Lanka hopes to clinch debt repayment moratorium: Prez Wickremesinghe
The Business Guardian|March 07, 2024
Sri Lanka's President Ranil Se Wickremesinghe outlined ambitious plans on Wednesday, aiming to defer debt repayments until December 2027 as part of an ongoing restructuring process, with the goal of completing payments by 2042. He defended these unpopular reforms as necessary steps to rejuvenate the country's struggling economy.
Lanka hopes to clinch debt repayment moratorium: Prez Wickremesinghe

Currently mired in debt restructuring negotiations, Sri Lanka faces significant challenges in reaching agreements within reasonable time frames. Wickremesinghe highlighted the immense pressure the country faced in meeting external debt obligations, amounting to $6 billion annually as of 2022. This burden, constituting 9.5 percent of the GDP, proved unsustainable.

"We aim to alleviate this burden to 4.5 percent of the GDP through debt restructuring," Wickremesinghe, who also serves as the country's finance minister, emphasized.

Bu hikaye The Business Guardian dergisinin March 07, 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye The Business Guardian dergisinin March 07, 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

THE BUSINESS GUARDIAN DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
PM Modi reaffirms India's commitment to Indo-pacific cooperation: Foreign Secy Misri
The Business Guardian

PM Modi reaffirms India's commitment to Indo-pacific cooperation: Foreign Secy Misri

After Prime Minister A Narendra Modi attended Quad summit in US, Foreign Secretary Vikram Misri said that prime minister emphasised India's commitment to cooperation, contact, and engagement for growth with various partners in the Indo-Pacific region.

time-read
2 dak  |
September 23, 2024
Jagan Reddy labels CM Naidu a "liar" in Tirupati prasad letter to PM Modi
The Business Guardian

Jagan Reddy labels CM Naidu a "liar" in Tirupati prasad letter to PM Modi

Attempts are being Amade by Chief Minister Chandrababu Naidu to \"irreparably tarnish the sanctity, integrity, and reputation\" of Tirumala Tirupati Devasthanams, former Andhra Pradesh CM YS Jagan Mohan Reddy wrote to Prime Minister Narendra Modi on the Tirupati Prasad adulteration row.

time-read
1 min  |
September 23, 2024
INDIA SIGNS KEY CLEAN ECONOMY AND IPEF AGREEMENTS
The Business Guardian

INDIA SIGNS KEY CLEAN ECONOMY AND IPEF AGREEMENTS

India signed landmark Clean and Fair Economy agreements under the IndoPacific Economic Framework (IPEF) NEW DELHI I ndia signed and exchanged first-of-its-kind agreements focused on the Clean Economy and Fair Economy under the IndoPacific Economic Framework (IPEF) on Saturday, during Prime Minister Narendra Modi's three-day visit to the United States for the Quad Summit.

time-read
2 dak  |
September 23, 2024
The Business Guardian

Sri Lankan elections commission orders second round of presidential vote counting

In an unexpected turn of events, Sri Lanka polls, Elections Commission Chairman RLAM Ratnayake announced a second preference count.

time-read
1 min  |
September 23, 2024
PM MODI: STRONG INDIA-JAPAN TIES ESSENTIAL FOR GLOBAL PROSPERITY
The Business Guardian

PM MODI: STRONG INDIA-JAPAN TIES ESSENTIAL FOR GLOBAL PROSPERITY

PM Modi and Japanese PM Kishida met at the Quad Leaders’ Summit to strengthen the India-Japan partnership

time-read
1 min  |
September 23, 2024
India focuses on unity and democratic values during PM Modi's US visit
The Business Guardian

India focuses on unity and democratic values during PM Modi's US visit

Among the overachAing messages from Prime Minister Narendra Modi's engagements during the Quad summit is the emphasis of India on minimizing conflict and division while leveraging democratic values to pursue development objectives, Foreign Secretary Vikram Misri said on Sunday.

time-read
2 dak  |
September 23, 2024
Ashwin hails miraculous comeback after victory over Bangladesh
The Business Guardian

Ashwin hails miraculous comeback after victory over Bangladesh

Following India's triumph over Bangladesh in the first Test in Chennai by 280 runs, veteran spinner Ravichandran Ashwin addressed the post-match press conference and commended Rishabh Pant's remarkable comeback.

time-read
2 dak  |
September 23, 2024
The Business Guardian

Fossil fuels to dominate energy mix as EV growth slows and clean energy faces hurdles: McKinsey Report

Despite the ongoing shift toward cleaner energy, fossil fuels will continue to play a major role in meeting global energy needs, accounting for 40 to 60 per cent of global energy supply by 2050 due to the slowerthan-expected adoption of electric vehicles (EVs) and challenges in scaling clean energy technologies, according to McKinsey report.

time-read
1 min  |
September 23, 2024
The Business Guardian

DFS secretary leads conference on recoveries, pendency, DRT 2024

In a move to improve the In ery Tribunals (DRTs) and Debt Recovery Appellate Tribunals (DRATS), M.Nagaraju, Secretary of the Department of Financial Services (DFS), chaired a conference of chairpersons of DRATS and presiding officers of DRTs in the capital on Saturday.

time-read
1 min  |
September 23, 2024
The Business Guardian

Reliance Foundation pledges up to USD 10 million to women in digital economy fund

Reliance Foundation has Reliance committed up to USD 10 million to the Women in Digital Economy Fund (WiDEF), a collaboration between the United States Agency for International Development (USAID) and the Bill and Melinda Gates Foundation (BMGF).

time-read
1 min  |
September 23, 2024