LONDON, Dec 13 (Reuters) - The executive board of the International Monetary Fund is not expected to formally approve Sri Lanka's $2.9 billion bailout before year-end, a key step required for the embattled country to receive funding, two sources familiar with the matter said.
Seeking a way out of its worst economic crisis in decades, Sri Lanka reached an IMF staff-level agreement in June with the deal subject to approval and contingent on Sri Lanka authorities following through with previously agreed measures.
Sri Lanka said in September it expected the board to approve the deal by year-end. Progress has been slow in recent months, and Sri Lanka's finance minister acknowledged last month the request might extend into January.
Sri Lanka has to secure prior financing assurances from creditors, put its heavy debt burden on a sustainable path and increase public revenue before the global lender will disburse the funds. The IMF stressed the importance of joint talks involving three of Sri Lanka's main bilateral creditors - China, Japan and India.-By Jorgelina Do Rosario
Public Security Minister Ananda Wijepala told Parliament today that the suspect in the rape of a lady doctor at the Anuradhapura teaching hospital has been identified as an army deserter and he will be apprehended shortly.
Police have arrested the suspect connected to the sexual assault on a female doctor at the Anuradhapura Teaching Hospital today morning in Galnewa.
The Dutch Public Prosecutor suspects two companies of paying bribes in the construction of hospitals in Sri Lanka, according to an investigation by FD, the Dutch financial newspaper.
The Minister of Power, Kumara Jayakody, stated that in the future, internationally funded projects, such as power projects, will only be carried out through government-to-government (G2G) agreements and competitive procurement.
The Government today tabled in the House the Report of the Commission to Inquiry into the Establishment and Maintenance of Unlawful Places of Detention and Torture Chambers in the Batalanda Housing Scheme.
Israel, a major player in the global diamond and jewellery trade, has invited Sri Lankan gem and jewellery businessmen and designers to collaborate with Israeli diamond traders.
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