Thursday Jul 11, 2024. Dailymirror. Sunday Times. Mirror Edu. Tamil Mirror. Lankadeepa. Middleast Lankadeepa. Ada. Deshaya. Life Online. Hi Online. Hitad. Timesjobs. EPaper. Advertise with us. Print Ads. Saturday, 6 July 2024 00:48 hitsCtrl.values.hits. . President Ranil Wickremesinghe. President Ranil Wickremesinghe yesterday revealed that the External Debt Restructuring EDR process will include a  5 billion in loan interest relief from bilateral creditors and a  3 billion debt writeoff from commercial creditors providing the country with a total relief of  8 billion.Wickremesinghe revealed this while addressing the Urumaya Freehold Land Deed Ceremony held in Kurunegala, the President s Media Division PMD said. I must express my gratitude to the residents of this area. Despite facing personal challenges akin to a house on fire, they prioritised community welfare and worked tirelessly to provide relief. Now, our country has emerged from bankruptcy. We have a fouryear plan to repay our loans, offering reduced burdens and interest cuts that will yield  5 billion in savings, the President said. We are currently in negotiations with private contractors. As a result, approximately  3 billion has been withdrawn. In total,  8 billion has been allocated for our use. Additionally, we have been granted  2 billion under relaxed terms. This does not account for funds expected from China or assistance from India. As a result, we have saved  8 billion over the past two years, he added.Wickremesinghe recalled that before assuming office, during President Gotabaya Rajapaksa s tenure, India provided  3.5 billion on favourable loan terms. Bangladesh also contributed  200 million. Despite economic challenges, we managed to repay  200 million.The President emphasised that true socialism lies in granting free land rights to the people, dismissing mere talk about socialism.He highlighted that his Government, credited with rescuing the country from bankruptcy, is actively addressing public issues. He pointed out that an additional 200,000 individuals will benefit from the Urumaya freehold land title initiative.The President underscored these initiatives, speaking at a ceremony held at the North Western Provincial Council auditorium in Kurunegala, where symbolic deeds were presented to 463 recipients out of 73,143 eligible in the district under the Urumaya national program.Addressing the gathering, he noted that he assumed leadership during a period of governmental uncertainty. He emphasised that the nation is now recovering from economic turmoil due to effective economic management. He highlighted plans for inclusive development in Kurunegala district as part of advancing the country s new economy. . . . . . . . Tweets by FTSriLanka. Editorial :. 94 0112 479 356 , 94 0112 479 780. 94 0112 447 848. Technical :. 94 011 247 9437. email protected. email protected. Marketing :. 94 011 247 9540. 94 011 247 9873. Web Advertising Inquiry :. Dilan : 94 77 372 7288. Print Advertising :. Chameen Dayarathne,. Manager  Marketing,. : 0719 488 227  0769 285 885. All the content on this website is copyright protected and can be reproduced only by giving the due courtesy to 'ft.lk' Copyright 2004 Wijeya Newspapers Ltd.
President Ranil Wickremesinghe announced a total relief of $8 billion through the External Debt Restructuring process. This includes a $5 billion loan interest relief from bilateral creditors and a $3 billion debt writeoff from commercial creditors. The President highlighted the importance of granting free land rights to the people and outlined plans for inclusive development in Kurunegala district.