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IMF's deep concern over SL situation_我的网站

A |     Colombo, Oct 17 (UNI) The International Monetary Fund (IMF) has expressed deep concern over the current situation in Sri Lanka and said it hopes it will be able to work fast to end the suffering, specially of the country’s poor and vulnerable.
Addressing queries put forward by the media, including that of Mirror Business at a press briefing, the IMF reiterated that although the staff-level agreement on a four-year EFF programme was reached, the initial disbursement of the programme will only come after the board meeting.
IMF Deputy Director (Asia and the Pacific) Anne-Marie Gulde-Wolf said the disbursement of IMF financing was “preconditioned on the authorities taking certain prior actions on which they are already working. And importantly, on reaching a solution on the debt situation so far”, the Daily Mirror reported on Monday.
As the island nation’s debt was assessed as unsustainable at this stage, the IMF official shared that for the IMF executive board to approve it will need two specific financing assurances.
The first would be from official bilateral creditors, where the fund requires assurances that debt sustainability will be restored. The second assurance is to establish there are “good faith” efforts underway to deal with private sector debt.
Sri Lanka is currently working with its legal and financial advisors on this debt element, the Mirror said.
With regard to the timeline, Gulde-Wolf said it was difficult to be specific in this regard since the process of debt negotiations usually takes time.
IMF’s experience from its member nations in this regard was that the timeline differs depending on who the creditors were and what is involved.
“We certainly are supporting the process as much as we can. And we hope that everybody can work expeditiously to get a process underway, and discussions have been starting, including with the support of all bilateral creditors that are involved,” the report quoted her as saying.
The International Monetary Fund (IMF) said that Sri Lanka is and will remain a middle-income country even after a decline in the Gross Domestic Product (GDP).
The Fund is currently working closely with the World Bank (WB) and the Asian Development Bank (ADB) on programmes for Sri Lanka.
Sri Lanka is expecting to raise up to US$ 2.0 billion worth of bilateral loans collectively from the ADB), the World Bank and other multilateral lenders as bridge financing after country secured programme support from the Fund, according to President and Finance Minister Ranil Wickremesinghe.
UNI MR。    Citing concerns about the effects of climate change, the International Olympic Committee said Friday it wants to pick two Winter Olympic host cities in July — putting Salt Lake City quickly into play for the 2034 edition.IOC president Thomas Bach said the Olympic body aims to confirm hosts for both the 2030 and 2034 Winter Games at its meeting on the eve of next year's Paris Olympics.Sweden, Switzerland and France have been working on possible bids for the 2030 edition and Salt Lake City officials have long targeted 2034. That would avoid the United States hosting back-to-back Olympics after the 2028 Los Angeles Summer Games.Picking Salt Lake City a decade in advance would give the IOC a trusted partner amid changing weather patterns and also could keep together people who have worked toward bringing the Olympics back the city that hosted the 2002 Games.The double award proposal by the IOC executive board still needs approval by the full membership at the Olympic body's annual meeting, which opens Sunday in Mumbai, India. That should be a formality.The IOC has declining options for Winter Games hosts. Bach noted that only 15 countries on three continents currently meet the criteria of having at least 80% of existing venues for snow sports and a “climate-reliable” outlook to host events in future decades.“We need to address very quickly this dramatic impact of climate change on winter sport,” Bach said in Mumbai. “By 2040, there remain practically just 10 NOCs who could host these snow events.”A likely longer-term project for the IOC is deciding on a rotation policy of a small pool of regular Winter Games hosts.The next deadline for the 2030 and 2034 Olympics will come Nov. 28-Dec. 1 at a board meeting in Paris. A single preferred candidate for each is expected to be chosen and then would enter into exclusive negotiations with the IOC.That is the new process for selecting Olympic host cities and regions, avoiding the once-traditional campaigns and votes which were at risk of vote-buying schemes.The Japanese city of Sapporo, which hosted the 1972 Winter Games, was once favored for the 2030 edition. That bid was officially dropped this week in fallout from criminal investigations and convictions for corruption tied to the Tokyo Olympics in 2021.___AP coverage of the Paris Olympics: https://apnews.com/hub/2024-paris-olympic-games。

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