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Kotahena Shooting: Target was Kimbula Ele Guna’s relative - newsfirst.lk - India - Sri Lanka - county Lane
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Kotahena Shooting: Target was Kimbula Ele Guna’s relative
COLOMBO (News 1st) – Sri Lanka Police said the target of Wednesday (18) afternoon shooting down 6th Lane in Kotahena was a relative of wanter underworld gangster 'Kimbula Ele Guna'.Two armed on a motorcycle fired several shots at a person inside a car that was parked down 6th Lane in Kotahena at around 1:30 on Wednesday (18) afternoon.CCTV cameras captured the incident, and the car fleeing the hail of bullets.A 30-year-old man identified as Raveendran Deepan, a resident of Jinananda Mawatha Kotahena, was injured in the shooting.The man who is also known as Dileepan is a relative of wanted underworld gangster Sinniah Gunasekara commonly known as Kimbula Ele Guna.Sinniah Gunasekara commonly known as Kimbula Ele Guna is currently detained by the Indian National Intelligence Agency in Tamil Nadu.Kimbula Ele Guna's relative who was injured in the shooting in Kotahena was admitted to the Colombo National Hospital for treatment.Thereafter, according to a spokesperson from the National Hospital, Dileepan's relatives had beaten up a man who made inquiries about the injured man.This man too was admitted to the Colombo National Hospital accident ward for treatment.An individual identified as Sajith Ranga aka Mabima Ranga was killed when two men on a motorcycle opened fire at him close to the Kalu Palama in Peliyagoda on Tuesday (17) morningOn the 15th of January, a 36-year-old man was gunned down by motorcycle gunmen in the Kumbuka area located along the Piliyandala – Horana Road.On the 11th of January, a similar homicide was reported from Panamura.On the 31st of May 2022, two men were targetted by motorcycle gunmen in Fort, Colombo and since then over 50 people have been gunned down in Sri Lanka.
Kristalina Georgieva - India tells IMF it ‘strongly supports’ Sri Lanka’s debt restructuring plan - newsfirst.lk - China - India - Sri Lanka
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India tells IMF it ‘strongly supports’ Sri Lanka’s debt restructuring plan
COLOMBO (News 1st) – India has told the International Monetary Fund that it confirms its strong support for Sri Lanka's prospective EFF-supported program.According to a letter seen by News 1st from Indian authorities to IMF Chief Kristalina Georgieva, India had noted it will commit to supporting Sri Lanka with financing/ debt relief consistent with restoring Sri Lanka's public debt sustainability under the IMF -supported program and ensuring that the program is fully financed as projected by IMF staff."In this context, we commit to continuing negotiations with the Sri Lankan government along with the Paris Club on a medium-to-long term debt treatment through maturity extension and interest rate reduction or any other financial operations that would deliver similar financing/ debt relief," noted the letter.According to this letter seen by News 1st, India says that the financing/ debt relief provided by Export-Import Bank of India will be consistent with restoring debt sustainability under the IMF-supported program."We look forward to continuing cordial and in-depth discussions with the Sri Lankan authorities, IMF and the Paris Club with a view to finalizing the specifics of this financingj debt relief in the coming weeks," the letter added. However, it had noted that the Sri Lankan authorities are expected to seek equitable debt treatments from all commercial creditors and other official bilateral creditors, as well as adequate financing contributions from the multilateral development banks. Sri Lanka requires the backing of China and India – its biggest bilateral lenders – to reach a final agreement with the IMF on the $2.9 billion loan that is essential to help the country emerge from its worst financial crisis in seven
Experts say only debt cancellation offers Sri Lanka a chance of recovery - newsfirst.lk - India - Sri Lanka
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Experts say only debt cancellation offers Sri Lanka a chance of recovery
Some of the world’s most powerful hedge funds and other investors are holding up vital help for crisis-hit Sri Lanka by their hardline stance in debt-relief negotiations after the Asian country’s $51bn (£42bn) default last year, according to 182 economists and development experts from around the world.Instead of geopolitical manoeuvring, all of Sri Lanka’s creditors must ensure debt cancellation sufficient to provide a way out of the current crisis, said a statment from the economists and experts on Monday (9).In a statement the group that said that extensive debt cancellation was needed to give the economy a chance of recovery and that Sri Lanka would be a test case of the willingness of the international community to tackle a looming global debt crisis.The group – including the Indian economist Jayati Ghosh, Thomas Piketty, the author of the bestselling book Capital, and Greece’s former finance minister Yannis Varoufakis – said private sector creditors such as investment companies and hedge funds were preventing a deal.Private creditors own almost 40% of Sri Lanka’s external debt stock, mostly in the form of international sovereign bonds, although the higher interest rates levied on the bonds mean they receive more than 50% of external debt payments.Such lenders charged a premium to lend to Sri Lanka to cover their risks, which accrued them massive profits and contributed to Sri Lanka’s first ever default in April 2022, said the statement."Lenders who benefited from higher returns because of the “risk premium” must be willing to take the consequences of that risk. Indeed, ISBs are now trading at significantly lower prices in the secondary market.
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