News
IMF releases another USD 336 mn for SL
Govt.: ‘Is Opposition resorting to act of terrorism to ruin economy?’
State Minister of Finance Shehan Semasinghe, yesterday, asked the Opposition not to disseminate false information, which was fraught with the danger of disrupting the economic recovery process, which had received a boost from the release by the IMF of another USD 336 million under its Extended Fund Facility (EFF) arrangement. Addressing the media, Semasinghe said he wondered whether the Opposition was resorting to an act of terrorism to cause an erosion of public confidence in the process of economic rebuilding.
The Executive Board of the IMF completed the second review under the 48-month EFF Arrangement, making available to Sri Lanka USD 336 million, which brings the total IMF financial support disbursed so far to more than USD 1 billion). The Executive Board also concluded the 2024 Article IV Consultation with Sri Lanka, the IMF, said in a statement.
The EFF arrangement for Sri Lanka was approved by the Executive Board on March 20, 2023 in an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion). The first review of the EFF was completed by the Executive Board on December 12, 2023 with disbursements of SDR 254 million (about US$337 million).
The Cabinet of Ministers has approved the resolution furnished by the Minister of Industries and Entrepreneurship Development to recognize the “Sri Lanka National Export
Development Plan – 2026–2030” as the official strategic framework for export development and promotion of exports in Sri Lanka.
The Sri Lanka Export Development Board, in collaboration with public and private sector stakeholders connected to the export sector, has formulated the National Export Development Plan 2026–2030 by obtaining technical assistance under the Policy-Based Lending Programme of the Asian Development Bank.
The aforementioned Plan provides a comprehensive strategic framework to guide and monitor Sri Lanka’s export development process, with the target of earning US$ 36 billion in foreign exchange through the export of goods and services by the year 2030
The Cabinet of Ministers has approved the resolution furnished by the Minister of Women and Child Affairs to accept the Global Charter for Children’s Care Reform for Sri Lanka.
Approval has been granted by the Cabinet of Ministers on several earlier occasions to amend the Consumer Affairs Authority Act No. 9 of 2003.
In accordance with the approval granted at the Cabinet
meeting held on 2023-05-02, the Legal Draftsman is currently in the process of preparing the relevant amended Bill, and the Legal Draftsman has informed that it would be appropriate to obtain policy approval from the present Cabinet of Ministers for that purpose.
Accordingly, taking into consideration the necessity of restructuring the Consumer Affairs Authority too, the Cabinet of Ministers has approved the resolution furnished by the Minister of Trade, Commerce, Food Security and Cooperative
Development to instruct the Legal Draftsman to expeditiously complete the preparation of the relevant Bill to enable the amendment of the Consumer Affairs Authority Act, No. 9 of 2003.
Cabinet approves recognition of ‘Sri Lanka National Export Development Plan – 2026–2030’
Cabinet nod to accept the Global Charter for Children’s Care Reform for Sri Lanka
Cabinet grants policy approval to amend the Consumer Affairs Authority Act, No. 9 of 2003
Cabinet approal for Legal Draftsman to prepare a Bill to enable the amendment of Finance Business Act, No. 42 of 2011
M.S. Mahadiulwewa appointed act in the post of Director General of Commerce
Wimal S.K. Liyanagama appointed Director General of Customs
‘Dates have the highest sugar content to fight Coronavirus’
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