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Sri Lanka’s Social Safety Net programs suffer from poor targeting – IMF - newsfirst.lk - Usa - Sri Lanka
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Sri Lanka’s Social Safety Net programs suffer from poor targeting – IMF
COLOMBO (News 1st); The International Monetary Fund on Tuesday (21) said that the Extended Fund Facility (EFF) arrangement for Sri Lanka sets a minimum spending floor by the government on the social safety net program.The International Monetary Fund (IMF) Executive Board on Monday (20) approved SDR 2.286 billion (about US dollars 3 billion) under the Extended Fund Facility (EFF) to support Sri Lanka’s economic policies and reforms.The IMF report on the EFF noted that Social Safety Net (SSN) programs in Sri Lanka are fragmented, with several implementation agencies, which has led to a lack of ownership and widespread inefficiencies in delivery of SSN programs.Masahiro Nozaki, the IMF Mission Chief for Sri Lanka said the EFF program said that Sri Lankan authorities have committed to SSN spending of Rs. 187 billion (0.6 percent of GDP) in 2023.Sri Lanka’s SSN programs monitored under the EFF-supported program comprise the Samurdhi program (largest poverty-targeted cash transfer program in Sri Lanka), as well as assistance to the elderly (over 70 years), allowance for disabled people, and financial support for kidney patients.Masahiro Nozaki highlighted that Sri Lanka's Social Safety Net program suffer from poor targeting."Right now the social safety nets cover about 40% of poorer households, that should be significantly increased and some social safety net spending is going towards relatively rich families.
Kristalina Georgieva - Julie Chung - US welcomes Sri Lanka’s IMF package; Ambassador says structural & lasting reforms are critical - newsfirst.lk - Usa - Sri Lanka - county Will
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US welcomes Sri Lanka’s IMF package; Ambassador says structural & lasting reforms are critical
COLOMBO (News 1st); The United States of America has welcomed the approval of Sri Lanka’s IMF package."Great news & an important step on the road toward economic recovery," tweeted US Ambassador to Sri Lanka Julie Chung on Monday (20).She said that the Sri Lankan government will need to continue reforms and conclude debt restructuring agreements to ensure the program – and the economy – stay on track.She noted that structural & lasting reforms that address good governance & transparency are critical to ensure all citizens of Sri Lanka can prosper.IMF Managing Director Kristalina Georgieva also noted that she was very pleased the Executive Board of the IMF had approved about $3 bn of IMF support for Sri Lanka’s economic policies & reforms. She said that it was an important milestone with International Creditors coming together to help to restore debt sustainability. "Crucial to unlock Sri Lanka's growth potential," she added.The International Monetary Fund said that it will enable an immediate disbursement equivalent to about US $ 333 million for Sri Lanka under EFF program, following Executive Board approval on Monday (20).The Executive Board of the International Monetary Fund (IMF) approved today a 48‑month extended arrangement under the Extended Fund Facility (EFF) with an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion).Sri Lanka has been hit hard by a catastrophic economic and humanitarian crisis.
IMF to release US $ 333 Mn immediately to Sri Lanka under bailout package - newsfirst.lk - Usa - Sri Lanka
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IMF to release US $ 333 Mn immediately to Sri Lanka under bailout package
COLOMBO (News 1st); The International Monetary Fund said that it will enable an immediate disbursement equivalent to about US $ 333 million for Sri Lanka under EFF program, following Executive Board approval on Monday (20).The Executive Board of the International Monetary Fund (IMF) approved today a 48‑month extended arrangement under the Extended Fund Facility (EFF) with an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion).Sri Lanka has been hit hard by a catastrophic economic and humanitarian crisis.The economy is facing significant challenges stemming from pre-existing vulnerabilities and policy missteps in the lead up to the crisis, further aggravated by a series of external shocks.The EFF-supported program aims to restore Sri Lanka’s macroeconomic stability and debt sustainability, mitigate the economic impact on the poor and vulnerable, safeguard financial sector stability, and strengthen governance and growth potential. The Executive Board’s decision will enable an immediate disbursement equivalent to SDR 254 million (about US$333 million) and catalyze financial support from other development partners.COLOMBO (News 1st); The International Monetary Fund said that it will enable an immediate disbursement equivalent to about US $ 333 million for Sri Lanka under EFF program, following Executive Board approval on Monday (20).The Executive Board of the International Monetary Fund (IMF) approved today a 48‑month extended arrangement under the Extended Fund Facility (EFF) with an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion).Sri Lanka has been hit hard by a catastrophic economic and humanitarian crisis.The economy is facing significant challenges stemming from pre-existing
Donald Trump - Alvin Bragg - Indictment vs arrest: What's the difference? - fox29.com - New York - Usa - city New York
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Indictment vs arrest: What's the difference?
NEW YORK - Former President Donald Trump claimed over the weekend that his arrest is imminent and issued an extraordinary call for his supporters to protest as a New York grand jury investigates hush money payments to women who alleged sexual encounters with him. In a post on his social media platform, Trump declared that he expected to be taken into custody on Tuesday – even though Trump's lawyer and spokesperson said there had been no communication from prosecutors.RELATED: Trump's call for protests amid anticipated indictment gets muted reaction by supportersManhattan District Attorney Alvin Bragg is thought to be eyeing charges in the hush money investigation, and recently offered Trump a chance to testify before the grand jury. Meanwhile, local law enforcement officials are bracing for the public safety ramifications of an unprecedented prosecution of a former American president.What is a grand jury, and what does an indictment mean? What’s the difference between being indicted, being charged, and arrested? Here’s a breakdown:Media cameras sit outside the Manhattan District Attorneys office in New York City on March 20, 2023.(Photo by LEONARDO MUNOZ/AFP via Getty Images) In New York, an indictment is a formal felony charge.Here’s how it works generally: After a prosecutor studies information from investigators in a case, a prosecutor decides whether to present the case to an impartial group of citizens called a grand jury, according to the U.S.
Ranil Wickremesinghe - IMF approves Sri Lanka’s bailout package under EFF; Sri Lanka can access up to $ 7 Bn - newsfirst.lk - China - Usa - India - Sri Lanka
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IMF approves Sri Lanka’s bailout package under EFF; Sri Lanka can access up to $ 7 Bn
COLOMBO (News 1st); The IMF Executive Board approved Sri Lanka’s program under the Extended Fund Facility (EFF) that will enable Sri Lanka to access up to $7 billion in funding, reported the President's Media Division.President Ranil Wickremesinghe has expressed his gratitude for the support of the IMF and other international partners, said the PMD.It added that the President committed to full transparency in all discussions with financial institutions & creditors, & to achieve sustainable levels of debt through prudent fiscal management & an ambitious reform agenda.The IMF program is critical to achieving this vision & will help to improve Sri Lanka's standing in international capital markets, making it an attractive country for investors, talent, & tourists, said the President's Media Division.Earlier this month, Sri Lanka received IMF-compatible financing assurances from its official creditors, including Paris Club members, India and China, allowing the IMF to convene an Executive Board and consider Sri Lanka’s request for a loan.The program is expected to provide much-needed policy space to drive the economy out of the unprecedented challenges and instill confidence amongst all the stakeholders.President Ranil Wickremesinghe welcomed the announcement:“In the 75 years of Sri Lanka’s independence, there has never been a more critical period for ou economic future. Our official creditors have declared their support following continuous and positive engagements over the last few months, and we are pleased that the IMF Executive Board approved our program, enabling Sri Lanka to access up to US$ 7 billion in funding from the IMF and IFIs.
Julie Chung - Free TSP fertilizer for North & East farmers; Distribution for other areas to commence soon - newsfirst.lk - Usa - Sri Lanka
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Free TSP fertilizer for North & East farmers; Distribution for other areas to commence soon
COLOMBO (News 1st);Sri Lanka's Agriculture Ministry said that 1.2 million local farmers will be given Triple Super Phosphate or TSP Fertilizer free of charge from Monday (20), after three harvesting seasons.The shipment of 36,000 metric tons  Triple Super Phosphate (TSP) was funded by the United States Agency for International Development (USAID) and procured by the Food and Agriculture Organization of the United Nations (FAO) for distribution free-of-charge to farmers.Accordingly, 11,537 MT of TSP fertilizer will be issued to farmers in the Northern, and Eastern Provinces.TSP Fertilizer will be issued via all Agrarian Services Centers in the country.The Ministry of Agriculture said that TSP Fertilizer will be issued to other areas to commence harvesting.According to the ministry, 55 kg of fertilizer is recommended for one hectare of paddy cultivation.More than a million Sri Lankan paddy farmers in all 25 districts will get vital assistance through a shipment of over 36,000 metric tons of fertilizer handed over by the United States to the Ministry of Agriculture. This second shipment of USAID-supported fertilizer is delivered on a promise USAID Administrator Samantha Power made last September in response to Sri Lanka’s food security challenges. It brings the total of USAID-supported TSP and urea fertilizer to more than 45,000MT over the last year.U.S.
Edwin Díaz - Jose Altuve hit-by-pitch in World Baseball Classic, leaves game with thumb fracture - fox29.com - New York - Usa - Spain - Puerto Rico - city Houston - state Colorado - Venezuela - Dominican Republic
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Jose Altuve hit-by-pitch in World Baseball Classic, leaves game with thumb fracture
MIAMI - Jose Altuve left Venezuela’s 9-7 quarterfinal loss to the United States on Saturday night with a possible broken right thumb after getting hit by a pitch in another injury setback at the World Baseball Classic.The Houston Astros second baseman, an eight-time All-Star and the 2017 American League MVP, fell to the field after he was struck by the 95.9 mph sinker from Colorado reliever Daniel Bard in the fifth inning. He grimaced as he walked off with an athletic trainer, and Altuve was replaced by Luis Rengifo."The Astros will provide an update tomorrow after further evaluation," the club said in a statement.A Houston athletic trainer was concerned Altuve’s thumb was broken but had not received a scan to confirm a break, a person familiar with the situation told The Associated Press speaking on condition of anonymity because the team had not announced a diagnosis.Altuve’s injury occurred three days after New York Mets All-Star closer Edwin Díaz sustained a season-ending knee injury during the postgame celebration of Puerto Rico’s 5-2 win over the Dominican Republic.MORE ASTROS NEWSAltuve did not answer questions from media after the game, saying only in Spanish: "All is good.""It didn’t look good," said Venezuela manager Omar López, the Astros first base coach.
Joe Biden - John Thune - Bank failures, bailouts divide Congress on next steps - fox29.com - Usa - Washington - state Ohio - city Washington - state South Dakota
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Bank failures, bailouts divide Congress on next steps
WASHINGTON (AP) - Bills were filed, hearings were planned and blame was cast as Congress reacted this past week to the abrupt failure of two banks. A look at what lawmakers are saying and planning as the fallout continues from the collapse of Silicon Valley Bank and Signature Bank.While President Joe Biden called Monday on Congress to strengthen the rules for banks to prevent future failures, lawmakers are divided on whether any legislation is needed.Some congressional leaders are skeptical that a closely divided Congress will act at all."There’s people who are going to choose bills, but I cannot imagine that, with the hold banks have on Republican members of Congress, that we can pass anything significant," said Sen. Sherrod Brown, D-Ohio, chairman of the Senate Banking, Housing and Urban Affairs Committee.Republicans say the laws already in place were sufficient to prevent the bank failures, if only regulators had done their job by spotting obvious problems and directing the banks to take steps that would reduce their risk."If there are ideas out there that people have, you know, at some point, we would be willing to entertain those, but I think it would be premature to start talking about solutions before we fully define the problem and ultimately get answers from the regulators about why they were asleep at the job," said Sen.
Europe's top spring break destinations eclipse US beaches as travelers flock overseas - fox29.com - Usa - Italy - Britain - state California - state Florida - San Francisco - city London - county Hall - city Columbia, Britain - city Phoenix - state Hawaii - county Maui - city Rome, Italy
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Europe's top spring break destinations eclipse US beaches as travelers flock overseas
View of the Colosseum in 2011 in Rome, Italy. (Photo by Santi Visalli/Getty Images) Spring break outings are often defined by parties and trips to beaches in California, Florida and Hawaii — however, new data shows a growing interest in international travel among Americans.Less conventional destinations, particularly in Europe, have replaced longstanding favorite locations such as Orlando, Phoenix and Maui atop many Americans' travel itineraries. Many report lower prices, fairer weather and loosening COVID-19 restrictions across the globe as driving factors in their shift toward the likes of London, Rome and British Columbia.10 SAFETY TIPS TO REMEMBER IF YOU'RE TRAVELING OUT OF THE COUNTRY FOR SPRING BREAKWhat is driving this change?After years of visiting national parks, wide-open nature retreats, and domestic tropical island getaways during the pandemic, Americans are showing renewed interest in travel this spring."Interest in international travel is increasing given the favorable exchange rate for Americans," Philip Ballard, the Florida-based chief communications officer of HotelPlanner, told the Associated Press. "For example, we're seeing about a 20% increase in U.K.-bound bookings because the U.S.
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