News
Lanka can be on path to recovery by 2024: IMF official
The International Monetary Fund Director Asia and Pacific Department Krishna Srinivasan on Thursday said if Sri Lanka comes through with all the reforms, fast-track the proper implementation and warp-up the debt restructuring by September, the economy will be on a path to recovery from 2024.
“The program itself is a very ambitious one, in terms of fiscal, monetary, governance and social safety net reforms. The next step in the process for Sri Lanka is to engage in good faith with all creditors and be done before the first review. If the Government can fulfill the reforms and implement them successfully, the country will be on a path to recovery going forward,” he said at the media briefing of the IMF Economic Outlook for Asia and Pacific on the sidelines of the Board of Governors 56th ADB Annual Meeting in Incheon, Republic of Korea.
His remarks come ahead of an IMF mission review meeting to be held in Colombo by the end of the month.
“We will be in Sri Lanka in two weeks’ time to see how the implementation is coming along. We will also be looking at the whole issue of debt restructuring,” he added.
Noting that the program has lots of reforms embedded, Srinivasan emphasised that implementation is key. “Although we are projecting a 3% economic contraction for this year, we have earmarked a positive growth of 1.5% for 2024,” he added.
In terms of the IMF Economic Outlook, he said despite the gloomy external outlook, Asia and the Pacific will remain dynamic, contributing 70% to the global economic growth — a significant improvement compared to recent years.
The IMF has also upwardly revised its October 2022 projection by 0.3% to 4.5% in 2023. The growth in the region will be led by China with a 5.2% growth rate this year after reopening the economy post-pandemic. The growth in the Chinese economy is expected to generate from consumption goods, and not from its usual investment goods.He also said countries that are depending on Chinese travellers will benefit from the economic boom in China during this year.
News
Cabinet aporives recruitment of Nursing Instructors for Nursing Schools under the Ministry of Health and Mass Media on Contract Basis
There are 17 nursing schools under the Ministry of Health and Mass Media including the postgraduate primary nursing school.
There are 142 vacancies in the posts of Grade I / Special Grade Nursing Officer (Education) as on 31.03.2026 in those schools while 24 officers are to be promoted to the special grade on 31.12.2025 owing to the vacancies existing in the post of Special
Grade Nursing Officer (Education). Therefore, the number of vacancies is to be 166.
In addition, there are 24 vacancies in the post of Special Grade Nursing Officer (Education).
Although at present action has been taken to upgrade the nursing schools to nursing colleges and upgrade the nursing diploma course to nursing degree course, no action has been taken so far to carry out recruitment for the training relevant to the appointment for the post of Grade I / Special Grade Nursing Officer (Education).
Accordingly, the Cabinet of Ministers granted approval to the resolution furnished by the Minister of Health and Mass Media to recruit retired nursing instructors and nursing instructors who served in the nursing schools belonging to the three armed forces and are retired or have resigned legitimately from service to the post of Grade I / Special Grade Nursing Officer (Education) on contract basis.
Latest News
Signing agreement for the establishment of BIMSTEC Technology Transfer Facility in Sri Lanka
It has been decided to establish a BIMSTEC technology transfer facility in Sri Lanka by entering into a Host Country Agreement at the second leaders’ summit of BIMSTEC (Bay of Bengal
Initiative for Multi-Sectoral Technical and Economic Cooperation) held in New Delhi, India, in 2008, with the objective of enhancing regional cooperation.
The relevant cooperation agreement was signed by the member countries at the 5th BIMSTEC summit on 30-03-2022 in Colombo.
The prime objective of this technology transfer facility is to provide technology, capacity building, and management of intellectual property for the micro, small, and medium-scale
enterprises of the BIMSTEC member countries.
According to the cooperation agreement, an agreement should be entered into between Sri Lanka, as the host country, and BIMSTEC Secretariat for formalizing the legal status, privileges, and immunities of the technology transfer facility.
The drafted agreement has received the relevant institutional approval and legal clearance.
Accordingly, the Cabinet of Ministers has approved the resolution furnished by the Minister of Science and Technology to sign the proposed agreement.
News
The cabinet approves agreement on mutual legal cooperation in criminal matters between the Republic of Sri Lanka and the Republic of Korea
Approval has been granted at the cabinet meeting held on 11-12-2023 to sign an agreement between the Republic of Korea and the Government of Sri Lanka regarding mutual cooperation
in criminal matters.
However, according to the aforementioned approval, the relevant agreement could not be signed between both parties.
Through this agreement, opportunities will be provided
for mutual assistance to other countries in handing over judicial documents and collecting evidence for the use of criminal case matters.
Accordingly, the Cabinet of Ministers has approved the resolution provided by the Minister of Justice and National Integration to sign an agreement between the Republic of Korea and the Government of Sri Lanka to cooperate in criminal matters.
Cabinet aporives recruitment of Nursing Instructors for Nursing Schools under the Ministry of Health and Mass Media on Contract Basis
Signing agreement for the establishment of BIMSTEC Technology Transfer Facility in Sri Lanka
The cabinet approves agreement on mutual legal cooperation in criminal matters between the Republic of Sri Lanka and the Republic of Korea
Misbah-ul-Haq resigns as Pakistan selector after Test squad upheaval
Amendment of the Quarantine and Prevention of Diseases Ordinance No. 3 of 1897
Cabinet approves donation of USD One Million to the Government of Nepal
‘Dates have the highest sugar content to fight Coronavirus’
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