Sri Lanka’s creditors likely to reach debt reduction deal this month – report
Colombo Page | 2nd October
Sri Lanka’s major creditors such as Japan, India and France are likely to reach a broad agreement this month on debt reduction steps including extending repayments, Japan’s Sankei newspaper reported on Monday.
Sri Lanka has held multiple rounds of talks with bondholders and bilateral creditors including Japan, China and India on reworking its foreign debt after suspending repayments in May last year.
Govt to deport 1.1m illegal ‘aliens’, Afghan nationals living in Pakistan
The News | 2nd October
The caretaker government on Monday announced its decision to deport 1.1 million illegal foreigners living in Pakistan.
As per details, the eviction of “aliens” will be carried out in three phases with illegal residents being expelled from the country in the first phase.
Meanwhile, the second and third phases will see the deportation of those
possessing Afghan citizenship and proof of residence cards respectively.
Afghan Embassy in India announces permanent closure
Afghanistan Times | 30th September
The Afghan embassy in India, led by an appointee of the pre-Taliban Ashraf Ghani government, has decided to cease its operations permanently. This decision comes as a result of financial constraints and a
lack of support from the Indian government.
The embassy reportedly communicated this decision to India’s external affairs ministry earlier this week, as revealed in a note verbale (NV) circulating online.
PAKISTAN
Pakistan emerges as top
International Development Association borrower in 2023
Dawn | 2nd October
Pakistan was the top borrower of the International
Development Association (IDA) in fiscal year 2023, securing $2.3 billion in
funding, the World Bank said in its annual report.
The bank helped Pakistan respond to devastating floods with
nearly $1.7bn for five projects in the worst-affected Sindh province to build
resilient housing, restore crop production, provide health services for mothers
and children, and strengthen social protection and the local government’s
disaster response capacity.
IMF mission to arrive in Pakistan
by late Oct
The Express Tribune | 3rd October
A mission of the International Monetary Fund (IMF) will
arrive in Pakistan in the last week of October to review the country’s economic
performance in the first three months of the current fiscal year.
According to sources from the Ministry of Finance,
discussions will also take place between the caretaker government and the
mission regarding reforms in various sectors, including taxes and energy.
They said once the economic review is successfully
completed, Pakistan will receive the next installment of $700 million from the
IMF after its board’s approval.
US assures Pakistan of assistance
to counter terrorism
The Nation | 3rd October
State Department spokesperson Mathew Miller said that
Pakistan has suffered tremendously from terrorist attacks.
The State Department spokesperson expressed his deepest
sympathies for those killed and injured in Hangu and Mastung attacks.
He said that “people of Pakistan have suffered tremendously
from terrorist attacks. They deserve to practice their faith without fear.”
The spokesperson offered his condolences to families who
lost loved ones and a speedy recovery to those who were injured in the attack.
SRI LANKA
Tourist arrivals surpass 100K in
Sept.; China ranks second in tourist traffic
Daily Mirror | 3rd October
Sri Lanka reached the 100,000 tourist arrival mark in
September, marking the eighth month of 2023 this milestone was achieved.
However, with the arrivals totalling 111,938, the island
nation managed to realise only 93 percent of the target set for the month of
September.
As per the targets set by the Sri Lanka Tourism Development
Authority (SLTDA), the aim was to draw at least 120,201 international visitors
in September.
Another key significant milestone realised in September was
crossing the one million tourist arrival mark.
RW says great power rivalries and
geopolitics emerging threat to Third World
The Island | 1st October
The West has labeled China’s Belt and Road Initiative as a
cohesive program, and the participating countries like Sri Lanka are looked
upon with suspicion, President Ranil Wickremesinghe said on Thursday (28) at
the Berlin Global Conference.
“This will further hurt economic prospects in the global
South, and the polarization will become more evident,” he said.
Great power rivalries and geopolitics have been an emerging
threat for open access to trade, investment, capital, and technology that are
vital for the economic recovery of the developing world, Wickremesinghe said.
AFGHANISTAN
Over one million mothers and
children deprived of food aid in Afghanistan: WFP
The Khaama Press | 2nd October
The World Food Program reports that over one million mothers
and children in Afghanistan have been deprived of food assistance due to severe
budget constraints.
On Monday, this organization warned that the situation for
women in Afghanistan will worsen without immediate funding.
The World Food Program, in a previous tweet on their
official Twitter page, stated that currently, women in Afghanistan bear the
brunt of reductions in aid.
Muttaqi Leads Delegation to China
to Attend Trans-Himalaya Forum
TOLO News | 3rd October
Acting Foreign Minister Amir Khan Muttaqi led a delegation
to China to attend the Trans-Himalaya Forum for International Cooperation based
on an official invitation from Beijing.
The deputy spokesman for the Foreign Ministry, Zia Ahmad
Takal, said on X that Muttaqi will also hold bilateral talks with the Chinese
Foreign Minister and representatives of other countries in addition to
participating in the meeting.
The Foreign Ministry said in a statement that participants
will discuss economic, regional and climate issues in the meeting on the 4th
and 5th of October.
BANGLADESH
PM Hasina-US security advisor
meeting: US reiterates holding free, fair election
Prothom Alo | 4th October
The US reiterated the importance of a free and fair election
in Bangladesh and fostering the bilateral relationship between both the
countries.
US national security advisor Jake Sullivan emphasised the
issues while paying a courtesy call to prime minister Sheikh Hasina in
Washington on 27 September.
National Security Council coordinator for strategic
communications John Kirby confirmed the media about the meeting at a press
conference at the White House in Washington on Tuesday afternoon (Washington
time).
Bangladesh makes fast economic
recovery: WB
Bangladesh Post | 3rd October
Bangladesh has made a strong economic recovery from the
COVID-19 pandemic and progressed in reducing poverty, says the World Bank in
its twice-year-update.
The latest Bangladesh Development Update titled ‘New
Frontiers in Poverty Reduction’ was released by the World Bank on Tuesday at
its Dhaka office in the capital.
The World Bank said reforms to address inflation, through
monetary and fiscal policies, as well as financial sector vulnerabilities will
be critical for the country to sustain growth and poverty reduction.
Dengue: Death toll now 1,030 as 13
more die in 24hrs
Dhaka Tribune | 3rd October
Thirteen more deaths were reported from dengue in 24 hours
till Tuesday morning, raising the fatalities from the mosquito-borne disease in
Bangladesh to 1,030 this year.
During the period, 2,799 more patients were hospitalized
with the viral fever, according to the DGHS.
Of the new patients, 682 were admitted to hospitals in Dhaka
and the rest outside the capital–indicating a worsening situation across the
country, DGHS said.
BHUTAN
Govt. mulls over airfare cuts to
boost tourism
Kuensel | 3rd October
The government is exploring measures to reduce airfare as
part of its efforts to boost tourism.
The National Assembly house discussed improving the
incentive packages and other viable strategies to attract more tourists,
considering the tourism industry’s ability to contribute enormously to the
national exchequer.
Finance Minister Namgay Tshering said that the government is
exploring the possibility of lowering airfare to attract more tourists and is
in consultation with the airline companies.
Banking on hydropower to sustain
growth
Business Bhutan | 28th September
Even as Bhutan witnesses a dip of 10.3 % in hydropower
generation, between January and June 2023, compared to the same period last
year, the Asian Development Bank (ADB) has said that greater hydropower
generation in 2023 and 2024 will sustain growth. The Bank in a recent report
says that growth in the construction industry, although substantial, is
expected to decelerate, but projects such as the 1,020 megawatt Puna-2
hydropower plant and the smaller Nikachhu plant are near completion and that in
2024, the commissioning of these power plants will spur a 5.4% expansion in
industrial growth. The Bank has also pointed out that a widening fiscal deficit
and declining foreign exchange reserves will remain key concerns for the
government.
MALDIVES
Raajje | 2nd October
India will be the nearest and dearest neighbor of Maldives
and President-elect Dr. Mohamed Muizzu’s first foreign trip is expected to be
to India, says the Vice President of People’s National Congress (PNC)’s Vice
President, Mohamed Hussain Shareef (Mundhu).
Mundhu said this in an interview to an Indian media outlet.
In his phone interview, Mundhu stated that the new elected
government would absolutely like to continue the tradition, where the first
foreign trip by a new Maldives president is to neighboring India.
Maldives national debt to GDP ratio to increase 115 percent:
World Bank
The Edition | 4th October
World Bank forecasts Maldives’ national debt to Gross
Domestic Product (GDP) ration to increase by 115 percent.
The bank said that though Maldives economy was expected to
grow by 8.2 percent in 2023, the actual economic growth will cap at 6.5 percent
in the current year.
The Ministry of Finance however, projects a 9.4 percent
increase.
Statistics from the ministry indicate that the state’s debt
stands at MVR 108 billion. According to the World Bank, this figure could rise
if the debt-to-GDP ratio increases.
Muizzu meets British envoy in first meeting with a
foreign diplomat
Sun | 4th October
Maldivian President-elect Dr. Mohamed Muizzu met with the
British High Commissioner Caron Röhsler on Thursday, in his first meeting with
a foreign diplomat upon being elected to office.
The meeting took place at Muizzu’s residence in Male’ City,
Dhimyath, at around 08:55 am Thursday.
The meeting was also attended by Vice President-elect
Hussain Mohamed Latheef (Sembe).
Muizzu had previously stated that several foreign diplomats
had requested meetings with him during the ongoing transition period. He said
that he would hold meetings in accordance with the law.
MYANMAR
Myanmar’s Cash-Strapped Junta Hikes
Taxes, Utilities Despite Surging Inflation
The Irrawaddy | 2nd October
Myanmar’s cash-starved military regime is again preying on
householders and businesses in a desperate bid to prop up its coffers.
In its latest moves, the regime has increased utility bills
while announcing that license fees for jade and gems dealers will be hiked
sixfold next year.
The state-owned Myanmar Gems Enterprise issued a notice on
September 15 saying that license fees for buying and selling finished jewelry
will be increased from 50,000 kyats to 300,000 kyats (nearly US$ 90), from
30,000 kyats to 200,000 kyats for jade cutting, and from 30,000 kyats to
150,000 kyats for buying and selling raw gems.
UN must end its ‘failed approach’ in
Myanmar, report says
Myanmar Now | 3rd October
The Special Advisory Council for Myanmar (SAC-M) criticised
the United Nations (UN) for “failing” the people of Myanmar through its
dealings with the military regime in a report released on Tuesday.
The group of independent international experts outlined how
the UN Country Team (UNCT)—the officials representing the UN Secretariat and
all UN agencies operating in Myanmar—prioritises ”appeasing” the junta in order
to maintain a presence in the country rather than finding ways to deliver aid
directly to people “in line with their needs and their democratic will and
aspirations.”
NEPAL
China visit has consolidated
climate of bilateral trust between two countries: PM Dahal
The Himalayan Times | 1st October
Prime Minister Pushpa Kamal Dahal has said that his official
visit to China has further strengthened the climate of mutual confidence
between the two countries.
He informed today’s House of Representatives meeting about
his participation in the 78th Session of the United Nations General Assembly
and the official visit to China, asserting that the visit to China has played a
key role in further strengthening the historical relations between the two
countries.
Australian parliamentary delegation
in Nepal for three-day visit
The Kathmandu Post | 3rd October
An Australian parliamentary delegation led by Speaker of the
Australian House of Representatives Milton Dick is on a three-day official
visit to Nepal starting Tuesday.
This is the first ever Australian Parliamentary Delegation
visit to Nepal in over six decades of diplomatic ties with Nepal, signaling the
flourishing bilateral relationship.
According to a statement issued by the Australian Embassy,
other members of the delegation include Libby Coker, Joanne Ryan, Senator Dean
Smith, and Senator Ralph Babet.
MCC in crisis: Transmission line
project faces scrutiny due to error in determining actual cost
Onelinekhabar | 4th October
The Millennium Challenge Corporation (MCC)
compact was seen to be a game changer in Nepal. However, lately, there seem to
be many flaws in the basic design and environmental impact study report of the
transmission line project.
The Millennium Challenge Account (MCA) Nepal has granted
approval and revised the reports for the construction study of the transmission
line, lacking a robust economic cost analysis. The projected cost is now
estimated to be 66 per cent higher than the initial anticipation, leading to
the need for approval and subsequent revisions.
