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Sri Lanka hopes for IMF deal in December - newsfirst.lk - China - Japan - India - Sri Lanka
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Sri Lanka hopes for IMF deal in December
(Reuters) – Sri Lanka has postponed a round of debt restructuring talks initially expected to be held on Thursday to allow central bank and treasury officials to provide clarifications sought by the country's creditors, its state minister of finance said.The island nation formally kicked off the talks in September after securing a preliminary $2.9 billion bailout with the International Monetary Fund, a step on a path out of the country's worst financial crisis in a decade.But it needs to secure financing assurances from key creditors including China, Japan and India before the funds can be disbursed."There are different concerns that different creditors want cleared so it was decided that these clarifications would be communicated first and then new dates would be set for another round of talks," state minister Shehan Semasinghe Semasinghe told Reuters on Thursday."The dates are yet to be decided."Semasinghe did not provide details on the creditors' concerns or what exactly was being discussed between them and Sri Lanka's central bank and treasury officials.Sri Lanka had earlier set a target of getting board level IMF approval in December for the planned four-year programme."We are focusing on financing assurances. As of now no bilateral creditor has informed us that they are not going to support us," Semasinghe added."We have a target and we are pushing hard to meet it in December."Sri Lankan officials have also had talks with representatives from China EXIM Bank and China Development Bank which together hold about $4.3 billion in loans given to fund large infrastructure projects over the last 20 years.
2014 champions flex their muscle with crushing Ireland victory - newsfirst.lk - Sri Lanka - Ireland - Scotland - Namibia
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2014 champions flex their muscle with crushing Ireland victory
Sri Lanka commenced their Super 12 campaign with an impressive nine-wicket triumph over a disappointing Ireland in Hobart on Sunday.Namibia slip-up long forgottenThere were many fears for Sri Lanka when they were thrashed by Namibia in the opening match of the First Round, but the reigning Asia Cup champions are slowly gathering some momentum.While the nine-wicket victory over Ireland was expected by most, the way the island nation went about it was ultra-impressive as they clinically dispatched of their opponents in clinical style with plenty of improvement to come.Star spinner Wanindu Hasaranga (2/25) took his eighth and ninth scalps of the tournament thus far and he was well supported by fellow spinner Maheesh Theekshana (2/19), who was thrust into the bowling crease during Ireland's batting Powerplay.Not only did Sri Lanka take wickets at regular intervals, but they also kept the run rate down as Ireland's batters were unable to gather much momentum and were restricted to 128/8 from their 20 overs.Sri Lanka's run chase was a mere formality, with in-form opener Kusal Mendis (68 from 43 balls) continuing his excellent tournament thus far with another half-century .Ireland struggle for fluencyMuch of the good Ireland managed from eye-catching victories over Scotland and the West Indies was undone against Sri Lanka, with the European side unable to back-up their strong showings from the First Round.Veteran opener Paul Stirling (34 from 25 balls) got a handful of big shots away early, but young gun Harry Tector (45 off 42) was the only other player to look assured at the crease.Their bowling didn't fare much better, with spinner Gareth Delany (1/28) the only wicket-taker as Ireland started their Super 12 campaign in
New controversial anti-corruption law: TISL calls for critical amendments - newsfirst.lk - Sri Lanka
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New controversial anti-corruption law: TISL calls for critical amendments
COLOMBO (News 1st) – Transparency International Sri Lanka (TISL) called for critical amendments and public consultation on the proposed Anti-Corruption Law, which enables the creation of an independent commission that is empowered to carry out arrests without a warrant or a magisterial order.The controversial bill was introduced by the Ministry of Justice, and oversees the creation of an independent commission that is empowered to carry out arrests without a warrant or a magesterial order, for officials who are suspected to have carried out an offence under the proposed anti-corruption act. This law seeks to replace the Bribery Act, the Commission to Investigate Allegations of Bribery or Corruption Act and the Declaration of Assets and Liabilities law. According to the bill, any authorized officer of the Commission may without an order from a Magistrate and without a warrant arrest any person suspected of committing an offence under the provisions of this Act. Moreover, the section (58)1 of the proposed bill highlights that "an authorised officer of the Commission may apply in writing to the High Court for a warrant authorizing the covert monitoring of any conduct and recording of any communication if such officer has reasonable grounds to suspect or believe that a person has committed, is committing or is about to commit an offence under this Act."TISL notes that Sri Lanka does not lack laws to deal with bribery and corruption even at present, however the enforcement of the said laws remain inadequate. While the country is struggling to apply even the existing anti-corruption laws, the TISL seriously notes that the independence of any proposed anti-corruption body from the Executive could only be assured, if any
Sri Lanka Army celebrates 73 years of dedicated service to the country - newsfirst.lk - Sri Lanka
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Sri Lanka Army celebrates 73 years of dedicated service to the country
(Army) – The Sri Lanka Army; the proud “Protector of the State” which led a sustained crusade against ruthless terrorism and brought durable peace to the Nation after more than three decades of human suffering celebrated its 73rd anniversary aka the Army Day on Monday (10 October) with grandeur at Panagoda, assuring that it would continue to be the leading gurantor of national security.Fluttering Army Flag and multi-coloured flags of all Regiments and formations which provided a dramatic backdrop for the day's formal spectacle in the premises where Lieutenant General Vikum Liyanage, Commander of the Army added dignity and prominence to the commemoration as the Chief Guest, set the stage aptly ready for the day's proceedings in the glittering ceremony soon after the Army Chief's arrival was heralded.Typical of military formalities, a smartly-attired Guard Turnout salute greeted the day's Chief Guest as he entered the premises after the Centre Commandant, Sri Lanka Light Infantry (SLLI) Regimental Centre welcomed Lieutenant General Vikum Liyanage to the location. This year’s Army Day parade commanded by Major General SUMN Manage WWV RWP RSP psc, Director General General Staff, together with Brigadier GWA Senevirathna USP psc, Director Research Concept and Doctrine, 2nd in Command consisted of 77 Officers and 652 Other Ranks of all 25 Regiments with Colours squads.
Ranil Wickremesinghe - Sri Lanka’s Debt Restructuring talks today (22) - newsfirst.lk - Sri Lanka
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Sri Lanka’s Debt Restructuring talks today (22)
COLOMBO (News 1st) – Sri Lanka's proposal for Debt Restructuring will be discussed online on Friday (23).Finance Secretary Mahinda Siriwardena told News 1st that all creditor nations will join the discussion, and the plan is to provide them a better understanding on Sri Lanka's Debt Restructuring process.Sri Lanka will be represented by the Finace Ministry Officials and personnel from the Central Bank of Sri Lanka.On Thursday (22) foreign diplomats in Sri Lanka assured President Ranil Wickremesinghe of their support to get the assistance of the International Monetary Fund (IMF) to Sri Lanka to recover from the economic crisis, said the President's Media Division.They made this assurance on Thursday (22) at the Ambassadors’ Forum on Debt Restructuring and IMF Program held at the President’s Office chaired by the President.Ambassadors from 23 countries, both members and non-members of Paris Club participated at the Forum.The foreign ambassadors expressed their confidence that Sri Lanka would be able to get out of this situation.President Ranil Wickremesinghe emphasized that it was the government’s expectation to overcome the economic challenge that the country is facing and assured that all possible measures would be taken in the endeavour.Governor of the Central Bank Dr. Nandalal Weerasinghe and Finance Ministry Secretary Mahinda Siriwardana explained the progress of the discussions held with the International Monetary Fund (IMF) and the current economic situation in Sri Lanka.President Ranil Wickremesinghe said that it was a challenge the country had to face to ensure a better future for the next generation.
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