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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.
Latest News
India gifts 134 cabs to Sri Lanka Police
A consignment of 134 single cabs gifted by the Government of India under the Indo–Sri Lanka Friendship Programme for the use of the Sri Lanka Police was officially handed over to President Anura Kumara Dissanayake on Monday (25) morning at the Presidential Secretariat.
The Government of India has incurred an expenditure of approximately LKR.300 million for this initiative and the vehicles are scheduled to be distributed among police stations in the Northern Province.
Speaking at the occasion, Indian High Commissioner Santosh Jha stated that similar assistance would continue to be extended to Sri Lanka in the future.
In appreciation of this gift by the Government of India, Inspector General of Police Priyantha Weerasooriya presented a commemorative memento to Indian High Commissioner Santosh Jha.
Minister of Public Security and Parliamentary Affairs, Ananda Wijepala, Deputy Minister of Public Security and Parliamentary Affairs, Sunil Watagala, Secretary to the Ministry of Public Security Ravi Seneviratne, General Manager of DIMO Rajeev Pandithage, officials of the Indian High Commission and senior officers of the Sri Lanka Police were also present at the occasion.
(PMD)
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Landslide Early Warnings issued to the Districts of Colombo, Gampaha, Kalutara, Kegalle, Nuwara Eliya and Ratnapura extended till 1600 hrs on Tuesday [26]
The National Building Reasearch Organisation [NBRO] has extended the landslide early warnings issued to the districts of Colombo, Gampaha, Kalutara, Kegalle, Nuwara Eliya and Ratnapura till 1600 hrs on Tuesday 26th May 2026.
Accordingly,
The LEVEL II [AMBER] landslide early warnings issued to the Divisional Secretaries Divisions and surrounding areas of Dehiowita, Deraniyagala, Ruwanwella and Yatiyanthota in the Kegalle district and Kuruwita, Ratnapura, Ayagama and Eheliyagoda in the Ratnapura district and
The LEVEL I [YELLOW] landslide early warnings issued to the Divisional Secretaries Divisions and surrounding areas of Seethawaka and Padukka in the Colombo district, Attanagalla in the Gampaha district, Palindanuwara, Mathugama, Bulathsinhala, Agalawatta, Ingiriya and Horana in the Kalutara district, Bulathkohupitiya in the Kegalle district, Ambagamuwa in the Nuwara Eliya district and Kiriella, Pelmadulla, Nivithigala, Elapatha and Kalawana in the Ratnapura district have been extended.
News
No PC polls this year, says Tilvin
The much-delayed Provincial Council (PC) elections cannot be held this year due to financial and legal constraints, JVP General Secretary Tilvin Silva has said in Jaffna.Silva said so, fielding questions from journalists after the opening of the NPP coordination office in the Jaffna District on Saturday.
When asked whether the government was under Indian pressure to conduct the Provincial Council elections soon, Silva answered in the negative, claiming that Sri Lankan and Indian governments maintained close and friendly relations with a strong level of understanding.
He said budgetary allocations had been made for the PC elections, but the government had been compelled to divert resources for disaster relief following the impact of Cyclone Ditwah. According to Silva, nearly Rs. 500 billion had to be allocated for relief measures, making it difficult to hold the elections this year. He further said legal complications in the electoral reform process had also contributed to the delay in holding the PC elections, noting that a parliamentary committee had been appointed to determine the electoral systems under which the PC polls should be conducted. Once the committee submitted its report and if no further issues arose, the elections could possibly be held next year, he said.
Silva also said the government had taken measures to strengthen reconciliation and development in the North by releasing lands previously occupied by military camps and improving road infrastructure.He added that empowerment initiatives were being implemented under the Praja Shakthi programme and that both Sri Lanka and India were continuing to work in close cooperation.
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