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Masahiro Nozaki - Peter Breuer - Anti-Corruption & Governance reforms are critical – IMF - newsfirst.lk - Sri Lanka
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Anti-Corruption & Governance reforms are critical – IMF
COLOMBO (News 1st); The International Monetary Fund has emphasized the importance of anti-corruption and governance reforms as a central pillar of the EFF-supported program as they are indispensable to ensure the hard-won gains from the reforms benefit the Sri Lankan people.In a statement issued ahead of the IMF press briefing on Tuesday (21) morning, Peter Breuer, Senior Mission Chief for Sri Lanka & Masahiro Nozaki, Mission Chief for Sri Lanka noted that Sri Lankan authorities have committed to fundamentally improve public financial management and strengthen the anti-corruption legal framework in line with the United Nations Convention against Corruption.The reform program supported under the EFF arrangement is built on strong policy measures and prioritizes:(i) an ambitious revenue-based fiscal consolidation, accompanied by stronger social safety nets, fiscal institutional reforms, and cost-recovery based energy pricing to ensure the state’s ability to support all its essential expenditures;(ii) restoration of public debt sustainability, including through a debt restructuring to ensure stable financing of the government’s operations;(iii) a multi-pronged strategy to restore price stability and rebuild reserves under greater exchange rate flexibility in order to alleviate the burden of inflation, particularly on the poor, to foster an environment of investment and growth, and to ensure Sri Lanka's ability to purchase essential goods from abroad;(iv) policies to safeguard financial sector stability to ensure that the financial sector can play its key role in supporting economic growth; and(v) structural reforms to address corruption vulnerabilities and enhance growth. It is now essential to continue the reform momentum
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.
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.
Sri Lankans - Tharaka Balasuriya - Sri Lanka attends UN conference in Qatar - newsfirst.lk - Sri Lanka - Italy - Palestine - Qatar - city Doha, Qatar
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Sri Lanka attends UN conference in Qatar
Colombo (News 1st) – State Minister of Foreign Affairs Tharaka Balasuriya was amongst the dignitaries present for the Fifth United Nations Conference on the Least Developed Countries taking place in Doha, Qatar The event is being held from the 5th to the 9th of this month.State Minister Tharaka Balasuriya met with counterpart Sultan bin Saad Al Muraikhi, the Minister of State for Foreign Affairs in Qatar, for a discussion that touched upon many areas including the recognition of the Sri Lankan Engineering degrees by Qatari authorities and Sri Lanka's technical support for Qatari government's attempt to promote cricket in Qatar. Tharaka Balasuriya also expressed Sri Lanka's unwavering support for the Palestinian cause and its people to the President of the State of Palestine Mahmoud Abbas.With ongoing progressions and developments on the new establishment of the Office of Overseas Sri Lankans, the State Minister held a side meeting with HE Antonio Vitorino, Director of IOM in Doha, in which HE Vitorino assured IOM support on the digitalization of the Office of Overseas Sri Lankans as well as continuous support of the IOM with matters pertaining to migration. State Minister Balasuriya also met with Deputy Minister of Foreign Affairs, Italy Maria Tripodi. Discussions were held, particularly on bilateral relations between the respective countries.
Dinesh Gunawardena - JICA to resume projects after IMF deal is finalized - newsfirst.lk - Japan - Usa - Sri Lanka
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JICA to resume projects after IMF deal is finalized
COLOMBO (News 1st); JICA is set to resume its ongoing projects in Sri Lanka no sooner the IMF package on debt restructuring finalized, said the Prime Minister's Media Division.Prime Minister Dinesh Gunawardena urged the Japan International Cooperation Agency (JICA) to recommence all the ongoing projects that are temporarily halted due to fiscal issues.He made this request when Director General of the South Asia Department of the Japan International Cooperation Agency (JICA), Teruyuki Ito met him on Monday (20).Teruyuki Ito assured the Prime Minister that JICA projects would be resumed no sooner the debt restructuring programme is finalized by the International Monetary Fund.12 JAICA projects worth US$ 2.5 billion have been temporarily halted due to the fiscal crisis. The JICA delegation had expressed satisfaction over the progress in debt restructuring plans, in which Japan also played a major role.The Prime Minister thanked JICA Director General for the continuous assistance provided to Sri Lanka for several decades for water treatment, sewerage, sanitation and solid waste treatment projects in several cities and towns. He also requested JICA to provide assistance in new areas such as renewable energy and electrification of public transport and railways.Prime Minister Gunawardena also briefed the JICA delegation about the steps taken to improve transparency and accountability in project implementation by enacting required legislations as recommended by the Committee appointed by the President. He added that a Budget Act would be passed to ensure continuation of nationally important projects and policies despite change of governments in power.
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