News
Country retains services of two international financial and legal advisors to help restructure its external debt
Sri Lanka had hired two international financial and legal advisors to help restructure Sri Lanka’s external debt, Cabinet Spokesperson Minister Bandula Gunawardane told the media on Tuesday.
Gunawardena said that the Cabinet of Ministers had on Monday approved hiring an International Financial Advisory Service provider and an International Legal Advisory Service provider to restructure the external debt of the country.
The Minister said that Lazard Ltd., of France had been chosen for financial advice and Clifford Chance LLP for legal advice.
Minister Gunawardane said that they had received 28 proposals from International Financial Advisory Service providers and 23 proposals from International Legal Advisory Service providers.
The two institutions were recommended by a Steering Committee appointed by the Cabinet.
The two institutions have handled debt talks for dozens of crisis-strained countries in recent years.
Sri Lanka, in April defaulted on its outstanding debt for the first time in its history. (RK)
Following the conclusion of bilateral discussions between President Anura Kumara Disanayake and Prime Minister of India, Shri Narendra Modi, official-level talks between the delegations of Sri Lanka and India commenced this morning (05) at the Presidential Secretariat in Colombo.
Representing the Government of Sri Lanka were Prime Minister Dr. Harini Amarasuriya, Minister of Foreign Affairs, Foreign Employment and Tourism, Vijitha Herath; Minister of Labour and Deputy Minister of Economic Development, Anil Jayantha; Secretary to the President Dr. Nandika Sanath Kumanayake; Governor of the Central Bank of Sri Lanka, Dr. P. Nandalal Weerasinghe, along with other senior officials.
The Indian delegation included Minister of External Affairs Dr. S. Jaishankar, National Security Advisor Ajit Doval, Foreign Secretary Vikram Misri and His Excellency Santosh Jha, High Commissioner of India to Sri Lanka, along with several other senior officials of the Government of India.
Indian Prime Minister Shri Narendra Modi, who arrived in Sri Lanka on the invitation of President Anura Kumara Disanayake on Friday [04] night, visited the Presidential Secretariat this morning (05).
The Indian Prime Minister was warmly welcomed by President Anura Kumara Disanayake upon his arrival at the Presidential Secretariat.
Prime Minister Modi is currently on a state visit to Sri Lanka, reaffirming the theme “Friendship of Centuries — Commitment to a Prosperous Future” which symbolises the longstanding ties between Sri Lanka and India. The Indian Premier is scheduled to remain in the country until tomorrow (06).
[PMD]
The official welcoming ceremony for Indian Prime Minister Narendra Modi, was held this morning (05) at the Independence Square in Colombo.
On arrival at the Independence Square the Indian Prime Minister was warmly welcomed by President Anura Kumara Disanayake.
Discussions between Sri Lankan and Indian delegations at the presidential secretariat
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Indian Prime Minister Shri Narendra Modi arrives at the presidential secretariat
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