Sri Lanka Begins Payments on Restructured Debt with China Development Bank

A document from the International Monetary Fund has disclosed that Sri Lanka completed its debt treatment with the China Development Bank (CDB).

The IMF said that the debt treatment is in alignment with program parameters and met the standards for comparability of treatment (COT), as assessed by the Official Creditor Committee.

The document released inline with a virtual press conference by Peter Breuer, Senior Mission Chief for Sri Lanka on Tuesday (4) disclosed that the authorities started with technical exchanges with the CDB, including in person in Colombo in May 2023 and in Beijing in October 2023, to reconcile their DSA modeling and advance technical discussions.

The authorities reached agreement on an agreement in principle with China Development Bank in November 2024, assessed by IMF staff as consistent with debt sustainability.

The Official Creditor Committee assessed this agreement in principle as consistent with comparability of treatment.

The document from the IMF showed that the authorities completed their debt treatment with CDB and started paying on restructured debt in December 2024. It added that Sri Lanka has reached a significant milestone in its efforts to restore debt sustainability with the successful completion of a bond exchange.

It added that the authorities finalized the Eurobond exchange in December, achieving an impressive 98 percent participation rate. This success followed the activation of collective action mechanisms, in accordance with the Agreements in Principle (AIPs) established with the external bondholder committee and the local bondholder consortium on September 18.

These agreements were evaluated by staff and deemed consistent with debt sustainability. Additionally, the Official Creditor Committee (OCC) confirmed that the agreements met the standards for comparability of treatment (COT).

Sri Lanka rejects external UN evidence gathering mechanisms

Sri Lanka on Monday reiterated its rejection of evidence gathering mechanisms within the Office of the High Commissioner for Human Rights (OHCHR) saying it contradicts its founding principles of impartiality, objectivity and non-selectivity.

The Permanent Representative of Sri Lanka to the United Nations Office in Geneva, Himalee Arunatilaka, noted that Sri Lanka has consistently spoken out against country specific resolutions that do not have the concurrence of the country concerned.

“We have reiterated our rejection of Resolutions 46/1, 51/1, and 57/1 and the external evidence gathering mechanism on Sri Lanka that has been set up using these divisive and intrusive resolutions,” she said.

She said that no sovereign state can accept the superimposition of an external mechanism that runs contrary to its Constitution and which pre-judges the commitment of its domestic legal processes.

Furthermore, she said that serious concerns have been raised by a number of countries on the budgetary implications of the external mechanism, particularly at a time the UN is undergoing severe budgetary constraints.

Arunatilaka said that the Government has prioritized economic growth which will take place in a manner that is inclusive, where all citizens have enhanced economic opportunities allowing the resultant benefits to be reaped fairly by all strata of society.

“The rule of law, transparency, accountability and reconciliation will prevail in order to ensure sustained economic growth and social well-being of the people,” the Ambassador said.

The Ambassador briefed the Council on the work of the Office on Missing Persons (OMP), the Office for Reparations, and the Office for National Unity and Reconciliation (ONUR).

“We remain steadfast in our belief that national ownership with gradual reforms, is the only practical way forward to transformative change. We regret the continuing inconsistent application of human rights principles through the work of the Council. This has resulted in the erosion of trust in the human rights architecture making countries less likely to respect the noble purposes for which the Human Rights Council was created,” the Ambassador said.

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EC begins preparations for LG polls

The Election Commission has commenced preliminary preparations following the announcement of nominations for the upcoming Local Government Elections.

As part of the process, the Election Commission has summoned District Returning Officers and Assistant Returning Officers to Colombo for discussions scheduled to be held on Saturday (08).

A final decision regarding the election is expected to be taken at the Election Commission meeting tomorrow (06).

This marks the first meeting of the Election Commission since the announcement to call for nominations.

The discussion will focus on election planning and addressing any related challenges.

Additionally, the Election Commission has announced that the acceptance of postal vote applications will close at midnight on March 12, with no extensions granted.

Meanwhile, the acceptance of nominations for the Local Government Elections is set to begin on March 17.

LG polls in first week of May?

The Local Government (LG) elections are likely to be held in the first week of May, Daily Mirror learns.

Speaking to Daily Mirror, the Election Commission Chairman R.M.A.L. Ratnayake said a special meeting would be convened to discuss the date and reach a final decision within this week.

“The decision would be taken after considering all proposals put forward by respective political parties,” he stated.

“We take all suggestions into account. However, as an independent body, the relevant date will be announced in line with the Local Government Election Act,” the Election Chief stressed.

Opposition parties have requested a delay in calling for nominations until the budget debate concludes, while the government has pushed for an earlier announcement.

The National People’s Power (NPP) has been particularly vocal about expediting the process.

The LG election, originally scheduled for 2023, was postponed after nominations had already begun. Several political parties challenged this delay in court, arguing that using the same nomination lists for a 2025 election would be unfair.

The court later ruled that a fresh nomination process would require two-thirds majority approval in Parliament.

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Ranil Wickremesinghe predicts India as global superpower by 2050

Former Sri Lankan President Ranil Wickremesinghe asserted that India has reached its “takeoff point” toward becoming an economic superpower. Speaking at the NXT 2025 Conclave in New Delhi, he predicted that by 2050, India would emerge as one of the three global superpowers, alongside the United States and China.

Reflecting on his six-decade association with India, Wickremesinghe emphasized the country’s economic trajectory, calling it the driving force that could propel South Asia into a new era of prosperity. “I have been coming to India since 1963. It’s now that you have to see it. India has reached the take-off point to become an economic superpower,” he stated.

According to Wickremesinghe, India’s GDP, currently at approximately $3.5 trillion, is expected to soar to $30 trillion by 2050. He highlighted that this extraordinary expansion would reshape the region’s economy, fostering supply chains, manufacturing clusters, and economic corridors benefiting nations such as Bangladesh, Nepal, and Sri Lanka.

Call to Redefine South Asia’s Identity

Wickremesinghe urged South Asia to reassess its identity, starting with rejecting externally imposed terminologies. “The terminology is not ours. It comes from the West. You do not come across this term in any of the South Asian languages, nor in any Indian language. It was in 1949 that the U.S. Security and Defense Establishment, through one of its subcommittees, decided to call our area South Asia. We simply adopted it,” he remarked.

Comparing the region’s integration progress with ASEAN, he pointed out that South Asia has lagged behind. “Unlike ASEAN, which built its own successful integration and became part of the Asia-Pacific, South Asia has made very slow progress. Our heads of government haven’t met since 2014. Yet, we are bound by strong commonalities—languages, culture, and civilizational ties,” he added.

Wickremesinghe envisioned an expanded “Greater South Asia” extending beyond SAARC’s current boundaries, incorporating the Indo-Gangetic Plain, the Indian Peninsula, the Himalayas, Afghanistan, and the Indian Ocean islands. He also stressed the need for stronger economic ties linking the region with Southeast Asia, the Arabian Sea, and the Mediterranean.

India’s Economic Surge and Regional Trade Dynamics

Wickremesinghe predicted that South India alone would develop into a $6 trillion economy by 2050, naturally fostering economic corridors connecting Sri Lanka, Bangladesh, Nepal, and Southeast Asia into an India-centric supply chain. He also pointed out that while China’s trade with ASEAN is expected to triple, India’s trade could grow nine-fold, potentially bringing ASEAN closer to India than China over time.

However, he warned against protectionist trade policies in the region, stating that “the vestiges of Nehruvian socialism” still persist in South Asia’s economic strategies.

Source: Pratidin Time

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‘You didn’t drop Adani, Adani dropped you’: Mano Ganesan slams govt

Tamil Progressive Alliance (TPA) leader and opposition MP Mano Ganesan on Saturday slammed the Sri Lankan government over the exit of Adani Green Energy from the island nation, saying that it has sent the wrong signal to the world.

Speaking in Parliament during a debate, Ganesan accused the government of mishandling the project and asserted that it was not the administration that dropped Adani, but rather the Indian conglomerate that abandoned the government.

“You didn’t drop Adani. The truth is Adani dropped you,” he said, criticising the government and President Anura Kumara Dissanayake over its handling of the project.

Furthermore, the opposition MP also argued that the Adani project was not just about supplying energy to Sri Lanka’s domestic grid but also aimed at exporting power to India, a move that could have generated revenue for the island nation.

“Our concerns over pricing, if any, could have been negotiated. Instead, this government failed to recognise the long-term economic benefits of energy exports to India,” Ganesan said.

The MP also questioned President Anura Dissanayake’s recent visit to the United Arab Emirates, questioning its outcome.

“President went to the UAE and returned. What happened there? Is any investment coming in? International investors, especially from the Middle East and Europe, would only consider Sri Lanka if Indian partnerships were in place,” he said.

Ganesan also described Adani’s withdrawal as a “major blunder” that could deter future investments in Sri Lanka, particularly in the renewable energy and infrastructure sectors.

Taking to social media, Ganesan reiterated his concerns and said, “The prospective energy export through grid connectivity with India would have brought revenue to Sri Lanka. You failed to understand this with an eye on the future. The exit of Adani has sent wrong signals to potential foreign investors looking at Sri Lanka”.

Last month, Adani Green Energy announced its withdrawal from two proposed wind power projects in Sri Lanka, following the new government’s decision to renegotiate tariffs. The decision was conveyed in a letter sent by the company to Sri Lanka’s Board of Investment.

Adani’s renewable energy arm had planned a USD 442 million investment in Sri Lanka’s wind power sector, covering both generation and transmission. However, the newly-elected government under President Anura Kumara Dissanayake aimed to cut electricity costs tied to Indian conglomerate’s energy projects in the country.

Source: India Today

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Nominations period for 2025 LG Elections announced

Nominations for the upcoming Local Government Elections will be accepted from March 17, 2025 to March 20, 2025, the Elections Commission announced.

The deadline for submissions is 12 noon on the final day.

The relevant gazette notification has already been sent for printing, according to Additional Election Commissioner M.M.S.K. Bandara Mapa.

However, the Commission did not announce the date for the elections, which originally were to be held in January 2023.

The polls were delayed after then President Ranil Wickremesinghe declared there were no funds to hold the elections after the country faced an unprecedented economic crisis in 2022.

The new government led by President Anura Kumara Dissanayake passed the Local Authorities Elections (Special Provisions) Bill on February 17 with an overwhelming majority to hold the delayed polls and allow the Election Commission to withdraw the previous election.

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Ex-Army Intelligence personnel arrested over Keith Noyahr abduction granted bail

The two former Sri Lanka Army Intelligence personnel, who were arrested on suspicion of being involved in the abduction and assault of journalist Keith Noyahr in May 2008, have been granted bail by the Mount Lavinia Magistrate’s Court, Ada Derana reporter said.

Accordingly, the two suspects were ordered to be released on two surety bails of Rs. 1 million each.

The two suspects had been arrested yesterday (01) in the Nawagaththegama and Elayapaththuwa police divisions by officers of the Criminal Investigation Department (CID) based on investigations into the assault on journalist Keith Noyahr in May 2008.

On May 22, 2008, journalist Keith Noyahr, was assaulted after being abducted in a van in the Waidya Road area of the Dehiwala Police Division.

The arrested suspects are two retired Army Intelligence personnel from the Military Intelligence Corps (MIC), aged 42 and 46, and residents of the Nawagaththegama and Ulukkulama areas.

The CID is conducting further investigations into the incident.

TN Governor meets protesting fishermen, promises to escalate SL Navy issue

Tamil Nadu Governor RN Ravi has engaged with Indian fishermen protesting the Sri Lankan Navy’s arrest of 32 of their colleagues and seizure of five boats on February 23.

During the Sunday meeting, Governor Ravi assured the demonstrators he would raise their concerns with both state and central authorities.

Following the discussion, however, Ravi criticized the DMK-led Tamil Nadu government, suggesting they should adopt a “constructive approach” rather than “politicizing” the situation.

The arrests occurred near the North Mannar region, with Sri Lankan authorities claiming the fishermen had crossed the international maritime boundary.

This incident has sparked widespread protests across Tamil Nadu’s coastal communities.

“I totally understand your problem. The solution can be derived only by the state and the central government together, and I’ll try for that,” Ravi told the fishermen while listening to their grievances.

In a subsequent social media post, the Governor described the fishermen as “victims of an iniquitous agreement of 1974,” which he characterized as insensitive to the livelihood concerns of Tamil Nadu’s fishing communities.

He stated that previous governments in Delhi and Chennai had “committed a grave sin” by depriving fishermen of traditional fishing rights around Katchatheevu island.

“Instead of politicising this issue and faulting the Central Government, a constructive approach by the State Government will go a long way in wiping the tears of our affected people,” Ravi added, noting that the party currently ruling Tamil Nadu was an ally of the central government responsible for the 1974 agreement.

The protests, now in their third day, were triggered by the continued detention of over a hundred fishermen and confiscation of numerous boats by Sri Lankan authorities.

On Saturday alone, 5,000 fishermen in 450 boats were reportedly intercepted, with 32 arrested and taken to Talaimannar Naval Camp.

The ongoing strike has left approximately 700 boats anchored at Rameswaram fishing port, causing daily economic losses estimated at Rs 1 crore.

Fishermen leaders have threatened to expand their protests to other coastal districts if authorities fail to secure the prompt release of their detained colleagues.

Source: The Hans India

Chinese scientist honored in Sri Lanka for dedication to drinking water safety

At the end of 2024, Chinese scientist Wei Yuansong received an extraordinary honor: a set of commemorative stamps issued by Sri Lanka featuring his portrait.

This rare tribute recognized his decade-long commitment to providing communities with safe drinking water and fostering scientific collaboration between China and Sri Lanka.

The connection of Wei, a leading expert in water pollution control, with Sri Lanka began in 2013 when S.K. Weragoda, a Sri Lankan researcher trained in China’s water and sanitation program, sought his assistance in addressing a pressing public health crisis: Chronic Kidney Disease of Unknown Etiology (CKDu).

Since 1990, CKDu had affected over 40,000 people in Sri Lanka, with early studies by the World Health Organization linking the disease to groundwater used for drinking.

In August 2014, Wei embarked on his first research trip to Sri Lanka, marking the start of a challenging, yet transformative, journey. Alongside Weragoda, he traveled for hours each day along rugged roads to reach the most severely affected regions. They visited households, engaged with villagers, and worked tirelessly to understand the epidemic’s root causes.

However, their efforts were initially met with skepticism. At that time, experts from multiple developed countries had already carried out studies and assistance in the Asian country.

“Many locals believed that Chinese researchers, like others before them, were only interested in publishing papers, not in solving the problem,” Wei recalled. Despite these obstacles, the team persisted with sustained communication and concrete steps of cooperation, gradually earning the trust of communities.

Their perseverance paid off. In March 2015, China and Sri Lanka signed an agreement to jointly investigate CKDu and improve drinking water safety. Since then, Wei and his team have made frequent visits to Sri Lanka, conducting in-depth research and developing tailored water treatment solutions.

Today, at 55, Wei continues to lead the Laboratory of Water Pollution Control Technology at the Chinese Academy of Sciences (CAS), driving innovation in environmental governance and international cooperation.

The issuance of Sri Lankan stamps honoring Wei not only celebrates his contributions but also underscores the power of cross-border scientific partnerships in tackling some of the world’s most pressing challenges.

Wei’s unwavering dedication, alongside his team, has brought about big changes in Sri Lanka. Notably, the CAS facilitated the construction of four water treatment facilities in regions severely affected by CKDu. These facilities now provide safe drinking water for more than 5,000 villagers and 1,300 schoolchildren.

Additionally, the China-Sri Lanka Joint Research and Demonstration Center for Water Technology (JRDC) has been in service since 2021 to further bolster collaborative efforts.

Beyond infrastructure development, the CAS has prioritized capacity building, training over 30 water specialists and approximately 40 graduate students in water and environmental studies for Sri Lanka. This focus on local expertise has created a sustainable foundation for long-term environmental and public health improvements.

“Villagers suffering from kidney diseases have reported not needing hospital visits for years, thanks to the assistance provided by Chinese scientists,” said Titus Cooray, a Ph.D. student at the JRDC, adding that the local people now trust Chinese scientists wholeheartedly.