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‘China’s stand may deprive Sri Lanka of USD 2.9 bn from IMF in early 2023’
Text and picture by
PRIYAN DE SILVA
Executive Director of the Centre of Policy Alternatives (CPA) Dr. Paikiasothy Saravanamuttu told journalists and Civil Society Activists at a workshop held in Kandy that China’s unwillingness to accept the proposed debt restructuring might deprive Sri Lanka of the US$ 2.9 billion credit facility, from the IMF.
The staff-level agreement is to be implemented only after the countries that Sri Lanka are indebted to, namely Japan, China, India and the European Union, agree on how the debt is to be restructured.
Dr Saravanamuttu said the IMF expected every creditor to be treated equally which China has refused to accept. China was not happy that Sri Lanka had approached the IMF and have even offered to provide more loans to Sri Lanka, he said.
The CPA Executive Director said that if the Chinese agreed to restructure debt, then the IMF would release US$ 2.9billion by January or February 2023 but if the Chinese did not agree, Sri Lanka would have to wait until the IMF board meets again in March 2023. He said that Sri Lanka would need 850 million US$ to pay for essentials during this period.
Dr. Saravanamuttu said that citizens of this country should not blame the politicians alone for the mess that the country was in, as it is the people who put them there, gave them the power and allowed them to abuse it. He reiterated that the people had a great responsibility to see that the situation changes for the better.
Speaking about the Aragalaya, Dr. Saravanamuttu said that various groups had got together to demand that the Rajapaksas go home and return the money that they stole from the country. He pointed out that even though they had got rid of the Rajapaksas they did not have any idea how to recover the country’s plundered wealth or what type of governance that the country ought to have.
He said that even though mass protests had taken place all over the world, the political elite or the military had returned to power.
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Landslide early warnings issued to the Districts of Badulla, Kandy, Kurunegala, Matale and Nuwara Eliya extended
The landslide early warning center of the National Building Research Organisation [NBRO] has extended the landslide early warnings issued to the Districts of Badulla, Kandy, Kurunegala, Matale and Nuwara Eliya until 08:00 AM on Saturday [20th].
LEVEL III RED landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Minipe, Ududumbara, Doluwa and Medadumbara in the Kandy district, and Mathurata, Walapane, Hanguranketha and Nildandahinna in the Nuwara Eliya district.
LEVEL II AMBER landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Badulla, Lunugala, Passara and Hali_Ela in the Badulla district, Akurana, Pathadumbara, Udunuwara, Gangawata Korale, Pasbage Korale, Harispattuwa, Thumpane, Panvila, Ganga Ihala Korale, Udapalatha, Yatinuwara, Poojapitiya, Kundasale, Deltota, Pathahewaheta and Hatharaliyadda in the Kandy district, Rideegama in the Kurunegala district, Laggala Pallegama, Wilgamuwa, Yatawatta, Ambanganga Korale, Naula, Rattota, Pallepola, Ukuwela and Matale in the Matale district, and Nuwara Eliya in the Nuwara Eliya district.
LEVEL I YELLOW landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Bandarawela, Uva Paranagama, Haldummulla, Kandeketiya, Soranathota, Ella, Welimada, Haputhale and Meegahakivula in the Badulla district, Alawwa, Polgahawela, Mallawapitiya and Mawathagama in the Kurunegala district, and Thalawakele, Norwood, Ambagamuwa Korale, Kothmale West and Kothmale East in the Nuwara Eliya district.
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Financial contribution from Gift Sri Lanka Foundation and the Georgia Buddhist Vihara, USA, for disaster relief
In support of relief efforts for communities affected by the Ditwah cyclone, Gift Sri Lanka Foundation and the Georgia Buddhist Vihara (GBV), USA, have made a financial contribution of USD 16,000 to the Government’s ‘Rebuilding Sri Lanka’ Fund.
The relevant cheque was formally handed over on Thursday (18) afternoon at the Presidential Secretariat by the Chief Incumbent of the Georgia Buddhist Vihara, Most Venerable Panamwela Vajirabuddha Nayaka Thero, to the Secretary to the President, Dr. Nandika Sanath Kumanayake.
News
European Union provides over Euro 2.35 million Humanitarian Assistance to Sri Lanka
The European Union has allocated a total of Euro 2.35 million of financial assistance to Sri Lanka. This includes Euro 500,000 through IFRC and Euro 1.85 million through DG-European Civil Protection and Humanitarian Aid Operations (ECHO) partners, WFP and UNICEF as humanitarian assistance to Sri Lanka, in response to the impact of Tropical Cyclone Ditwah,
In addition to the above allocation, the Union Civil Protection Mechanism (UCPM), which brings together 37 participating States, all 27 EU member States, as well as Albania, Bosnia and Herzegovina, Iceland, Moldova, Montenegro, North Macedonia, Norway, Serbia, Türkiye and Ukraine, is providing in-kind assistance to Sri Lanka.
As a part of the UCPM in kind assistance being provided, on Wednesday, 17th December, Sri Lanka received an aid shipment, with two air cargo flights arriving in Colombo from Germany, France and Luxembourg. This aid shipment included 83 tonnes of relief items such as family tents, mattresses, hygiene and kitchen kits, beds and water filters. The supplies are intended for distribution among communities most affected by the cyclone.
The arrival of the assistance was welcomed by the EU Ambassador to Sri Lanka, Carmen Moreno, French Ambassador, Rémi Lambert, and the Deputy Head of Mission at the German Embassy, Sarah Hasselbarth. On behalf of the Government of Sri Lanka, the donations were received by Sugeeshwara Gunaratna, Director General / Europe & North America, Ministry of Foreign Affairs, Foreign Employment & Tourism and Chathura Liyanarachchi, Director, Disaster Management Center (DMC).
Italy has also provided a team of structural engineers to support Sri Lanka’s disaster assessment and recovery process.
Furthermore, the EU has activated its Copernicus Emergency Management Service (EMS) in rapid mapping mode, with around 30 maps produced so far.
The European Union has committed continued cooperation and support to Sri Lanka’s disaster recovery and rebuilding process, reaffirming the enduring friendship and strong partnership between Sri Lanka and the European Union.
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