Sri Lanka

Sri Lanka marked its 75th Independence Day amid widespread public discontent in the face of the country's worst economic crisis since independence in 1948.

It was outside this building that thousands of protesters set up camp in April last year to launch the ‘Aragalaya’ (Struggle) demanding the resignation of then President Gotabaya Rajapaksa for mishandling the economy. He, however, is dependent on the Rajapaksa-led Sri Lanka Podujana Peramuna (SLPP) party to push through his agenda in Parliament as the SLPP still holds most seats in the legislature. The tax affects those in the high-income bracket, but this is made up mostly of professionals such as doctors, engineers and bank employees. Though the country’s key inflation rate eased to 54.2 per cent in January from 57.2 per cent in December as part of a downward trend, the cost of living remains high. “I used to watch the (Independence Day) ceremony every year. They warn that the state-run health sector, which provides universal healthcare, is on the verge of collapse. Nuwan Bopage, a lawyer who was present during the protest, accused the police of setting thugs on the peaceful demonstrators and then attempting to portray that they intervened to break up a clash. Bopage noted that as citizens, they had every right to protest against holding an Independence Day celebration when the country was in economic turmoil. More than 6,000 members of the armed forces and police marched along Galle Face Boulevard to the tune of bands while navy ships sailed offshore and air force planes flew overhead. It was then that they withdrew and allowed a group of thugs to attack us.” Catholic priest Cyril Gamini Fernando called the event a “crime and waste” at a time when the country was bankrupt. Armed soldiers patrolled the city’s streets while police also obtained a court order to prevent protesters from marching towards Galle Face.

The Four Day March Will Reach its Destination Batticaloa on Tuesday (7th) with a Huge meeting and Declaration..

Tamils periodically faced state supported anti-Tamil pogroms including in 1958, 1977 and 1983 resulting in thousands of Tamils killed and Tamil women sexually assaulted and raped. This protest march for Tamil demands, started on Sri Lanka's independences day, which the students declared a day of mourning to protest against continuing discrimination and abuse since independence 75 years ago. According to UN around 70 thousand Tamils were killed in six months in 2009.

Sri Lanka marked its 75th independence anniversary on Saturday as a bankrupt nation, with many citizens angry, anxious and in no mood to celebrate.

He said from the early days of independence, Sri Lankans were divided in terms of race, religion and region. More than 100,000 people were killed in the conflict by conservative U.N estimates. He also promised to devolve maximum power to the Tamil regions. Also, the military, which had swelled to more than 200,000 members amid a long civil war, will be downsized by nearly half by 2030. The country’s total foreign debt exceeds $51 billion, of which $28 billion has to be repaid by 2027. Troops with assault rifles were stationed every few meters (yards) surrounding the site of the independence ceremony and riot police stood ready to prevent anti-government demonstrations.

Download logoThe Embassy of Sri Lanka in Addis Ababa, Ethiopia ceremonially commemorated the 75th anniversary of independence of Sri Lanka at the Embassy.

While welcoming the significant contribution made by the Sri Lankan nationals in Ethiopia, the Ambassador of Sri Lanka to Ethiopia, K.K. Further, the Independence Day messages issued by the President, the Prime Minister and the Minister of Foreign Affairs of Sri Lanka were presented by the Mission staff. The issuer is solely responsible for the content of this announcement.

Trade unions to hold strike across Sri Lanka Feb. 8. Demonstrations, disruptions likely. Clashes possible.

Allow additional travel time in Colombo and other urban centers due to potential protests. Protests could turn violent quickly, though security forces are usually quick to resort to the use of force to disperse unruly gatherings. Workers will likely attempt to hold protests during the action.

Location: Colombo, Sri Lanka. Event: The Embassy is aware of the following planned demonstrations tomorrow (February 8), which may make travel around ...

[Maldives Country Information](https://travel.state.gov/content/travel/en/international-travel/International-Travel-Country-Information-Pages/Maldives.html) [Sri Lanka Country Information](https://travel.state.gov/content/travel/en/traveladvisories/traveladvisories/sri-lanka-travel-advisory.html) [Smart Traveler Enrollment Program](https://step.state.gov/step/) (STEP) to receive security updates. - The National Buddhist Monks Front plans to protest at Victoria Park at 9:30 AM. This group may change location and move throughout Colombo as the day unfolds. [Facebook (American Center Maldives)](https://gcc02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.facebook.com%2FAmericanCenterMaldives%2F&data=05%7C01%7CSullivanD%40state.gov%7C052d145a38124fdaab6a08db0903ff3e%7C66cf50745afe48d1a691a12b2121f44b%7C0%7C0%7C638113684998289045%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=24FgTCVpXvVY00EKtUm4gP1sAZmtCIRyUqPMgxlLW9U%3D&reserved=0) OR

By Aanya Wipulasena. Colombo, Feb 7 (EFE).- Fifth-five year old W.D. Karunawathi, who is a mother of three, has been queuing along with thousands of other ...

If I can, I will help the whole country to join me,” M. I plan to go first and help my family join me later. I don’t have a job here, and my husband is a daily wage worker. According to data from the Ministry of Labor and Foreign Employment, 311,269 people migrated for work from Sri Lanka in 2022, exceeding the previous record of 300,703 people who left the country in 2014. The migrants are driven by the idea that the only way to weather the crisis is to leave the country in search of opportunities. Runaway inflation and an unaffordable cost of living led Sri Lanka to record the highest number of migrants in nearly a decade in 2022.

A Bus Transporting Families of the Disappeared to the University Students Protest Rally Today was Damaged.

Tamils periodically faced state supported anti-Tamil pogroms including in 1958, 1977 and 1983 resulting in thousands of Tamils killed and Tamil women sexually assaulted and raped. The marchers passed through the area where according to UN around 70 thousand Tamils were killed in 2009. This protest march for Tamil demands, started on Sri Lanka's independences day, which the students declared a day of mourning to protest against continuing discrimination and abuse since independence 75 years ago.

Paris Club creditors as well as Hungary and Saudi Arabia called on the world's second-biggest economy to give the financial assurances needed for the South ...

The call comes amid growing fears that China’s unilateral positioning might delay and complicate the financial rescue of Sri Lanka just like it happened in the case of Zambia. [Paris Club](https://www.bloomberg.com/news/articles/2023-02-02/paris-club-backs-sri-lanka-debt-plan-to-help-unlock-imf-deal) creditors as well as Hungary and Saudi Arabia called on the world’s second-biggest economy to give the financial assurances needed for the South Asian nation to secure a $2.9 billion bailout from the International Monetary Fund.

Paris Club members as well as Hungary, Saudi Arabia and India continue to look forward to working together along with all bilateral creditors.

They have examined the macroeconomic and financial situation of Sri Lanka, including its long-term debt sustainability, and the need for a debt treatment by all ...

Shortly after the conclusion of a staff-level agreement between the Sri Lankan authorities and IMF staff on September 1, 2022, on a 48-month Extended Fund Facility arrangement, the Paris Club publicly stated its readiness to provide the necessary financing assurances in a timely manner and in coordination with other bilateral official creditors. Members have further expressed appreciation for the specific and credible financing assurances issued by India on January 16, 2023 and its coordination with the Paris Club. Non-Paris Club members include China, India, Saudi Arabia, Kuwait, Hungary, Iran, Pakistan, and Bangladesh.

Paris Club Creditors give assurances on SL COLOMBO (News 1st) - The Paris Club Creditors have provided financing assurances to support the International ...

Shortly after the conclusion of a staff-level agreement between the Sri Lankan authorities and IMF staff on September 1, 2022, on a 48-month Extended Fund Facility arrangement, the Paris Club publicly stated its readiness to provide the necessary financing assurances in a timely manner and in coordination with other bilateral official creditors. Members further expressed appreciation for the specific and credible financing assurances issued by India on January 16, 2023 and its coordination with the Paris Club. Non-Paris Club members include China, India, Saudi Arabia, Kuwait, Hungary, Iran, Pakistan, and Bangladesh. The Paris Club was formed in 1956. Saudi Arabia expressed its support for the process and acknowledged the importance to offer financing assurances in the near future. They also presented their reform program that will be supported by an IMF arrangement requiring a debt treatment to restore debt sustainability, as well as the prior actions already implemented," said the statement.

The Paris Club of creditors has given financing assurances to support the International Monetary Fund's approval of an extended fund facility for Sri Lanka ...

The United States has the biggest share of IMF votes. Article content To unlock the IMF’s cash disbursements, the government first needs to secure financing assurances from key bilateral lenders such as Japan, India and China.

The Paris Club of creditor nations have provided the required financing assurances to support the International Monetary Fund's (IMF) approval for the ...

official visiting Colombo said on Wednesday that Beijing has not done enough. [Paris Club Creditors statement on providing financing assurances to support IMF bailout for Sri Lanka](https://www.scribd.com/document/624331400/Paris-Club-Creditors-statement-on-providing-financing-assurances-to-support-IMF-bailout-for-Sri-Lanka#from_embed) by [Adaderana Online](https://www.scribd.com/user/537385388/Adaderana-Online#from_embed) on Scribd The Paris Club of creditor nations have provided the required financing assurances to support the International Monetary Fund’s (IMF) approval for the Extended Fund Facility (EFF) for Sri Lanka, the President’s Media Division (PMD) reported.

The Paris Club of creditors has given financing assurances to support the International Monetary Fund's approval of an extended fund facility for Sri Lanka, ...

"Members further expressed appreciation for the specific and credible financing assurances issued by India on Jan. Sri Lanka has to restructure debt payments of about $13 billion on 11 international bonds. The United States has the biggest share of IMF votes. Under Secretary of State for Political Affairs Victoria Nuland. Register for free to Reuters and know the full story "Paris Club members as well as Hungary, Saudi Arabia and India continue to look forward to working together along with all bilateral creditors and to engage with other key stakeholders in order to proceed with a comparable debt restructuring as soon as possible," the informal group of creditors said in a separate

More than nine months since Sri Lanka defaulted on its international bonds and entered the worst economic crisis in its history, people are (...)

At the same time, the people of Sri Lanka also need a clear path to a human-centred recovery based on decent work under a Levels of relief need to be enough to ensure debt sustainability is restored, vital public services protected and fiscal space for long-term investment increased. Adding to the country’s plight, the IMF will not release its US$2.9bn bailout package due to a continued lack of commitments from key official creditors and private external bond holders over the restructuring of Sri Lanka’s enormous debt burden.

Before the pandemic Sri Lanka was one of the hottest locations on the planet to visit, is that still the case after mass protests and an economic crisis?

He had to reassure people he lived in Sri Lanka and was just going home. Gunathilaka woke up in her tent to the sounds of people, a lot of them. “They’re asking us to accept a situation like that as stable. “You hear shots being fired in front of you, your instinct would be to run around run away, right? “And Lanka is very easy for them. And the tourist goes right through the protest march and everybody waves them goodbye, and they continue. They knew to wash their eyes out with water, some like herself had even brought masks along. His employees rang fuel stations to find out which ones had petrol left then marked those locations on a map. On paper, there were few ways to oppose the ruling regime through legal channels. “Protest leaders would spot that these people were tourists and say 'alright stop, stop, everybody aside, everybody aside’. They might involve sampling a specific curry at a small food stall hidden away in the jungle or role-playing fighting off invaders at an ancient fort. The tuk-tuk tournament divides Sri Lanka into zones.

India had been the only major bilateral creditor to have given financing assurances to the IMF towards restructuring the debt earlier last month. Sri Lanka ...

India had also extended unprecedented assistance to the island nation to the tune of USD 4 billion. China has been under criticism for several of white elephant projects in Sri Lanka including the Hambantota port. The tweet further said that the other official bilateral creditors including China, have been urged to do the same in line with IMF program parameters by the Paris Club members.

ECONOMYNEXT – Sri Lanka is struggling to come out of its unprecedented economic crisis as delay in a $2.9 billion International Monetary Fund (IMF) loan ...

However, most people in social media have criticized the SLPP for winning the poll with false promises and misleading the public. Local Government polls: Opposition parties have the edge in the upcoming local government polls schedule for March 9. The results of the poll cannot have any changes in the parliament composition or policies. Political analysts say the unpopularity of Wickremesinghe’s government is growing except for making essentials like fuel and cooking gas available without queues. Wickremesinghe’s government is compelled to listen to neighbour India due to past experiences of sudden government changes when they don’t heed to New Delhi, but at the same time to keep Beijing close because of “deep pockets” for investments and loans. Delayed IMF loan approval: President Ranil Wickremesinghe’s government has already fulfilled many prior conditions for the IMF loan and it has been waiting for financial assurances from its creditors.

Representatives from the Paris Club, International Monetary Fund, World Bank, Hungary, Saudi Arabia, Kuwait, and India met on January 25, 2023, to provide ...

Paris Club members acknowledged the Sri Lankan authorities’ commitment to seek debt treatment from all its commercial creditors and other official bilateral creditors on terms at least as favourable. The Paris Club, formed in 1956, is an informal group of official creditors whose role is to find coordinated and sustainable solutions to the payment difficulties experienced by borrower countries. The representatives examined Sri Lanka’s macroeconomic and financial situation, including its long-term debt sustainability and need for debt treatment from all bilateral creditors.

Enterprising Sri Lankans have come up with the idea of a 'rage room' to help people vent their anger as the country is in the grip of a deep economic ...

Members further expressed appreciation for the specific and credible financing assurance s issued by India on January 16, 2023 and its coordination with the Paris Club. They also presented their reform program that will be supported by an IMF arrangement requiring a debt treatment to restore debt sustainability, as well as the prior actions already implemented. We acknowledge that the Sri Lankan authorities had the opportunity to present Sri Lanka’s economic and financial situation to their creditors, which underscored the need for debt treatment from all creditors.

Sri Lanka on Tuesday said that extraction of scrap metal out of the wreck of X-press Pearl, the Singapore-flagged container ship which went up in flames and ...

Additionally, the customs duties and a cess tax of 10 per cent must also be paid," state minister of finance [Ranjith Siyambalapitiya](/topic/ranjith-siyambalapitiya)said. [Business News](/news), [Breaking News](/breakingnewslist.cms)Events and [Latest News](/news/latest-news)Updates on [The Economic Times](/).) [Sri Lanka](/topic/sri-lanka)on Tuesday said that extraction of scrap metal out of the wreck of X-press [Pearl](/topic/pearl), the Singapore-flagged container ship which went up in flames and sunk in the country's waters, would be permitted only after the customs levies and a 10 per cent cess tax.

As the official bilateral creditor, EXIM Bank of China provided a financing support document to the Ministry of Finance, Economic Stabilisation and National ...

The Export-Import Bank of China has already provided Sri Lanka with the letter to express support for its debt sustainability. Sri Lanka has responded positively and thanked China for that,” Ning said responding to journalists at a regular press conference last week. “Going forward, China will continue to support relevant financial institutions in actively working out the debt treatment. “As we have said several times, as a friendly neighbour and true friend, China has been providing assistance for Sri Lanka’s economic and social development to the best of our capabilities. “This speaks to China’s sincerity and action to support Sri Lanka’s effort to achieve debt sustainability,” she added. Others opined that Sri Lanka will have to deal separately with CDB since it is categorised under “Commercial” creditors.

The US Under Secretary of State for Political Affairs, Victoria Nuland, visited Sri Lanka last week and dominating her agenda with the government was the core ...

So the real price of Chinese reluctance for serious debt renegotiations is that it prevents even other creditors from doing so. Predictably the Chinese were quick to defend their not very generous offer as the epitome of reasonableness and were sharp in their rebuttal. However for them, the Paris Club and all other creditors, is the cardinal principal of equal treatment that early movers who make concessions would not receive less favorable terms than the hold outs. Mostly due to some adroit work by some of Sri Lanka’s other friends, namely India and the Paris Club of creditor nations, the Chinese find themselves in the unenviable position where all others are ready for a pragmatic and generous approach to debt restructuring while for them the very mention of it is unthinkable, a likely unviable long term position. Nuland was blunt about the main factor obstructing the receipt of an IMF structural adjustment facility and that was the reluctance of the Chinese Government, through their state owned financial entities, to seriously explore the issue of a debt write down. The issue becomes how responsible is the lender for this fate of the borrower?

Representatives from the Paris Club, International Monetary Fund, World Bank, Hungary, Saudi Arabia, Kuwait, and India met on January 25, 2023, to provide ...

Paris Club members acknowledged the Sri Lankan authorities’ commitment to seek debt treatment from all its commercial creditors and other official bilateral creditors on terms at least as favourable. The representatives examined Sri Lanka’s macroeconomic and financial situation, including its long-term debt sustainability and need for debt treatment from all bilateral creditors. They also urged other official bilateral creditors, including China, to provide financing assurances in line with the IMF program parameters as soon as possible.

Sri Lanka's economy is expected to grow again from the end of this year and the government hopes to extricate the country from its economic crisis by 2026, ...

"If we continue according to this plan, we can rise out of bankruptcy by 2026. We are now working towards unifying the approaches of other countries and that of China." By the end of 2023, we can achieve economic growth," President Wickremesinghe said in a special policy statement to parliament. "We are in direct discussions with China. Wickremesinghe said the aim was to reduce inflation to single digits by the end of the year. Register for free to Reuters and know the full story

Sri Lanka's president Ranil Wickremesinghe said the bankrupt country has taken difficult measures and is pushing closer toward securing an International ...

NEW DELHI : Sri Lanka's economy is expected to grow again from the end of this year and the government wants the country to exit bankruptcy by 2026, ...

* "We should take action to rectify tax divergence. By the end of 2023, we can achieve economic growth." Advertisement