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Agreement reached in principle with Official Creditor Committee

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The government yesterday announced that it had reached an agreement in principle with its Official Creditor Committee (OCC) on the financial terms of a debt treatment.

Issuing a press release the Ministry of Finance, Economic Stabilization and National Policies said the agreement in principle covers approximately 5.9 billion U.S. dollars of outstanding public debt and consists in a mix of long-term maturity extension and reduction in interest rates.

The agreement will facilitate a swift approval by the IMF Executive Board of the First Review of Sri Lanka’s IMF-supported programme, allowing for the next tranche of IMF financing of about US$ 334 million to be disbursed, the ministry said.

The agreed-upon debt treatment terms will be further’ detailed and formalized in a Memorandum of Understanding between Sri Lanka and the OCC, which will then be implemented through bilateral agreements with each OCC member, in accordance with their laws and regulations. The Sri Lankan Government looks forward to a prompt implementation of the agreed terms.

“This agreement marks a landmark step for Sri Lanka. We extend our sincerest thanks to the OCC and its co-chairs, Japan, India and France, for the unwavering support in resolving our country’s public debt situation. This agreement serves as a key milestone in Sri Lanka’s ongoing endeavour to achieve public debt sustainability and to foster economic recovery,” Secretary to the Treasury K M Mahinda Siriwardana said.

Given below is the press release : “This agreement in principle, together with the agreement in principle reached last month with China Eximbank, goes a long way in dealing with Sri Lanka’s external bilateral debt restructuring. The next steps will include finalizing similar agreements with our remaining official bilateral creditors, including Saudi Arabia, Pakistan, Kuwait and Iran, altogether representing a further US$ 274 million of outstanding claims.

“Sri Lanka now intends to focus its efforts on reaching comparable debt restructuring agreements with external commercial creditors, mid in particular with its holders of international sovereign bonds. Good faith engagement is still ongoing in that regard, and the authorities would like to invite its bondholders to now accelerate the discussions with a view to coming to a mutually acceptable agreement as promptly as possible.

The authorities would like to reaffirm their commitment to transparency, comparable treatment of all participating external creditors, and full compliance with the debt sustainability targets under the IMF-supported programme.”



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One dead in US after being struck by taking off Frontier Airlines plane

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A Frontier Airlines jetliner taxis down a runway for take off from Denver International Airport in Denver, Colorado [Aljazeera]

A person has died after jumping an airport perimeter fence in the US state of Colorado and being struck by a Frontier Airlines plane, according to authorities.

Denver International Airport said the unusual incident occurred late Friday, after the unidentified individual gained access to the tarmac.

It said the “pedestrian jumped the perimeter fence and was hit just two minutes later while crossing the runway”.

A brief engine fire followed the collision, which was put out by emergency responders, according to the airport.

It said that 12 of the 231 people on board suffered minor injuries, with five hospitalised.

The airport said investigators had examined the fence line where the individual entered and “found it to be intact”.

It added that the struck individual “is not believed to be an employee of the airport”.

“We are extremely saddened by this incident and express our sympathies to those involved,” the airport said.

Both local authorities and the National Transportation Safety Board (NTSB) were investigating the incident.

Airport safety in the US came under renewed scrutiny earlier this year amid a prolonged shutdown of the Department of Homeland Security (DHS), which temporarily left both Transportation Security Agents (TSA) and air traffic controllers working without pay.

While instances of people being killed on airport tarmacs are rare, Friday’s incident came a day after a Delta employee was killed after an airport vehicle struck an airbridge at Orlando International Airport.

In March, two pilots were  killed after an Air Canada Express plane crashed into a fire-rescue vehicle at LaGuardia Airport in New York.

About 225,000 people travel through Denver International Airport a day.

[Aljazeera]

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Showers above 100 mm are likely at some places in the  Western, Sabaragamuwa, Central, Southern, Uva, North-western and Northern provinces and in Anuradhapura district.

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WEATHER FORECAST FOR 10 MAY 2026
Issued at 05.30 a.m. on 10 May 2026 by the Department of Meteorology

The low-level atmospheric disturbance in the vicinity of Sri Lanka is likely to develop into a low-pressure area around 11th of May. Therefore, the prevailing showery conditions over the island are expected to continue during the next few days.

Showers or thundershowers will occur at most places over the island, and cloudy skies are expected over the island. Heavy showers above 100 mm are likely at some places in the  Western, Sabaragamuwa, Central, Southern, Uva, North-western and Northern provinces and in Anuradhapura district.

The general public is kindly requested to take adequate precautions to minimize damage caused by temporary localized strong winds and lightning during thundershowers.

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Lanka Port City officials to meet investors in Dubai

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ECONOMYNEXT –Colombo Port City (CPC) officials will head to Dubai to meet with investors on June 11, as Sri Lanka’s most ambitious economic zone looks for further foreign investments.

“We are meeting people in Dubai and the Middle East in order to demonstrate that Colombo Port City can be a supplementary zone of investment,” Harsha Amarasekara, Chairman, Colombo Port City Economic Commission (CPCEC), told Economynext.

The meeting will be organised by CPCEC, China Harbour Engineering Company, Consulate General of Sri Lanka – Dubai, and the Embassy of Sri Lanka – Abu Dhabi.

Foreign investor meetings have been a consistent factor in marketing CPC, and identifying potential markets has been a priority for CHEC and CPCEC.

“We have shortlisted and identified primary markets and we have combed the globe in that to say have a rationale behind why you would want to do certain things, a road show in a particular country,” Thulci Aluwihare, Deputy Managing Director, CHEC Port City Colombo, told Echelon Media.

“Once we kind of shortlist on that, then we aggressively go and market Port City, first Sri Lanka I should say, then Port City.”

“Sri Lanka is known in the world as a tourist destination, not essentially for a doing business capital. That is the narrative that we are trying to change,” he added.

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