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India greatly sensitive to needs of Lanka – PM Modi
India has been greatly sensitive to the needs of its valued neighbour, Sri Lanka, during their tough times, Indian Prime Minister Narendra Modi said.
In an exclusive interview with PTI late last week, the PM said the Global Sovereign Debt Roundtable, a joint initiative of the IMF, World Bank and the G20 Presidency was launched earlier this year to accelerate global debt restructuring efforts.
“This will strengthen communication among key stakeholders and facilitate effective debt treatment,” he added.
The debt crisis is a matter of great concern for the world, especially developing countries, Prime Minister Modi has said, as India looks at building consensus at the upcoming G20 summit to evolve a tangible framework to help the debt-ridden low-income economies.
According to PTI, Modi said India’s G20 presidency has placed a significant emphasis on addressing the global challenges posed by debt vulnerabilities, especially for nations in the Global South.
“The debt crisis is indeed a matter of great concern for the world, especially developing countries. Citizens from different countries are keenly following the decisions being taken by governments in this regard. There are some appreciable results, too,” Modi said.
“First, countries that are going through debt crisis or have gone through it, have begun to give greater importance to financial discipline,” Modi said.
“Second, others who have seen some countries facing tough times due to the debt crisis are conscious of avoiding the same missteps,” Modi said.
Under its G20 presidency, India has been consistently highlighting the need for a framework on debt restructuring to help countries facing mounting debt problems.
China, considered to be the world’s largest sovereign creditor, has been showing reluctance to certain proposals on debt restructuring although an increasing number of G20 member countries are pitching for helping the low-income nations deal with the crisis.
According to estimates, over 70 low-income countries are reeling under a collective debt burden of USD 326 billion.
“The G20 fnc= ministers and Central Bank Governors have acknowledged the good progress in debt treatment of common framework countries and beyond the common framework too,” Modi said.
Modi hoped that raising awareness among the people of different countries on the problem would ensure that such situations don’t recur often.
“While a lot is being done to address these issues, as I said earlier, I am positive that rising awareness among the people of different countries will ensure that such situations don’t recur often,” he said.
In July, IMF Chief Kristalina Georgieva pitched for a speedier debt restructuring process for vulnerable countries.
India is hosting the G20 summit on September 9 and 10 in its capacity as the current chair of the grouping.
The G20 member countries represent around 85 percent of the global GDP, over 75 percent of the global trade, and about two-thirds of the world population.
The grouping comprises Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, the Republic of Korea,
Representatives from the ’The Ceylon Chamber of Commerce’ met with Prime Minister Dr. Harini Amarasuriya on Wednesday [24th of June] at the Parliament premises.
During the meeting, discussions focused on the Sri Lanka Economic and Investment Summit 2026 (SLEIS 2026), which is scheduled to be held on 12 and 13 October 2026. Attention was also given to digitalization initiatives, the introduction of digital technologies in schools under new education reforms, and the transformative role of Artificial Intelligence (AI) in Sri Lanka’s education sector.
Representatives of the Chamber noted that the summit would serve as an important platform for encouraging both local and foreign investment, while also contributing to the shaping of the country’s future economic policies.
The meeting was attended by Krishan Balendra, Chairman of The Ceylon Chamber of Commerce; Vinod Hirdaramani, Deputy Vice Chairman; Shiran Fernando, Secretary General and Chief Executive Officer; Aliki Perera, Deputy Secretary General and Chief Operating Officer; and Anagi Rodrigo-Weerasekera, Chief Economist and Head of Economic Intelligence, along with several other representatives.
[Prime Minister’s Media Division]
A discussion to review the progress of the housing project under which 4,700 houses are being constructed for the Malayagam community with Indian assistance was held this afternoon (24) at the Presidential Secretariat under the chairmanship of the Chief of Staff to the President, Prabath Chandrakeerthi.
Under this housing programme, 2,026 houses are to be provided to families identified by the National Building Research Institute (NBRI) as being at disaster risk. The remaining houses are expected to be allocated to eligible workers residing in the plantation sector.
Accordingly, the houses will be provided to Malayagam community families living on estates belonging to 22 Regional Plantation Companies, as well as estates under the State Plantations Corporation, Janawasama and Elkaduwa Plantations.
For the construction of each house, the Government of India has allocated Rs. 2.8 million, while the Government of Sri Lanka has contributed Rs. 400,000.
During the discussion, Chandrakeerthi instructed officials to ensure that the housing project is completed before the end of this year. He further directed that land identified for the construction of houses be released without delay and that the National Building Research Institute provide the necessary reports to identify suitable land for the project.
The housing project is being implemented jointly by the Ministry of Plantation and Community Infrastructure, the National Housing Development Authority, the State Engineering Corporation and the Plantation Human Development Trust.
Among those present were Additional Secretary (Development) of the Ministry of Plantation and Community Infrastructure, K. S. Wijayakeerthi; Director General (Engineering), N. D. N. Pushpakumara; Director General (Planning), W. A. K. S. Damayanthi; the Secretary General of the Planters’ Association; and officials from the National Housing Development Authority, the State Engineering Corporation, relevant institutions and plantation companies.
(PMD)
It has been reported that Attorney at Law Rakitha Rajapakshe, the son of former Minister of Justice Wijeyadasa Rajapakshe, has been arrested by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) over alleged links with the underworld.
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