Author: LMD International

Sri Lanka’s new president has chosen his prime minister – selecting a woman for the third time in the country’s history. Anura Kumara Dissanayake named former university lecturer-turned-MP Harini Amarasuriya as prime minister on Tuesday – also giving her ministerial responsibility for justice, education and labour. Both are part of the left-leaning National People’s Power alliance, which has just three seats in Sri Lanka’s 225 seat parliament. BBC – September 24, 2024 The remaining interim cabinet roles were shared out between the party’s two other MPs, as speculation continued to mount over a potential parliamentary election being called in the…

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Voting has ended Saturday in Sri Lanka’s presidential election as the country seeks to recover from the worst economic crisis in its history and the resulting political upheaval. The election, contested by 38 candidates, is largely a three-way race among incumbent liberal President Ranil Wickremesinghe, Marxist-leaning lawmaker Anura Kumara Dissanayake, and opposition leader Sajith Premadasa. There are 17 million eligible voters, and final results are expected Sunday. Associated Press – September 21, 2024 The results will show whether Sri Lankans approve of Wickremesinghe’s leadership of a fragile recovery, including restructuring Sri Lanka’s debt under an International Monetary Fund program after it…

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Sri Lanka reached a draft deal with creditors to restructure $12.5 billion of international bonds, it said on Thursday, in a major boost to the island nation’s fragile recovery just two days before its presidential election. The country defaulted on its foreign debt for the first time ever in May 2022, engulfed in a severe crisis and buckling under its high debt burden and dwindling foreign exchange reserves. The agreement comes after Sri Lanka began a third round of formal debt restructuring talks with bondholders last week. The country had to renegotiate parts of a previous draft deal, which it…

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