We are solving the economic crisis faced by Sri Lanka – By Dr Harold Gunatillake
Transcript:
America to help Sri Lanka get out of debt. Seek assistance from the International Monetary Fund through an Extended Fund Facility (EFF) being processed The United States, following its principles, stands ready to join other
members of the Paris Community, sharing with Sri Lanka the common goal of accelerating financial assurance.
The United States Treasury Secretary, Mrs Janet Yellen, has informed President Ranil Wickremesinghe that she will support debt restructuring in Sri Lanka. The Treasury Secretary has also informed that the World Bank, Asian Development Bank and American financial institutions are working to provide support following the financial rules to solve the economic crisis faced by Sri Lanka. Accepting President Ranil Wickremesinghe’s proposal for a coordination platform for Sri Lanka’s official bilateral creditors, the United States Treasury requests action in this regard. The United States, following its principles, stands ready to join other members of the Paris Community, sharing with Sri Lanka the common goal of accelerating financial assurance.
And the US Treasury has pledged to continue to engage with other government agencies as well as the World Bank and Asian Development Bank to help the people of Sri Lanka. The Treasury Secretary further informed that the United States had provided mutual support to the people of Sri Lanka by increasing the nutrition of school children, providing food vouchers for pregnant women and new mothers, and providing fertilisers and money to small and medium-scale farmers to increase food production. The United States Department of the Treasury has expressed appreciation for the Sri Lankan government’s decision to seek assistance from the International Monetary Fund through an Extended Fund Facility (EFF).
“We are Happy” – IMF
Kristalina Georgieva, Managing Director of the International Monetary Fund, says she is pleased to be able to reach a staff-level agreement to support Sri Lanka’s economic aspirations.
The International Monetary Fund officially announced that Sri Lanka has recently reached a staff-level agreement with them. That is by mentioning that comprehensive funding facilities of 2.9 billion dollars will be provided by the International Monetary Fund in the future. This is going to be implemented under a 48-month program.
Sri Lanka:
Grand Corruption
Many of the protesters, as well as policy experts, blamed government corruption in part for Sri Lanka’s economic crisis. The IMF has sought “structural reforms to address corruption vulnerabilities.” At the same time, the World Bank said that before it provides new financing, it is “working closely with implementing agencies to establish robust controls and fiduciary oversight to ensure these resources reach the poorest and most vulnerable.” Commit to adopting robust anti-corruption measures based on previous proposals, with appropriate public scrutiny; Enact procurement legislation requiring open bidding for government contracts; Rejoin the Stolen Assets Recovery (StAR) initiative, a joint program of the World Bank and the United Nations Office on Drugs and Crime.
So far, over 200,000 people went for foreign employment this year
According to the Foreign Employment Bureau, 208,772 Sri Lankans have left for foreign jobs this year alone. According to its media statement, Deputy General Manager Mr Gamini Senarath Yapa says that most of them are men, and the number is over 126,000. He also stated that 2858 Sri Lankans have left for work in South Korea.
These people seeking employment in foreign countries are our assets bringing in dollars to their kith and kin, thus benefitting the country.
China donates 5000 MT of rice to school students in SL.
China has granted 5,000 metric tons of rice to provide rice aid to nearly 1 million school students. This program will be implemented in 7,925 selected schools and will cover 78% of the total number of schools in Sri Lanka. The official handing over of the rice stock to Sri Lanka occurred at the Ministry of Education, attended by Mr Susil Premajayantha, Minister of Education and Chinese Ambassador Qi Zhenhong.
All parties agree to form the National Assembly
An agreement has been reached at the party leaders’ meeting held yesterday (07) at the Parliament Complex under the chairmanship of Prime Minister Dinesh Gunawardena to form the ‘National Assembly’ with the participation of all the political party leaders in the Parliament. This National Assembly is established with the aim of alleviating the economic and social crisis that has arisen in the country.
Amidst the crisis problem, a State of the Art shopping Mall in Kandy.
Kandy is in the central province of Sri Lanka. It’s one of the most critical places in Sri Lanka because the Temple of the Sacred Tooth is there. It is a major city in Sri Lanka and a very developed city. This city also has some parks, and most are very pleasant. A place to retire with your dollars and life is most pleasant in a salubrious climate, not too
cold as well, not hot. You can see greenery everywhere, but there are no beaches here, but a walk around Kandy
lake is customary for all those living in this fortunate city. This city has many tourist attractions also. People here are amiable and well-educated.
When you are in Kandy
: Softlogic launches ODEL Mall Kandy Softlogic Holdings PLC announced the launch of its newest retail development – The ‘ODEL Mall in Kandy’ last week. The expansive 91,414 sq ft ODEL Mall is poised to be Kandy’s most sought-after state-ofthe-art, premium lifestyle shopping destination in the heart of Sri Lanka’s hill capital.
Saudi Arabia likes to lend fuel to Sri Lanka for up to 5 years It is reported that the Saudi Arabian government has expressed an initial agreement to provide fuel worth US$ 6 billion per year for a continuous period of 5 years under the credit basis.
Sources say that Environment Minister Nasir Ahmed, who visited Saudi Arabia as a special representative of President Ranil Wickremesinghe, received this initial agreement during a discussion made with the authorities of the country.
The discussions focused on fuel supply to Sri Lanka under a five-year loan plan. So, viewers, I hope you are pleased that your and my people living in Sri Lanka, with the sympathetic help from foreign nations, grants, bailouts, and good administration, will come out of this Econo-social crisis soon, and let’s pray for that. Stay safe, and goodbye for now.
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