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Economic stabilization process and relief packages to people to continue
A press briefing on the economic stabilization process and the proposed relief packages for the public was held on Thursday (26) at the Presidential Media Center (PMC).
Minister of Labor and Deputy Minister of Economic Development, Dr. Anil Jayantha Fernando, along with Deputy Minister of Finance and Planning, Dr. Harshana Suriyapperuma, attended the briefing.
The media statement released during the press briefing is as follows:
Press Statement on the Economic Stabilization Process and Relief Packages to people.
1. Economic Stabilization
Economic stabilization is key to take the country out of abyss created by past regimes. At the time the government assumed office those who are responsible for the crisis had unilaterally suspended external debt servicing in April 2022, entered into IMF program for Extended fund facility (EFF) of approximately USD 3 billion over a period of 4 years to be received in 8 installments, and paddled through the IMF program and debt restructuring process in line with debt sustainability analysis connected to it. The delayed and complex nature of the debt restructuring process incurred additional costs to the country and created additional burden on the people. However after, considering both pros and cons of the context prevailed at that time in terms of social, political and economic perspective, the government proceeded with the options in the best interest of the people of the country.
Accordingly, it was possible to reach the staff-level agreement of the third review on 26th November 2024, in line with the program parameters, and government revenue measures with appropriate engagement, and timely facilitation. In the lead-up to the board approval from the IMF, the government is engaging with necessary stakeholders to obtain the next tranche of the EFF.
Debt Restructuring
It consists of both domestic and external restructuring. Domestic debt restructuring was completed in July 2023. External restructuring excludes multilateral creditors on various ground and arguments. The rest consists of official bilateral debt and private ISB holders.
Bilateral Debt
The bilateral debt is dealt with the Official Creditor Committee (OCC) co-chaired by France, India and Japan representing 17 countries, China Exim Bank, China Development bank, other official creditors (Kuwait, Saudi Arabia, Iran and Pakistan) and other commercial creditors.
OCC had agreed to the terms and conditions in June 2024 and the loans with China Exim bank had already been restructured in October 2023 within the agreed framework, ensuring comparability of treatment (CoT). Except the other official creditors (Kuwait, Saudi Arabia, Iran and Pakistan) accounting roughly USD 300 million representing about 1% total external debt subject restructuring , all other bilateral creditors have already agreed for restructuring within the agreed framework.
ISB Creditors
Much delayed ISB restructuring had passed several stages of negotiations with agreements, disagreements, changes to proposals, adjustments in line with DSA and IMF consents, had finally agreed in principle (AIP) on 19 September 2024 just two days prior to the presidential election. Ad Hoc Group (AHG) and Local banking consortium represent ISBs which account for USD 14.2 billion including a past due interest of USD 1.7 billion.
By prioritizing and facilitating actions in a timely manner, the new government has demonstrated a strong political commitment to steering the country toward economic stability. These efforts toward financial stability have been independently acknowledged by third parties, including rating agencies which have upgraded the ratings by several notches, which was only possible due to the correct prioritization and implementation of economic stabilization measures. Hence, the government continued with the restructuring process and facilitated it to ensure the successful completion of the issuance of new bonds for the exchange of existing ones on 20th December 2024 in order to achieve the critical objective of stabilizing the economy in pursue of navigating the country with the growth and development trajectory towards a thriving nation and beautiful life.
2. SME Sector Facilitation
2.a.1. Parate Extension
Instead of merely postponing the Parate execution date, the government engaged with stakeholder groups to ensure acceptable solutions was found for this long-standing issue. As a result, the Parate execution has now been extended until 31st March 2025.
2.a.2. Relief Package
The relief for businesses is not only in the form of an extension of time. Based on data provided by the Central Bank, 99% of borrowers with outstanding capital of less than 25 million rupees in restructured loans have been granted a 12-month extension to renegotiate with banks and agree on a settlement path. Borrowers with debts between 25,000,000 and 50,000,000 rupees have been granted a 9-month extension, while all other borrowers are entitled to a 6-month extension. This relief package, proposed by the government and to be implemented through the Central Bank, also includes several other important measures, such as easing the credit rating status, extending the repayment period, offering low interest rates for restructured debt, and providing a transparent mechanism to resolve valuation disputes.
This package aims to ensure that the SME sector can actively contribute to the economy.
2.b. School Stationery Assistance for School Children
2.b.1. Children in the Aswesuma Families
To ease the burden on parents from vulnerable groups in society, Rs. 6,000 per child has been allocated to purchase essential school books and stationery for the upcoming school term. Children from Aswesuma recipient families will begin receiving this benefit shortly.
2.b.2. Children Not Receiving Aswesuma
Children from families who are not currently receiving Aswesuma but are facing economic hardship will also be provided with this benefit, based on recommendations from the Ministry of Education. It is expected that the process will be finalized soon, and the disbursement scheme will start within a few days, ensuring that all deserving children facing economic hardship receive assistance.
[PMD]
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Devine’s all-round masterclass hands New Zealand 2-1 series lead
Sophie Devine made Eden Park her own little playground as she brought up her 22nd T20I half-century and carried New Zealand to a 2-1 series lead over South Africa with two games to go. She had also picked up a couple of wickets earlier in the day and backed up her words when she said South Africa’s 149 for 7 was a little bit under par.
New Zealand have never chased more than 150 at home. The small boundaries in Auckland were a friend in that regard, particularly with Annerie Dercksen and Ayanda Hlubi occasionally straying down leg. South Africa tightened up though and the wickets of Amelia Kerr and Brooke Halliday in the 10th over left the chase in a tense situation. New Zealand needed 82 off 60 with six wickets in hand. Devine was 13 off 10.
A pull shot off Chloe Tryon to start the 11th over signalled the shift in momentum. The square boundaries are bigger than the straight ones at Eden Park and yet Devine kept finding them. She collected 46 runs at a strike rate of 219 on the leg side. At the time the fifth-wicket partnership had hit 50, Maddy Green had made only 12 off 15. It was all Devine from the other end and it was all Devine till the end. Her superpowers now include winning the game without touching the ball. Dercksen missed the cut strip as she tried to hide it away from the batter’s reach.
Those five no-balls bringing an end to proceedings highlighted how wayward South Africa’s attack was compared to New Zealand’s. Jess Kerr’s early swing dominated the powerplay. Devine and Suzie Bates taking pace off kept control through the middle and barring another Kayla Reyneke onslaught, it was one-way traffic.
South Africa had to wait 23 balls for the first boundary off the bat on Friday. Dercksen made it worth the wait with a neat little flick off her legs that travelled all the way for six over deep midwicket. Dercksen arrived with the score on 9 for 2 in the third over and put the pressure back on New Zealand. While she was at the crease, she was responsible for more then half the boundaries (4 out of 7) her team scored. Thanks to that, Laura Wolvaardt could drop anchor and go at her preferred pace, though 37 off 39 wasn’t a good look for the captain, who later admitted they were well short of a competitive total.
A pitch with 10mm of grass offered enough for the seamers and even someone with their eye in was found out when Devine went into the pitch. The little legcutter – a response to being hit for six the previous ball – found Dercksen in two minds, whether to attack or defend, and took down her off stump. South Africa lost 59 for 5 between the eighth and the 18th overs, going 38 balls without a boundary.
Bates continued to find more success with the ball. She took a wicket in her first over and took responsibility in the death as well. New Zealand held their line and length really well, refusing access to the straight boundary and routinely cramping the batters up, guiding them to hit the areas – midwicket and square leg – that they had covered in the field.
Then Mair missed her length and was clubbed down the ground for six. It highlighted how a bowler had to be perfect against a batter of such power. Reyneke is immense when she can free her arms and go down the ground. She grew up playing in boys’ teams. She came into this series with a 75 off 63 for Western Province, who were 93 for 6 and still ended up winning the Pro50 game thanks to their 20-year-old phenom. She captained South Africa in the Under-19 World Cup when they went to the final last year. She’s marked for big things.
Reyneke’s presence forced Jess Kerr to go wide in the final over – too wide. The umpire penalising her made the bowler shift her line and that little bit was enough for Reyneke to smash two sixes and a four, all down the ground, and hoist South Africa to 149 for 7. She wasn’t given a lot to get under but as soon as she was given one, she smashed it out of the park. The margin for error was breathtakingly small.
Brief scores:
New Zealand Women 152 for 4 in 18.4 overs (Isabella Gaze 17, Amelia Kerr 30, Sophie Devine 59*, Maddie Green 34*; Annerie Dercksen 1-17, Ayanda Hilubi 1-31, Nonkululeko Mlaba 1-30 ) beat South Africa Women 149 for 7 in 20 overs (Laura Wolvaardt 37, Annerie Dercksen 27, Kayla Reyneke 34*; Jess Kerr 1-30, Rosemary Mair 1-32, Sophie Devine 2-21, Suzie Bates 2-10) by six wickets
(Cricinfo)
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Senegal and Morocco tied by religion and trade but divided by AFCON fallout
When governing body officials the Africa Cup of Nations title to Morocco, overturning Senegal’s victory two months after the chaotic final, football fans were stunned.
The impact of the decision could spread beyond sport and weaken the bond between the nations.
While Moroccan fans took to the streets to celebrate their team’s belated success, the decision by the Confederation of African Football (CAF) was met with disbelief in Senegal, with fans and authorities calling the decision “unjust”.
Senegal’s government on Wednesday said it will pursue “all appropriate legal avenues” to overturn the decision and called for an international investigation into “suspected corruption” within African football’s governing body.
The Senegal Football Federation (FSF) then announced on Thursday that it had instructed lawyers, aparently carrying through its threat to take the matter to the Court of Arbitration for Sport (CAS). Such a move could lead to a yearlong legal battle before a ruling.
CAF’s appeals board on Tuesday ruled that Senegal forfeited the final by leaving the field of play without the referee’s authorisation, and it awarded Morocco a default 3-0 win.
The game was delayed for 14 minutes as most of the Senegalese players and staff returned to their dressing room, while Senegal fans battled stewards behind one of the goals in protest against a controversial penalty call for Morocco after Senegal had a goal ruled out.
The players returned, Morocco missed the penalty, and Senegal won the match 1-0 in extra time.
Morocco and Senegal have long shared close ties built on religion, trade and culture. Tijaniyyah, a Sufi Muslim order, is widely followed in both countries. Moroccan banks and companies heavily invest in Senegal’s finance and agriculture sectors. Cultural exchanges include student programs, migration and joint festivals.
But the tensions surrounding the final and CAF’s appeals court decision to overturn Senegal’s victory have put a strain on the relationship between the two countries.
Last month, 18 Senegal fans who were arrested on charges of hooliganism at the final were given prison terms of up to a year by a Moroccan court. The Senegalese government has expressed solidarity with the Senegalese supporters.
Seydina Issa Laye Diop, president of the Senegalese national team’s fan group called “12th Gainde”, told The Associated Press on Thursday that the incidents should not damage the relationship between Senegal and Morocco.
“However, there are limits: if this continues, it could somewhat affect the pride of the Senegalese people,” Diop said. “If the goal is to preserve friendship, then it must be nurtured. Small gestures can have a big impact. These are things we can move past, especially since, during the trial, no solid argument has justified the continued detention of these supporters.”
Mariama Ndeye, a student in Senegal’s capital Dakar, said the decision has negatively affected her view of Moroccans.
“When everything goes well, they call us their brothers. But when things don’t go their way, they start being nasty,” Ndeye said.

Politics and sport are rarely separated as Senegal and Morocco find out
On Wednesday, Morocco’s embassy in Dakar called on Moroccans in Senegal to “demonstrate restraint, vigilance, and a sense of responsibility.”
“It is important to recall that, in all circumstances, it is only a match, the outcome of which should never justify any form of escalation or excessive remarks between brotherly peoples,” the embassy said.
While the dispute has remained centred around the football match, bad feelings have spread more generally.
In Casablanca, home appliances business owner Ismail Fnani said he felt like other African countries were rooting against Morocco during the final.
“Honestly, my views toward Senegalese and sub-Saharan Africans changed after this,” he said. “We used to feel sympathy and help them because they were migrants who had struggled to get here. Where there was once sympathy and compassion, now I will treat them as they have treated us.”
Mohamed el-Arabi, who works in a grocery shop in Casablanca, said he did not celebrate the decision awarding Morocco the title.
“We would have preferred it to stay with Senegal because it doesn’t feel right otherwise,” El Arabi said.
“People here have started hating Senegalese. They no longer provide them with help. We used to be like brothers, especially since they are Muslims like us, but that is no longer the case,” he added.
African football thrust into spotlight as CAF face accusations
The Senegalese government’s allegation of suspected corruption” at CAF followed anger at perceived favouritism towards Morocco, which is a 2030 World Cup co-host and has invested heavily to become a football superpower.
On Wednesday, CAF President Patrice Motsepe defended the body against perceptions of favouritism towards Morocco.
“Not a single country in Africa will be treated in a manner that is more preferential, or more advantageous, or more favourable than any other country on the African continent,” Motsepe said in a video published on the CAF website.
[Aljazeera]
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Fifa rules women’s teams must have female coaches
Every team in Fifa’s women’s football tournaments must include at least one female head coach or assistant coach following the introduction of new regulations.
The requirements will come into effect during the under-17s and under-20s Women’s World Cup and Women’s Champions Cup competitions this year.
The decision was made at the Fifa Council on Thursday, and discussed the long-term strategy of female representation in coaching.
Under the new ruling, at least two staff members on the bench of every team at matches must be female, with one in an assistant coach or head coach role.
The rule applies to all youth and senior tournaments, including clubs and national teams.
At the 2023 Women’s World Cup, 12 of the 32 head coaches were female, including England manager Sarina Wiegman.
“There are simply not enough women in coaching today. We must do more to accelerate change by creating clearer pathways, expanding opportunities, and increasing the visibility for women on our sidelines,” said Fifa’s chief football officer Jill Ellis.
“The new Fifa regulations, combined with targeted development programmes, mark an important investment in the current and future generation of female coaches.”
Fifa hopes these new regulations will see a rapid increase in female representation, including at the 2027 Women’s World Cup in Brazil.
Among some of the most high-profile female coaches is London-born Emma Hayes, who is joined by assistant Denise Reddy at the United States.
In 2024, Hayes told BBC Sport that a lack of female coaches in English football is “a massive issue” and urged the game’s administrators to “come up with more creative ways” to address it.
Other female English coaches at international level include Gemma Grainger at Norway, Casey Stoney at Canada and Carla Ward at the Republic of Ireland.
Canadian Rhian Wilkinson led Wales to their first major tournament at Euro 2025 last summer, while Dutchwoman Wiegman has guided England to back-to-back European titles and has been named the Fifa best women’s coach of the year on four occasions.
Wiegman was the only female coach in the quarter-final stage of the 2023 Women’s World Cup.
(BBC)
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