IMF approves USD 206 million emergency funding for cyclone-hit Sri Lanka's recovery
Colombo (PTI): The IMF has approved an emergency funding of USD 206 million under its rapid finance instrument to help Sri Lanka “address the urgent needs arising from the catastrophic Cyclone Ditwah and preserve macroeconomic stability”.
The cyclone caused widespread destruction in the island nation and left over 643 people dead.
In a statement issued on Friday, the Washington-based International Monetary Fund (IMF) said the disaster has created urgent humanitarian and reconstruction needs, generating significant fiscal pressures and balance-of-payments needs.
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The emergency financial support provided by the IMF under the rapid finance instrument will help address these pressures, it said.
The IMF added that the cyclone devastation hit when the Fifth Review of Sri Lanka’s USD 2.9 billion bailout was nearing completion.
“Given the time needed to assess the economic impact of the cyclone and examine how an IMF-supported programme can best support Sri Lanka’s recovery and reconstruction efforts while preserving objectives and policy priorities, the Fifth Review has been deferred," it said.
"An IMF mission team will visit Sri Lanka in early 2026 to resume discussions,” it added.
The 48-month extended fund facility deal with the IMF in March 2023 carried hard reforms to Sri Lanka's welfare-based governance.
It was signed after Sri Lanka plunged into an unprecedented economic meltdown with its first-ever sovereign default.
Several hours before the IMF decision, the parliament here approved without a vote a supplementary estimate of LKR 500 billion, which the government said was required to restore the livelihoods of those affected by the disaster.
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Kerala CM Vijayan flags ‘The Kerala Story 2’ as ‘threat to secularism’
Thiruvananthapuram (PTI): Kerala Chief Minister Pinarayi Vijayan on Wednesday expressed concern over the upcoming release of the second part of 'The Kerala Story', claiming that its first installment was made with the "intent to spread hatred against the state and undermine its secular tradition."
Vijayan, in a statement issued by his office, also questioned how "poisonous works produced to spread division and hatred in society" were allowed to be screened, while a film like 'Beef' was barred from a film festival.
He further said that Sangh Parivar centres had taken over and spread the false narrative conveyed by 'The Kerala Story'.
“They are spreading false propaganda by portraying even marriages conducted with mutual consent as examples of communalism and forced religious conversion,” the CM said.
He contended that such forces view Kerala—with no communal riots and a tradition of mutual respect among communities—with hostility, and termed them “enemies of the state” attempting to destroy the peace and tranquility of the region.
“We must collectively reject attempts to portray Kerala, a land of religious harmony that stands at the forefront of sustainable development and is a model in maintaining law and order, as a center of terrorism,” Vijayan said.
“It is the responsibility of each of us to ensure that Kerala’s secular foundation is not undermined by false propaganda and to reject it by upholding the values of secularism and brotherhood,” he added.
Directed by Kamakhya Narayan Singh, the teaser of 'Kerala Story 2: Goes Beyond', was released recently.
The first film, 'The Kerala Story', won awards for Best Direction and Best Cinematography at the 71st National Film Awards.
