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Ali Sabry - 2 Sabry - 1 Yoshimasa Hayashi - 1 Uditha Jayasinghe - 1 Lincoln - 1
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Saturday - 1 Sri Lanka Foreign - 1 Japan's - 1 Thomson - 1 China - 1 Sri - 1

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6 mentions found


☆ Crisis-hit Sri Lanka invites Japan to resume investment
  + stars: | 2023-07-29 | by ( Uditha Jayasinghe | ) www.reuters.com   time to read: +1 min
COLOMBO, July 29 (Reuters) - Sri Lanka on Saturday invited Japan to resume investment in projects including power, roads and ports, after the Japanese foreign minister wrapped up the first high-level visit to the crisis-hit country in nearly four years. Sri Lanka Foreign Minister Ali Sabry said his country was seeking Japanese investment in sectors such as power, infrastructure, dedicated investment zones as well as in the green and digital economies. Japan's Foreign Minister Yoshimasa Hayashi is in Colombo as part of a multi-country diplomatic tour including India, South Africa, Uganda and Ethiopia. Sri Lanka, which lies along key shipping routes in the Indian Ocean, has become a hot spot for influence between India and Japan on the one side and China on the other. Japan is Sri Lanka's second biggest bilateral lender, after China, with about $2.7 billion in outstanding loans, according to latest finance ministry data.
Persons: Ali Sabry, Sabry, Yoshimasa Hayashi, Uditha Jayasinghe, Lincoln Organizations: Saturday, Sri Lanka Foreign, Japan's, Thomson Locations: COLOMBO, Sri Lanka, Japan, Colombo, India, South Africa, Uganda, Ethiopia, Maldives, China, Sri
☆ China will continue to support Sri Lanka in debt restructuring, Sri Lanka minister says
  + stars: | 2023-06-27 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina will continue to support Sri Lanka in debt restructuring, Sri Lanka minister saysAli Sabry, Sri Lanka's foreign affairs minister, says conversations between China and Sri Lanka have been "very, very fruitful" and cordial.
Persons: Ali Sabry Organizations: China, Sri Locations: Sri Lanka, China
☆ India says it is committed to boosting investment in crisis-hit Sri Lanka
  + stars: | 2023-01-20 | by ( Uditha Jayasinghe | ) www.reuters.com   time to read: +2 min
"We count on the government of Sri Lanka to provide a more business friendly environment to create a powerful pull factor." India has told the global lender that it strongly supports Sri Lanka's debt restructuring plan, with Sri Lanka owing about$1 billion to its nearest neighbour. We extended financial assurances to the IMF to clear the way for Sri Lanka to move forward." China is Sri Lanka's largest bilateral lender and the last remaining major creditor to yet to agree to the plan. Sri Lanka owed Chinese lenders $7.4 billion, or nearly a fifth of its public external debt, by the end of last year, calculations by the China Africa Research Initiative show.
☆ India makes inroads into Sri Lanka under China's long shadow
  + stars: | 2022-12-27 | by ( Uditha Jayasinghe Devjyot Ghoshal | Uditha Jayasinghe | Devjyot Ghoshal | ) www.reuters.com   time to read: +10 min
[1/3] Drivers push auto rickshaws in a line to buy petrol from a fuel station amid Sri Lanka's economic crisis, in Colombo, Sri Lanka, July 29, 2022. India's foreign ministry did not respond to questions from Reuters on its plans and strategic aims in Sri Lanka. New Delhi has long been concerned about China's clout in its neighbourhood, including Nepal, Bangladesh and Sri Lanka. "And as far as Sri Lanka is concerned, we don't want to contribute to any escalation of tension between any countries." "Sri Lanka has clearly benefited from being the closest neighbour to the most powerful country in the region.
☆ Sri Lanka's economy shrinks 11.8% in second-worst quarterly performance
  + stars: | 2022-12-15 | by ( Uditha Jayasinghe | ) www.reuters.com   time to read: +2 min
COLOMBO, Dec 15 (Reuters) - Sri Lanka's economy shrank 11.8% in the July-September quarter from a year ago, government data showed on Thursday, the second-worst quarterly contraction ever for the country going through a severe financial crisis. Economic mismanagement and the impact of the COVID-19 pandemic have left Sri Lanka short of dollars for essential imports including food, fuel, fertilisers and medicine. "This is the second-worst contraction Sri Lanka has experienced in a quarter after a 16.4% contraction in the second quarter of 2020," said Dimantha Mathew, head of research at First Capital. Sri Lanka's central bank estimates the economy will contract by about 8% in 2022. The economy had contracted 8.4% year-on-year in the second quarter, one of the worst performances in the island of 22 million people.
☆ Exclusive: Sri Lanka expects up to $8 bln more in loans, asset restructuring
  + stars: | 2022-12-15 | by ( Uditha Jayasinghe | ) www.reuters.com   time to read: +3 min
[1/2] Sri Lanka's Foreign Minister Ali Sabry speaks during an interview with Reuters at his office, in Colombo, Sri Lanka December 14, 2022. Sabry said Sri Lanka was still waiting for "letters of assurance" for debt restructuring from its largest bilateral creditor China, as well as India. The two countries have backed the restructuring efforts and Sri Lanka has shared documents and data with them, he said. Overall, Sri Lanka's economy has improved with essential imports such as fuel and food becoming regular, Sabry said. "So that should start in the next quarter of next year with the IMF loan coming in, other multilateral agencies coming in.
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