IMF said its executive board approved nearly $3 billion bailout for Sri Lanka. President’s office said the programme will enable it to access up to $7 billion in overall funding.
The increase is the latest measure to clinch a $2.9 billion loan from IMF to tackle a crisis that evolved from pandemic, rising oil prices and populist tax cuts by previous govt.
The Presidential office said that while the status change to 'low income country' won't happen, they will request eligibility for loans offered by International Development Association.
The global financial body eyes creditor assurances as it prepares a visit to the island nation, and says the country's 'public debt is assessed as unsustainable'.
Speaking at IIT Delhi, USAID administrator Samantha Power Wednesday hailed New Delhi as an 'impactful development leader' and 'a friend to the world's poor'.
High Commissioner of India to Sri Lanka Gopal Baglay added that New Delhi will also work with the island nation’s new govt to facilitate talks for a bailout package from the IMF.
A day after Ranil Wickremasinghe takes oath as President, protestors at a site in Galle Face reportedly ‘attacked’, ‘taken away’. Incident receives international condemnation.
Sri Lankan Parliament elects ex-PM Ranil Wickremesinghe to serve out rest of former President Gotabaya Rajapaksa's term. He wins 134 out of 225 MPs' votes, with nearest rival at 82.
Comments came during presentations by external affairs minister S. Jaishankar and economic affairs secretary Ajay Seth at all-party meeting called to discuss Sri Lankan crisis Tuesday.
As much as I loved seeing Miley Cyrus walk into the closet of my dreams in the Hannah Montana reunion, I hate that the anniversary special didn’t tell me what my favourite pop star is doing 20 years later.
The system was to delivered in March but will now reach the Indian shores by May, or June. The fifth S-400 will be delivered in the last quarter of this year.
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