Ali Sabry: Latest News

Full implementation of 13A, early Provincial Council elections are critical – Jaishankar

COLOMBO (News 1st) – India's External Affairs Minister Dr. S. Jaishankar said that the full implementation of the 13th Amendment and early conduct of provincial elections are critical for political devolution.He was speaking in Colombo on Friday (20) alongside Foreign Minister Ali Sabry, and with President Ranil Wickremesinghe present at the President's Office."He President briefed me on the political devolution and his thinking.

I shared with him our considered view that the full implementation of the 13th Amendment and early conduct of provincial elections are critical in this regard. Durable efforts towards reconciliation are in the interests of all sections in Sri Lanka," he said.He also handed over Prime Minister Narendra Modi's invitation to President Wickremesinghe to visit India at an early date to discuss how Sri Lanka – India partnership can facilitate Sri Lanka's strong recovery. India's External Affairs Minister Dr. S.

Jaishankar said that the primary purpose of coming to Colombo was to express India's solidarity with Sri Lanka during these difficult moments. "As you know, last year India extended US $ 4 Billion in terms of credits and rollovers to help Sri Lanka get through an economic crisis. For us, it was an issue of the neighbourhood first and not leaving a partner to fend for themselves. This year in a development situation that was beginning to cause concern, the same sentiment reasserted itself," he added.The Indian External Affairs Minister noted that Sri Lanka's creditors must take proactive steps to facilitate its recovery.

"India decided not to wait on others, but to do what we believe is right. We extended financing assurances to the IMF to clear the way for Sri Lanka to move forward. Our

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Narendra Modi Ranil Wickremesinghe S.Jaishankar Ali Sabry

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Ali Sabry - Bangladesh wants to boost trade with Sri Lanka - - India - Sri Lanka - Bangladesh - Burma
Bangladesh wants to boost trade with Sri Lanka
COLOMBO (News 1st) – Bangladesh Foreign Minister Dr A K Abdul Momen has underscored the need for setting up direct shipping connectivity with Sri Lanka to boost trade relations between Bangladesh and the South Asian nation.He also emphasised the resumption of negotiations for the early conclusion of the Preferential Trade Agreement (PTA) between the two countries.Bangladesh's foreign minister put the importance while holding a meeting with his visiting Sri Lankan counterpart Ali Sabry on Wednesday on the eve of the 22nd ministerial meeting of the Indian Ocean Rim Association (IORA) in the capital, a foreign ministry press release said on Thursday.During the meeting, the two leaders discussed the wide spectrum of bilateral relations and expressed hope to work closely together for the betterment of the two peoples and inclusive development of the region.Momen urged Sri Lanka to increase the import of agricultural products and pharmaceuticals from Bangladesh at an affordable price.Sri Lankan foreign minister said that his country is keen to work in close partnership with Bangladesh.The two leaders agreed to expedite the completion of the formalities to form an institutional platform to hold regular and comprehensive dialogues between the two countries at the level of foreign minister.The issue of mutual support for each other's candidature at various international fora was also discussed with due importance.Momen also sought support from Sri Lanka in repatriating the forcibly displaced Myanmar nationals sustainably.
Ali Sabry - Sri Lanka a major trading hub in Indian Ocean – Sabry - - India - Sri Lanka - Bangladesh - county Ocean
Sri Lanka a major trading hub in Indian Ocean – Sabry
COLOMBO (News 1st) – Sri Lankan Foreign Affairs Minister Ali Sabry told the Indian Ocean Rim Association session in Bangladesh on Thursday (24) that Sri Lanka is poised and is well positioned to be one of the major trading hubs of the Indian Ocean, addign that the country has demonstrated manifestly significant openness to trade and commerce.He emphasised the significance and necessity of actively engaging with the countries of the Indian Ocean Rim to mutually advance the economic and commercial interests of Sri Lanka as well as to maintain peace and stability in the region of Indian Ocean. He further stressed that Sri Lanka’s commitment to the matters that concern the Indian Ocean region remains one of the key cornerstones of the current economic and foreign policy of Sri Lanka. Minister highlighted that Sri Lanka is strategically positioned at the centre of one of the busiest sea lanes of the world, adding that Sri Lanka’s traditional and ancient links with the countries of the IORM go back many centuries and empirical evidence reveals that Sri Lanka’s geographical centrality markedly facilitated and aided maritime commerce and trade over the centuries.Given its progression as an Indian Ocean Hub, Sri Lanka has emerged as one of the most pivotal shipping lanes since two-thirds of the petroleum products and half of the container shipments of the world criss-cross close to the Southern coast of the Island.The Minister apprised the member states at the Council of Ministers of the IORA concerning Sri Lanka’s efforts in sustainable and efficacious usage of maritime resources and immense ocean pollution challenges as well as projects and programs implemented to safeguard the coastal belt and the Indian Ocean. This is to
Basil Rajapaksa - Ali Sabry - Charitha Herath - Charitha hits back: First culprit of Economic Crisis was Cabinet including Minister Sabry -
Charitha hits back: First culprit of Economic Crisis was Cabinet including Minister Sabry
COLOMBO (News 1st) – The former Chairman of the COPE Prof. Charitha Herath today hit back at the former Minister of Justice and the current Foreign Affairs Minister Ali Sabry against his remarks that the Cabinet of Ministers was clueless with regard to the economic crisis. Taking to twitter, the former COPE Chair released a document which included a Notice to the Cabinet by the former Finance Minister Basil Rajapaksa with regard to the country's foreign currency outflows and the distribution of responsibility on foreign currency inflow. The annexure attached to the document, which included the expected outflows and inflows during 2022, underlined the debt servicing payments, maturing sovereign bonds and expenses with regard to goods imports. Minister Ali Sabry on Friday (14) said that the Cabinet of Ministers "thought everything was ok" and failed to recognise the depth of the economic crisis, and were more invested in their own subjects and portfolios. The former COPE Chairman shared the documents and pointed out that such is evidence that the financial issue was discussed at the Cabinet though no solution was found. "True, first culprit of this disaster is the Cabinet of which Ali Sabry was a part." he tweeted. The incident also sparked more discourse, with several notable figures commenting on the matter, with some pointing out that a his resignation is the alternative to this issue.
Ali Sabry - Sri Lanka China agree to advance high-quality BRI - - New York - China - Sri Lanka
Sri Lanka China agree to advance high-quality BRI
COLOMBO (News 1st) – State Councilor and Foreign Minister Wang Yi met with Sri Lankan Foreign Minister Ali Sabry on the sidelines of the United Nations General Assembly in New York recently.Wang Yi expressed, China and Sri Lanka are each other's, strategic cooperative partners. The two countries have always shared weal and woe and sincerely helped each other. This year, which marks the 65th anniversary of the establishment of diplomatic relations between China and Sri Lanka and the 70th anniversary of the signing of the Rubber-Rice Pact, is of great significance for inheriting the past and ushering in the future. China is ready to work with Sri Lanka to carry forward the traditional friendship, consolidate strategic mutual trust and deepen and expand pragmatic cooperation. Congratulations to Sri Lanka on its initial results in stabilizing the situation and easing difficulties. China has provided medicines, rice, fuel, and other emergencies humanitarian assistance to Sri Lanka, and will continue to offer assistance within our capacity to help Sri Lanka overcome temporary difficulties.Sabry said that the Sri Lanka-China friendship has a solid foundation. China has provided strong support for Sri Lanka's economic and social development for a long time. In particular, China has offered timely help to Sri Lanka when it encountered difficulties. Sri Lanka will never forget that.
Ali Sabry - UNDCO wants further engagement with SL - - Sri Lanka - county Cooper
UNDCO wants further engagement with SL
COLOMBO (News 1st); The Regional Director for Asia and the Pacific of the United Nations Development Cooperation Office (UNDCO) David Mclachlan-Karr, who is currently on an official visit to Sri Lanka, paid a courtesy call on Foreign Affairs Minister Ali Sabry on 17 August 2022.Foreign Minister Sabry appreciated the goodwill, support, and understanding from the UN, particularly during the difficult period, and stated that Sri Lanka values its partnership with the UN. The Minister welcomed the launching of the UN Sustainable Development Cooperation Framework 2023 – 2027, yesterday (17) which will guide the work of the UN system in Sri Lanka in the next five years. The Cooperation Framework was finalized in partnership with the Government of Sri Lanka under the guidance of the Ministry of Finance and is underpinned by the principle of “leaving no one behind”.The Minister stated that due to the free healthcare, education, and social security system of the country, Sri Lanka has achieved a Human Development Index value that is well above the regional average. The Regional Director stated that Sri Lanka is a pioneer in providing health and education to the people and that the Cooperation Framework aims to augment such systems by a widened social protection net for vulnerable groups.He said that the UN looks forward to closer cooperation and engagement with Sri Lanka.
Ali Sabry - “We have bitten off more than what we can chew,” ; Foreign Reserves below USD 50 Mn; Finance Minister tells Parliament - - Usa - Sri Lanka
“We have bitten off more than what we can chew,” ; Foreign Reserves below USD 50 Mn; Finance Minister tells Parliament
COLOMBO (News 1st); Sri Lanka usable Foreign Reserves which were at around USD 7 Billion in 2019, had dropped to less than USD 50 Million.Finance Minister Ali Sabry PC told the Parliament on Wednesday (4), that Sri Lanka settled USD 8 Billion in Debt in 2021, and US currency was released to the market to maintain the rate at Rs. 203/-.“Based on these factors Sri Lanka’s liquidity had dropped,” said the Finance Minister citing multiple reasons for the drop as well.In 2018 Sri Lanka’s tourism industry boomed generating USD 4.4 Million in revenue, and it dropped to USD 200 Million in 2021, mainly due to COVID-19, said the Finance Minister.“In addition, crude oil which was at USD 45 per barrel has increased to a price north of USD 100 per barrel,” he added noting that irrespective of who comes to power, the situation is such.The Finance Minister also admitted that Sri Lanka should have approached the International Monetary Fund much earlier, and the rupee should have been depreciated in an proper manner.“All successive governments have always obtained new loans to settle the old loans, and never used loans to invest and use the returns to settle the loans,” he told the house adding that this is how Sri Lanka’s debt portfolio increased to USD 51 Billion over the years.“We have bitten off more than what we can chew,” he told the house, adding Sri Lanka’s debt servicing is such that it obtained one credit card to settle the previous card, and this has been going on for years, and eventually Sri Lanka has fallen into the crib, making it impossible to access more funds.He said the crisis at present is based on three main factors;1.
Ali Sabry - IMF urges Sri Lanka to tighten monetary policy, raise tax to address debt woes - - India - Sri Lanka - Washington
IMF urges Sri Lanka to tighten monetary policy, raise tax to address debt woes
(Reuters) – Sri Lanka must tighten monetary policy, raise tax and adopt flexible exchange rates to address its debt crisis, a senior International Monetary Fund (IMF) official said on Tuesday.The country of 22 million people has requested loans from the IMF as it struggles to pay for imports amid crushing debt and a sharp drop in foreign exchange reserves that has fueled soaring inflation.“We’ve had very good, fruitful, technical discussions on preparations for the negotiations with authorities over the past weekend and couple of days before,” said Anne-Marie Gulde-Wolf, acting director of the IMF’s Asia and Pacific Department, speaking at an online news conference.Sri Lankan Finance Minister Ali Sabry was in Washington last week to talk to the IMF, the World Bank, India and others about financing help for his country, which has suspended payments on portions of its $51 billion in external debt.“The requirement for fund lending will be progress toward debt sustainability,” Gulde-Wolf said, calling on Sri Lanka for measures to increase tax revenues to address critical spending needs.“Monetary policy has to be tightened to keep inflation in check,” she said. “We see a need for flexible exchange rates.”Gulde-Wolf did not reply to a question on the total value for any IMF package, nor the estimated timing of a conclusion to the negotiations with Sri Lanka.