Former Raichur Rajya Sabha MP Abdul Samad Siddiqui passes away
Raichur: Abdul Samad Siddiqui, former Rajya Sabha MP from Raichur, passed away on Monday after a prolonged illness, at the age of 87 years.
Siddiqui started his political career with the Janata Party that later merged to form the Janata Dal. He was also national general secretary of the Janata Dal. He was a member of the Rajya Sabha from 1988 to 1994.
He co-founded the Lok Shakti, after the Janata Dal split, and was the national vice-president of the new party since inception. The Lok Shakti was a state party in Karnataka, having several leaders of the Janata Dal as well as former chief minister Ramakrishna Hegde.
An educationist too, Siddiqui established several institutions in his native district Raichur, including the New Education Society and the Millat Education Society.
Siddiqui is survived by his wife and children.
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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.
