Sri Lanka

Maldives, Sri Lanka To Establish Framework for Medical Evacuation Flights

Maldivian, Sri Lankan Parliament Speakers Discuss Enhanced Cooperation

Sri Lanka Parliament Speaker Mahinda Yapa Abeywardana hosted a meeting with a Maldivian delegation led by People's Majlis Speaker Mohamed Aslam on 16 January. The delegation included parliamentarians Ali Azim, Ali Niyaz, Hussain Shaheem, and Secretary General Fathimath Niusha. Discussions focused on strengthening bilateral ties, parliamentary cooperation, and sharing best practices. Speaker Aslam thanked Sri Lanka for its support in education and health, and acknowledged contributions of SriLankan Airlines and Bank of Ceylon. The visit included a tour of the Sri Lankan Parliament and meetings with the Sri Lanka-Maldives Parliamentary Friendship Association.

Muizzu, Wickremesinghe Discuss Bilateral Ties in Post-Inauguration Meeting

President Dr Mohamed Muizzu met with Sri Lankan President Ranil Wickremesinghe at Kurumba Maldives on Friday, November 17, 2023, just hours after Muizzu's inauguration as the eighth president of the Maldives. The leaders discussed bilateral ties, including education cooperation such as multiple visa entries for students under 18, and collaborative economic recovery. Wickremesinghe invited Muizzu for a state visit to Sri Lanka, which Muizzu accepted. The meeting highlighted the longstanding relations between the two countries.

President Solih Thanks Sri Lankan Counterpart for Enhancing Bilateral Ties

President Ibrahim Mohamed Solih met Sri Lankan President Ranil Wickremesinghe, who was in the Maldives to attend the inauguration of President-elect Mohamed Muizzu. They discussed Sri Lanka's recovery from economic recession and plans for economic expansion. Solih thanked Wickremesinghe for enhancing bilateral ties, noting the signing of numerous bilateral agreements during Solih's administration. Wickremesinghe expressed gratitude for aid provided by the Maldives during Sri Lanka's time of need. Wickremesinghe is the only head of state attending Muizzu's inauguration, scheduled at Republic Square in Male' City on Friday afternoon.

US Invests US$553 Million in Sri Lanka’s West Container Terminal to Counterbalance China’s Influence

The US International Development Finance Corp. (DFC) announced a US$553 million investment in Sri Lanka's West Container Terminal, its largest infrastructure investment in Asia. The project, co-developed with John Keells Holdings and Adani Ports, aims to counterbalance China's influence in the region. DFC CEO Scott Nathan highlighted Sri Lanka's strategic importance. The loan is structured to avoid impacting Sri Lanka's sovereign debt. This investment is part of DFC's global portfolio reaching US$9.3 billion in 2023, and is seen as a US effort to bolster allies in the Indo-Pacific.

SriLankan Airlines Up for Sale: Government Seeks US$500M Capital Injection in Debt Restructuring Drive

The Sri Lankan government has issued an Expression of Interest (EOI) for the divestiture of SriLankan Airlines, seeking at least US$500 million. The airline operates 23 Airbus aircraft to 39 destinations. The government offers up to 49% of shares or an outright sale. The airline has over US$1.3 billion debt as of March 2023, worsened by a recent default on a Rs 175 billion Treasury Bond. Aviation Minister Nimal Siripala de Silva stated the government will shoulder the remaining debt. The sale is part of a broader divestiture plan including Sri Lanka Telecom and Lanka Hospital Corporation.