Sri Lanka agrees debt restructuring with creditor countries

Today's news: The start of the long-awaited Chinese Communist Party plenary is set for 15 July; Another case of sexual assault by a US soldier against a minor in Okinawa; Modi prepares to travel to Moscow; The historic run of Afghanistan's national cricket team comes to a halt in the semifinals.

SRI LANKA

Sri Lanka has signed agreements with China and other creditor countries to restructure some USD 10 billion of bilateral debt. The move brings the country closer to finalising the debt restructuring process, which began in September 2022 after its reserves hit historic lows and forced the island nation to default on its external debt. The agreements will allow Sri Lanka to delay the repayment of bilateral creditors until 2028 and extend the repayment period until 2043. Some USD 12.5 billion in international bonds still remain to be restructured.

CHINA

The politburo announced that the Chinese Communist Party will meet from 15 to 18 July for its long-awaited third plenary session. This meeting will be a decisive moment in President Xi Jinping's third five-year term. The discussion will cover a wide range of objectives, from the economy to social development.

JAPAN-UNITED STATES

A US soldier has been charged with the abduction and rape of a teenage girl in Okinawa. The case is set to fuel long-standing local opposition to the military presence in the Japanese archipelago, home to more than half of the 54mial US soldiers serving in the country. The 25-year-old Air Force man allegedly assaulted the girl on 24 December and was identified thanks to security camera footage after the girl's family filed a complaint.

RUSSIA-INDIA

The advisor to the presidency of Russia, Jurij Ušakov, announced that preparations were being made for a visit to Moscow by the Prime Minister of India, Narendra Modi, for the first time since the beginning of the conflict in Ukraine. The bilateral summit with Putin will take place on 8 and 9 July...

AFGHANISTAN

The historic run of Afghanistan's national team at the T20 World Cricket Championship came to a halt in the semifinals. The team - which was founded in 1995 in refugee camps and competes under the country's flag wiped out by the Taliban - was defeated by South Africa in Trinidad and Tobago after finishing in the world's top four for the first time. Its success at the World Cup represented a rare moment of joy and unity for the country.

ISRAEL

Defence lawyers for Israeli Prime Minister Benjamin Netanyahu told the Jerusalem District Court that, due to his handling of the war, the PM will only be able to testify at the corruption trial against him 'only in March 2025' in order to have enough time 'not to compromise his rights and his defence'. The trial opened in May 2020.

TAJIKISTAN

In Tajikistan, new rules for regulating wedding and funeral ceremonies have come into force. They provide for very severe fines for lack of permission from the authorities, for the spreading of money during celebrations, for exceeding the permitted number of guests, and also for children's rites held in an irregular manner.

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