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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.
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.
Ranil Wickremesinghe - Temple Trees - Sri Lanka will be led to the path of success – President - newsfirst.lk - Sri Lanka
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Sri Lanka will be led to the path of success – President
PMD: President Ranil Wickremesinghe emphasized that the Royal College cricket team’s effective captaincy ultimately led to the team’s victory at a time when all of the matches were being lost and that his effort is to lift the defeated country to the path of victory similar to what the captain of the Royal College cricket team did.The President recalled that when he assumed office last July, the country was experiencing numerous crises such as shortage of fuel, food, and fertilizer. He compared this to the Royal team, which had suffered a string of defeats, and claimed that many people believed the country would not be able to recover.However, President Ranil Wickremesinghe stressed that his team was able to change that situation and create economic stability in the country in the last seven months and emphasized that Sri Lanka is no longer a bankrupt state.President Ranil Wickremesinghe made this statement while addressing the 32nd Interact District Conference held at Temple Trees on Sunday morning (19).He said that everyone would be able to witness a developing country in the next two years, and to make Sri Lanka the most prosperous country in the region, it is necessary to build the economy in addition to stabilizing it today.The President added that the 25-year plan to make Sri Lanka a successful nation by 2048 has already been implemented and it can only be achieved with the commitment of the current youth.This conference was organized by St.
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.
Adam Thiel - Philadelphia fire: Families sue Housing Authority for rowhome fire that killed 12 in Fairmount - fox29.com - Philadelphia
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Philadelphia fire: Families sue Housing Authority for rowhome fire that killed 12 in Fairmount
PHILADELPHIA - A devastating fire claimed the lives of 12 people, including nine children, in Philadelphia last year; and now the victims' families are taking legal action.The families of five people killed in the Fairmount rowhome fire are suing building owner the Philadelphia Housing Authority, the city’s public housing agency and the state’s biggest landlord."This terrible tragedy resulting in precious loss of life could and should have been avoided… we are now prepared to move forward, seeking not only compensation, but accountability," Tom Kline, of Kline & Specter, announced in a statement Tuesday.The lawsuit claims the Housing Authority knew the 4-bedroom apartment was overcrowded with 14 people, and that the building had no fire escape or hardwired smoke detectors.RELATED COVERAGE: Philadelphia fire: Lighter, Christmas tree started fire that killed 12 in FairmountNine children were among the 12 people who died in the January 2022 blaze, which officials later said was caused by a Christmas tree ignited by a lighter."We believe with certainty - so 99 to 100% confidence - that the first item ignited in this blaze was a Christmas tree," Philadelphia Fire Commissioner Adam Thiel said after an investigation last year. "We believe with near certainty, based on the evidence, the ignition source for this tree was a lighter that was located nearby."Fourteen people were authorized to live in the four-bedroom upper apartment that "suffered the tragedy," Kelvin Jeremiah, the housing authority's president and CEO, said last year.
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