News
India expected to send ‘positive’ message on debt during Jaishankar’s visit to Lanka
Indian External Affairs Minister S. Jaishankar’s visit to Colombo on Thursday will focus on “supporting Sri Lanka” in its current economic crisis, government sources said, adding that talks are ongoing in the field of energy security, food security, currency swap arrangements as well as talks about restructuring Sri Lanka’s debt. The two-day visit is expected to see some announcements, said a report by The Hindu yesterday.
It said: “India is expected to give a positive response to Sri Lanka’s requirements, in keeping with India’s support last year as well,” said a source, citing India’s combined package of about $4 billion including loans, credit lines for the purchase of essentials and a loan deferment through the Asian Clearing Union.
In addition, talks are expected on two possible MoUs— on the Trincomalee development project and the long-pending plan for a cross-strait transmission line that would allow Sri Lanka access to India’s plans for an energy grid along with other countries like Nepal, Bhutan and Bangladesh.
The sources stressed that while assisting Sri Lanka with its current economic difficulties is a priority, Jaishankar’s visit, his first with the six-month-old government in Colombo, would see a comprehensive review of bilateral ties. </p><p>Meanwhile, diplomatic sources said that the support, in the form of “written financial assurances” from India would be critical for Sri Lanka as it works with its other creditors to resolve the economic crisis.
Announcing the visit by EAM Jaishankar, Lankan President Ranil Wickremesinghe said that he had discussed the need for the debt restructuring programme with all Sri Lanka’s creditors, including the 22-nation ‘Paris Club’ of 22 developed nations that hold much of the global debt and discuss solutions to debt crisis together.
“Japan and the Paris Club, two of our major creditors, have expressed their willingness to assist. We have already begun talks with India and China. According to the discussions with China Exim Bank recently, we’re currently debating on how to restructure our debt. The Chinese side has agreed to move quickly,” Wickremesinghe told a group of businessmen last week.
He said that Sri Lanka’s “only” option was to seek the support of the International Monetary Fund (IMF) for nearly three billion dollar bailout, and was also hopeful of a package from the Asian Development Bank (ADB).
“We discussed with China’s EXIM Bank this week and by now we have commenced exchanging views on it. India’s Foreign Minister is scheduled to visit Sri Lanka on the 19th to discuss the debt restructuring process. We are proceeding with these activities gradually,” the Sri Lankan President said to a separate group of trade union representatives, indicating the visit by Japanese State Minister of the Cabinet Office Satoshi Fujimaru and the ongoing visit of Chen Zhou, Vice Minister of the International Department, the Communist Party of China Central Committee.
After Chen’s meeting with President Wickremesinghe, the Chinese Embassy in Sri Lanka said the talks were “friendly and fruitful”, and quoted Wickremesinghe as saying that he “looked forward to China’s support in restructuring Sri Lanka’s debt at the moment and our economy in the near future”.
Sri Lanka had hoped to finalise its IMF bailout package, but missed a December deadline due to the delay in concluding debt restructure talks. It now hopes to complete the talks in the first quarter of 2023.
President Anura Kumara Disanayake has appointed Acting Ministers for four ministries before his departure on an official state visit to Vietnam.
The appointments cover three ministries under the President’s purview — the Ministry of Defence, the Ministry of Digital Economy and Ministry of Finance, Planning and Economic Development as well as the Ministry of Foreign Affairs, Foreign Employment and Tourism, which comes under the purview of Minister Vijitha Herath, who is accompanying the President on this official visit.
Accordingly, the following Acting Ministers have been appointed:
Minister of Labour and Deputy Minister of Economic Development, Dr. Anil Jayantha Fernando, has been appointed as Acting Minister of Finance, Planning and Economic Development.
Deputy Minister of Digital Economy Eranga Weeraratne, has been appointed as Acting Minister of Digital Economy.
Deputy Minister of Defence Aruna Jayasekara, has been appointed as Acting Minister of Defence.
Deputy Minister of Foreign Affairs and Foreign Employment Arun Hemachandra, has been appointed as Acting Minister of Foreign Affairs, Foreign Employment and Tourism.
[PMD]
Gen. Nakatani, Minister of Defense of Japan paid a courtesy call on Prime Minister Dr. Harini Amarasuriya, at Temple Trees today [May 4].
The discussion took place in the spirit of long-standing bilateral friendship and focused on strengthening cooperation between Japan and Sri Lanka, particularly in the areas of defense and regional security. Minister Nakatani extended his congratulations to the Prime Minister on behalf of the Government of Japan and reaffirmed Japan’s commitment to collaborative efforts in ensuring peace and stability across the Indo-Pacific region.
He also emphasized Sri Lanka’s strategic importance in maritime security and regional connectivity.
Prime Minister Amarasuriya expressed appreciation for Japan’s continued support through development partnerships, especially via the Japan International Cooperation Agency (JICA). She reiterated the government’s commitment to transparency, economic reform, and national transformation.
The Prime Minister also shared the government’s vision for evolving the role of Sri Lanka’s security forces to include responsibilities such as climate response, humanitarian assistance, and maritime protection. The meeting further explored opportunities in trade, investment, and tourism, with both parties agreeing to deepen engagement across five key sectors.
The Ambassador of Japan to Sri Lanka, and senior officials from both governments participated in the meeting.
[Prime Minister’s Media Division]
President Anura Kumara Disanayake departed for Vietnam.
The visit is taking place at the invitation of the President of Vietnam from May 4 to 6, 2025.
During the visit, President Disanayake is scheduled to hold bilateral discussions with both the President and the Prime Minister of Vietnam. He will also meet with the General Secretary of the Communist Party of Vietnam and other senior officials.
On May 6, the President will attend the official opening ceremony of the United Nations Vesak Day celebrations in Ho Chi Minh City as the Chief guest and will also deliver the keynote address.
In addition, the visit is expected to include the signing of several bilateral agreements and engagement with the Vietnamese business community to further enhance economic cooperation between the two countries.
Minister of Foreign Affairs, Foreign Employment and Tourism, Vijitha Herath, along with a delegation of senior government officials, is accompanying the President on this important visit.
[PMD]
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