Sri Lanka buying gold to diversify reserves: bank

Sri Lanka’s central bank on Saturday said it has been buying gold to diversify its reserves amid volatile currency markets, days after India announced it had purchased 200 tonnes of the precious metal. Central Bank assistant governor Nandalal Weerasinghe declined to confirm analysts’ estimates that the tropical island nation had purchased around five tonnes of… Continue reading Sri Lanka buying gold to diversify reserves: bank

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IMF clears Sri Lanka second tranche loan of 329 mln dlrs

The International Monetary Fund said Friday its executive board approved the release of 329.4 million dollars to Sri Lanka, the second portion of a loan to help the country weather the economic crisis. The IMF said the board completed the first review of Sri Lanka’s economic performance under a 20-month standby loan. This allows the… Continue reading IMF clears Sri Lanka second tranche loan of 329 mln dlrs

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Sri Lanka president announces wage hike for troops

Sri Lanka’s president has announced an immediate salary increase for all members of the country’s armed forces amid plans to boost the strength of the security services. President Mahinda Rajapakse granted the unspecified salary increase during a visit Wednesday to the island’s northern regions, which were recently wrested from Tamil rebel control, his office said.… Continue reading Sri Lanka president announces wage hike for troops

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US House pressures Sri Lanka on camps

The US House of Representatives urged Sri Lanka’s government Wednesday to guarantee the safety and quick release of some 300,000 Tamils and other war-displaced people currently held in camps. By an overwhelming 421-1 vote, lawmakers approved a non-binding resolution that calls on the authorities in Colombo to help the populations of widely condemned, tightly guarded… Continue reading US House pressures Sri Lanka on camps

Sri Lanka general avoids US questioning: ministry

The head of Sri Lanka’s military has been allowed to complete a US visit without being questioned over alleged war crimes against Tamil civilians, the foreign ministry here said on Wednesday. In a statement, the ministry praised US authorities’ "receptive and constructive attitude," which allowed General Sarath Fonseka to complete his visit without being quizzed… Continue reading Sri Lanka general avoids US questioning: ministry

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Canada ties Sri Lanka migrant ship to Tiger rebels

Several of a group of 76 Sri Lankan asylum seekers picked up off the Canadian coast last month have ties to the Tamil Tiger rebels and could pose a security risk, officials said Tuesday. The Canadian government told an immigration hearing that the "Ocean Lady" freighter used to transport the migrants has been linked to… Continue reading Canada ties Sri Lanka migrant ship to Tiger rebels

Sri Lanka’s opposition unites to face snap polls

Sri Lanka’s main opposition on Tuesday formed an alliance with minority Tamil and Muslim parties and a breakaway faction of the ruling coalition to contest possible snap elections. Opposition leader Ranil Wickremesinghe said his United National Party had set up the United National Front (UNF) to press for the scrapping of the executive presidential system… Continue reading Sri Lanka’s opposition unites to face snap polls

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