Thursday, Mar 28 2024 | Time 22:40 Hrs(IST)
image
India


India welcomes IMF bailout for Sri Lanka

India welcomes IMF bailout for Sri Lanka

New Delhi, Mar 24 (UNI) India on Friday welcomed the announcement of the IMF bailout for Sri Lanka and hoped it would support the island nation on its path to economic recovery and growth.
India also said that it expects all concerned to engage in the forthcoming process of restructuring of Sri Lankan debt “in the spirit of transparency” which would ensure “that no side arrangements are made with any creditor”.
MEA spokesperson Arindam Bagchi in a media briefing, said:
“Let me first of all welcome the extended EFF (Extended Fund Facility) facility agreement that they (IMF) did with Sri Lanka... So we welcome this announcement. I think it's made both by the IMF itself and by the Sri Lankan Government. We hope that this step will further support Sri Lanka as it strives for the early economic recovery path to economic growth.
“As you are aware, India was the first bilateral creditor of Sri Lanka to support debt restructuring and also convey a specific and credible financing assurances to the IMF. I think we did it on 16th January or middle of January so that it cleared the way for Sri Lanka to secure this IMF program.
“On a larger note, we would expect all concerned to engage in the forthcoming process of restructuring of Sri Lankan debt in the spirit of transparency and comparability of treatment for all external creditors. That will ensure that no side arrangements are made with any creditor,” he said.
Sri Lanka received $330 million as the first tranche of the IMF bailout programme, which will pave the way for the debt-ridden country to achieve better "fiscal discipline" and "improved governance," according to President Ranil Wickremesinghe.
The International Monetary Fund (IMF) on Tuesday approved a $3 billion bailout programme to help Sri Lanka overcome its economic crisis and catalyse financial support from other development partners, a move welcomed by Colombo as a "historic milestone”.
UNI RN

More News
Comments on our electoral, legal processes completely unacceptable: MEA

Comments on our electoral, legal processes completely unacceptable: MEA

28 Mar 2024 | 7:34 PM

New Delhi, Mar 28 (UNI) The Ministry of External Affairs said on Thursday that recent remarks by the US State Department on Delhi Chief Minister Arvind Kejriwal's arrest are "unwarranted," and any such external imputation on India's electoral and legal processes is "completely unacceptable".

see more..
DC extends Kejriwal's ED custody till April 1

DC extends Kejriwal's ED custody till April 1

28 Mar 2024 | 7:26 PM

New Delhi, Mar 28 (UNI) A Delhi Court on Thursday extended the Enforcement Directorate (ED) custody of Delhi Chief Minister Arvind Kejriwal, an accused in the alleged liquor policy scam, for four days till April 1.

see more..
Lawyers apprise CJI of pressure groups influencing judiciary and vitiating legal process

Lawyers apprise CJI of pressure groups influencing judiciary and vitiating legal process

28 Mar 2024 | 7:15 PM

New Delhi, Mar 28 (UNI) About 600 prominent lawyers on Thursday wrote to the chief Justice of India D Y Chandrachud that there are attempts from various pressure groups to undermine the judiciary’s integrity.

see more..
No legal bar in Kejriwal continuing as CM:  Delhi HC

No legal bar in Kejriwal continuing as CM: Delhi HC

28 Mar 2024 | 6:41 PM

New Delhi, Mar 28 (UNI) The Delhi High Court on Thursday rejected a public interest litigation (PIL) petition seeking Arvind Kejriwal's removal as Delhi Chief Minister following his arrest by the Enforcement Directorate (ED) in connection with the alleged Delhi excise policy scam and said there is no legal bar in his continuation as CM.

see more..
UNICEF India, IIHMR Delhi & IIT Mumbai launch digital health course to bridge tech-knowledge gaps

UNICEF India, IIHMR Delhi & IIT Mumbai launch digital health course to bridge tech-knowledge gaps

28 Mar 2024 | 6:25 PM

New Delhi, Mar 28 (UNI) UNICEF India, the International Institute of Health Management Research (IIHMR) Delhi, and the Indian Institute of Technology Bombay (IIT Bombay) jointly launched a comprehensive health course.

see more..
image