News
AMS takes govt to task for allowing virtual blind entry of tourists into the country
The Association of Medical Specialists (AMS) yesterday criticised the decision taken by the government to allow foreigners to enter Sri Lanka without being subjected to PCR testing at the airport.
AMS President, Dr. Lakkumar Fernando, writing to the Director General of Health Services, Dr. Asela Gunawardena, said that the government had recently established a rapid PCR laboratory at the BIA with a view to attracting more tourists to Sri Lanka. “The whole idea of spending so much money for this facility is to encourage tourist arrivals with the least amount of hassle whilst keeping the country safe and free from possible new deadly variants. For everyone’s surprise and for “reasons best known to originator of the new decision, the government has now issued new guidelines enabling tourist arrival without the on arrival PCR test, purely relying on Vaccine card for 2 dose vaccination and PCR report obtained Within 72 hours prior to the arrival.
“We, as a professional association, strongly feel that this is a dangerous decision as there is no foolproof method of ascertaining the reliability and the authenticity of such reports done outside Sri Lanka which can easily lead to spread of dangerous variants of Covid-19 from BIA. There were many reports of fake vaccination certificates, false PCR reports not only in Sri Lanka but also in the developed countries. In such a scenario there is no scientific rationale for skipping the mandatory PCR testing at BIA, especially a recently purpose built facility available at the airport for PCR testing.
“Further, this will allow dangerous variants to reach our country, totally destroying the hard earned control we have achieved so far with major sacrifices from all the sections of our society.
“Therefore, we humbly appeal to you to revisit this dangerous situation with the participation of relevant experts and take appropriate decisions whilst keeping the safety of our nation as the utmost priority.”
Business
Sri Lanka reaches in principle agreement for restructuring sovereign debt with external commercial creditors
On the 19th of September 2024, Sri Lanka announced that it has reached Agreements in Principle on the restructuring of approximately USD$ 17.5 billion of external commercial debt (as of end 2023).
These agreements have been reached with holders of its International Sovereign Bonds, following negotiations with the Ad Hoc Group of Bondholders (“AHGB”), a representative group of international investors, and the Local Consortium of Sri Lanka (“LCSL”), a representative group of domestic financial institutions. Collectively, the two groups hold in excess of 50% of the Bonds.
Under the agreements, holders of the Bonds will be consenting to a present value concession of 40.3% in the baseline scenario, calculated with a discount factor of 11%. The agreements provide Sri Lanka with enhanced debt relief compared to the Joint Working Framework agreed in July 2024, including a further reduction in interest payments provided in the new agreement.
Sri Lanka also announced that it has finalized agreement in principle with China Development Bank (“CDB”) on the key financial terms of the restructuring of approximately US$ 3.3bn of sovereign debt.
As a result of the agreements already achieved with Eximbank of China and members of Sri Lanka’s Official Creditor Committee (“OCC”) as well as CDB and bondholders, Sri Lanka will have obtained over USD 17bn of debt service relief during the IMF program period (around USD 2.4bn from Eximbank of China, USD 2.9bn from the OCC, USD 2.5bn from CDB and USD 9.5bn from the bondholders).
His Excellency the President expressed his deep appreciation for all of Sri Lanka’s creditors who engaged in good faith throughout this process, and also for the International Monetary Fund and the OCC Secretariat for the continuous and constructive support.
The official announcement is available at: https://links.sgx.com/FileOpen/Sri%20Lanka%20%20Announcement%20of%20Agreement%20in%20Principle%20-%2019_09_2024.ashx?App=Announcement&FileID=819175
The National Security Council convened this morning (19) at the Presidential Secretariat, chaired by President Ranil Wickremesinghe, to discuss security arrangements for the upcoming 2024 presidential election.
The council focused on ensuring the election is conducted independently and fairly, with full support pledged to the Election Commission to maintain law and order.
Key discussions included safeguarding candidates, securing polling centres, and upholding security at polling stations.
Additionally, President Wickremesinghe directed security agency heads to take all necessary steps to maintain peace and stability in the country during the post-election period, ensuring minimal disruption to the daily lives of citizens.
A fully equipped modern library funded by the Chinese Embassy in Sri Lanka was officially handed over to D.B. Welagedara Central College Kurunegala by the President’s Secretary, Mr. Saman Ekanayake.yesterday (18),
Sri Lanka reaches in principle agreement for restructuring sovereign debt with external commercial creditors
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