHTTF urges the public to:

•    Pursue safe, legal migration options through authorized channels.
•       Stay vigilant and report any suspicious trafficking activities.
•       Protect vulnerable individuals by informing relevant departments about Sri Lankan workers abroad who may be at risk, as well as their relatives and friends in Sri Lanka.

The NAHTTF, while requesting the public to report any suspicious activities through the following phone numbers or email address, emphasizes its obligation to protect the confidentiality of those who provide information.

•    0112102570/ 076 844 7700
•    [email protected]

Your vigilance can help dismantle these dangerous trafficking networks and save lives. All reports will be treated with strict confidentiality.

(defence.lk)

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Colombo – Talaimannar trains resume

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The Department of Railways has announced that the train service between Colombo Fort and Talaimannar will resume today (Nov. 12).

This service had been temporarily suspended due to the railway development project between Mahawa and Anuradhapura.

The new schedule is as follows:

Colombo Fort to Talaimannar:
– Starting Nov. 12, 2024 : Departure from Colombo Fort at 16.15 p.m., arriving in Talaimannar at 22.15 p.m.

Talaimannar to Colombo Fort:
– Starting Nov. 13, 2024 : Departure from Talaimannar at 4:15 a.m., arriving in Colombo Fort at 10:15 a.m.

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