Latest news with #ExecutiveBoard
The Print
14 hours ago
- Business
- The Print
IMF allows Sri Lanka to draw $350 mn tranche from 4-yr facility after 4th review of bailout programme
The facility helped Sri Lanka revive its bankrupt economy by building its reserves and successfully negotiating debt restructuring with external creditors. Amid the island's unprecedented economic crisis, the International Monetary Fund (IMF) in March 2023 approved a nearly USD 3 billion facility to assist Sri Lanka's 'efforts to durably restore macroeconomic stability by restoring fiscal and debt sustainability. Colombo: The IMF has completed the fourth review of Sri Lanka's USD 2.9 billion bailout programme, allowing the country to draw a USD 350 million tranche from the four-year facility. 'The Executive Board of the International Monetary Fund (IMF) completed the Fourth review under the 48-month Extended Fund Facility (EFF) Arrangement, allowing the authorities to draw SDR254 million (about USD 350 million),' the global lender said in a statement. This brings the total IMF financial support disbursed so far to SDR1.27 billion (about USD 1.74 billion). The reforms that were imposed on the IMF's insistence have led to economic hardships, which the global lender said were a must to ensure growth and stability. The unpopular measures led to the change of government in 2024. The current government led by the National People's Power, which had been critical of the IMF-prescribed reforms and had vowed to review them, continues to stay on course with the IMF programme. This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content. Also Read: IMF imposes 11 new conditionalities on Pakistan, warns tensions with India could derail goals
The Hindu
21 hours ago
- Business
- The Hindu
IMF to provide Sri Lanka $350 million after fourth review of bailout
The IMF has completed the fourth review of Sri Lanka's $2.9 billion bailout programme, allowing the country to draw a $350 million tranche from the four-year facility. Amid the island's unprecedented economic crisis, the International Monetary Fund (IMF) in March 2023 approved a nearly $3 billion facility to assist Sri Lanka's 'efforts to durably restore macroeconomic stability by restoring fiscal and debt sustainability. The facility helped Sri Lanka revive its bankrupt economy by building its reserves and successfully negotiating debt restructuring with external creditors. 'The Executive Board of the International Monetary Fund (IMF) completed the Fourth review under the 48-month Extended Fund Facility (EFF) Arrangement, allowing the authorities to draw SDR254 million (about $350 million)," the global lender said in a statement. This brings the total IMF financial support disbursed so far to SDR1.27 billion (about $1.74 billion). The reforms that were imposed on the IMF's insistence have led to economic hardships, which the global lender said were a must to ensure growth and stability. The unpopular measures led to the change of government in 2024. The current government led by the National People's Power, which had been critical of the IMF-prescribed reforms and had vowed to review them, continues to stay on course with the IMF programme.
Fast Company
6 days ago
- Business
- Fast Company
20 ways leaders stay grounded and motivated in changing times
The demands of leadership don't pause when the ground shifts. For those guiding teams through uncertainty, staying present and motivated is vital to making sound decisions, maintaining team morale, and sustaining long-term momentum. In volatile environments, personal clarity can be hard for leaders to hold onto. To understand how experienced leaders maintain focus, 20 Fast Company Executive Board members share what keeps them steady and inspired. Their answers highlight the habits, values, and real-world reminders that help them lead through disruption without losing direction. 1. LETTING FAMILY MOMENTS SHIFT YOUR PERSPECTIVE My children's magnificent indifference to my importance keeps me grounded. After closing our biggest deal, my 4-year-old interrupted the celebration to ask if I'd seen her doll. That perspective reset was worth more than any coaching session. My daughter doesn't care about projections; she cares if I'm fully present for bedtime stories. This radical demotion from CEO to doll-finder instantly restores proportion. – Shayne Fitz-Coy, Sabot Family Companies 2. PRACTICING CRITICAL THINKING TO SEE MULTIPLE PERSPECTIVES Critical thinking has been the most important attribute that I have employed in my career. It seems we have an inordinate desire to create an opinion and truly believe that our opinion is correct. The reality is that there are always two sides to a story, and there can be truth in both sides depending on perspective. To be an effective leader, I need to understand both sides to the best of my ability. – Richard McWhorter, SRM Private Wealth 3. REMAINING CLOSE TO THE DAILY LIVES OF CONSUMERS What keeps me grounded is staying closely connected to the everyday lives of our consumers and understanding how they live, what they value, and how the apparel they choose supports their comfort, confidence, and self-expression. I'm continually inspired by the opportunity to lead purposeful design, and it's that human connection that fuels meaningful, scalable innovation. – Jane Newman, HanesBrands 4. TREATING CHANGE AS A CATALYST FOR PERSONAL GROWTH High-change environments are opportunities to learn more about yourself and to develop personally and professionally. When you learn and grow, you become more grounded because you're more confident in yourself and your abilities. – Tom Freiling, Freiling Agency 5. GIVING BACK THROUGH SERVICE AND VOLUNTEERING Volunteering and serving are the main things that keep me grounded and inspired. When you step out of your everyday work environment into real-life needs, ego fades and purpose sharpens. It's a reminder that leadership is about impact. Helping others with no agenda resets my perspective and refuels my drive, especially in environments where it's easy to lose sight of what really matters. – Kristin Hege, Convey Communications 6. TAKING OWNERSHIP OF YOUR TEAM'S FUTURE Owning a company means owning the responsibility to build an economy for your people—that keeps me grounded. What inspires me is the idea that if we build something truly great, our employees' kids will one day want to work here too. – Matt Hofherr, Barrett Hofherr 7. RECONNECTING WITH ORGANIZATIONAL PURPOSE Staying connected to purpose—both my own and the organization's—keeps me grounded. When change is constant and uncertainty is high, it's easy to get swept up in reacting rather than leading. Re-centering on why we do what we do reminds me that leadership is not about control but about stewardship. Purpose also fuels my resilience, and it keeps me aligned with my values even when the path forward isn't clear. – Krishnan Venkata, LatentView Analytics Corp. 8. GROUNDING DECISIONS IN IMPACT AND DATA What keeps me grounded and inspired is seeing the real impact of our work systemically and in people's lives. In a high-change environment, grounding ourselves in high-quality research and data shows us what's working and how to respond effectively and efficiently. It's not just numbers—it's a reflection of meaningful, measurable change. To me, that's a source of great hope. – Kelsey Morgan, EverFree Every once in a while, when I introspect, I realize that even though I have made improvements in myself, I have friends, colleagues, and leaders who are smarter and who continue to evolve themselves day in and day out. With this in mind, my journey of learning continues. – Ruchir Nath, Dell Technologies I think constant evaluation—seeking feedback from a diverse array of sources with disciplined consistency—is critical to remaining grounded. Even when we know feedback might not be what we want to hear, it's important to solicit it, process it, and recognize there is often merit in internalizing dissenting opinions—if for no other reason than to pressure-test your convictions. – Kendra Davenport, Easterseals 11. STARTING EACH DAY WITH A PRACTICE OF KINDNESS My daily kindness practice keeps me anchored through constant change. I begin each morning by recognizing team contributions and end by reflecting on where we've moved the needle for customers. This intentional focus on human impact not only grounds me in our purpose but continually reveals unexpected opportunities for innovation that spreadsheets alone would never uncover. – Chia-Lin Simmons, LogicMark 12. STAYING ROOTED IN COMMUNITY VALUES The one thing that keeps me grounded is my connection to my community. With them, I can keep a pulse on the values of what we have built and maintain clarity on our mission. It's part of being community-led. – Mike Rizzo, 13. KEEPING MISSION FRONT AND CENTER EACH DAY Staying connected to my core mission keeps me grounded. No matter how fast things change, purpose provides direction. I remind myself daily why I started and who I serve. That clarity fuels resilience, keeps my ego in check, and inspires me to adapt without losing sight of what truly matters. – Stephen Nalley, Black Briar Advisors 14. LISTENING DIRECTLY TO CUSTOMER EXPERIENCES Direct connections with our customers keep me grounded and inspired in a high-change environment. Hearing firsthand how our solutions rescue critical data during their worst moments reminds me of our mission, and real-world feedback drives and sparks our technology innovations. – Chongwei Chen, DataNumen Inc. 15. LEADING WITH PURPOSE INSTEAD OF URGENCY Staying connected to my 'why'—the purpose behind the work—keeps me grounded. In fast-changing environments, I find clarity and inspiration by focusing on the impact we're making and the people we're serving. That constant reminder helps me lead with intention, not just urgency. – Maria Alonso, Fortune 206 16. STAYING CLOSE TO CUSTOMERS AND WHAT THEY VALUE MOST What keeps me grounded is remembering that I've built everything by staying close to our customers and even closer to the truth and what matters to them. What inspires me is knowing that the right insight, delivered at the right moment, can change the trajectory of someone's business, even in highly volatile environments. – Reuben Yonatan CX Foundation 17. BEING FOCUSED ON SOLVING REAL, PRESSING PROBLEMS In a world of constant change, staying rooted in the mission and purpose of what we're trying to achieve keeps me grounded. It fuels my drive and ensures we stay aligned in the face of uncertainty. – Katrina (Katya) Rosseini, KRR Ventures 18. USING GRATITUDE TO STAY CENTERED AND CREATIVE Every morning, I spend five minutes in my gratitude journal, celebrating one PR win, one mom milestone, and one wild idea. That ritual reminds me why I built my businesses, so when the agency pivots, AI tools shift, or home chaos hits, I stay grounded in purpose and fueled by creativity. – Kristin Marquet, Marquet Media, LLC 19. RELYING ON CORE IDENTITY WHILE EMBRACING EVOLUTION I remain grounded knowing that with high change often comes high opportunity and exciting evolution. While this can sometimes be scary, I believe if we remain grounded in our DNA and look for ways to apply it in today's world, we will come out on top. Listening to the next generation, consulting with peers, and watching the trendsetters, I balance both skepticism and optimism. – Maggie ONeill, Peppercomm
India.com
6 days ago
- Politics
- India.com
Indias Olympics Dream Jolted As New IOC President Makes A Major Announcement
New International Olympic Committee (IOC) president Kirsty Coventry has announced a halt in selection process of the Olympics host committee will now pause and review the host cities. The move is a major shocker and a blow for India that has been eyeing to secure a bid for 2026 Summer Olympics and emerges as a leading contender. Coventry stated that the decision was primarily taken because of two main reasons. Firstly, IOC members wanted more engagement in the process and secondly the next host will be awarded after significant discussion over time and would be a tough decision to take. "There was an overwhelming support from the IOC members for a pause to be done and a review of the future host election process and we will be setting up a working group to look into this," said Coventry, 41. This was her first Executive Board meeting held in Lausanne. Further Details The review represents a notable departure from Bach's previous approach, which aimed to avoid expensive bidding processes by focusing on early, behind-the-scenes agreements with preferred candidates. This method resulted in Brisbane being rapidly chosen as the host city for the 2032 Games, an unexpected decision made 11 years ahead of time—sidestepping the usual competitive bids and voting. However, it faced criticism from IOC members who felt left out of the decision-making. "We want all interested parties to be a part of this pause and reflect and of this review. I am aware of the delegation coming next weekend - that will continue. They might be the first interested party for us to ask a couple of questions and to better understand from them. There is not going to be a specific pause on that but just on the entire process," she said. Coventry explained that the new direction responds to increasing calls from IOC members for more transparency and involvement. Her presidency began recently with private meetings that included over 70 IOC members in Lausanne, according to AP news agency. India Eyes 20236 India submitted a Letter of Intent to IOC in October in 2024 and will also be sending a senior delegation to Lausanne next week. India's Prime Minister Narendra Modi has been talking about India's bid to host the Olympics in his public rallies. "We are pushing for hosting rights of 2036 Olympics, it will take Indian sports to new height. Wherever Olympics happen, all sectors gain. It creates better facilities for athletes," he said.
Indian Express
6 days ago
- Business
- Indian Express
IOC pauses process to select 2036 Olympics host for which India is a major contender
India's aggressive bid to stage the 2036 Olympics hit a speed bump on Thursday after the International Olympic Committee (IOC) 'paused' the selection process for future hosts following the meeting of its Executive Board. The IOC's decision came days before a high-level Indian delegation, including representatives of the Union and Gujarat governments as well as the Indian Olympic Association, was scheduled to travel to Lausanne to make a pitch for the 2036 Games. The world body's president, Kirsty Coventry, who took charge on Monday, said the IOC's meeting with Indian officials will go ahead as planned from June 30 to July 2. The ongoing process to select future hosts was halted after IOC members expressed reservations about the current rules, in which they have virtually no say. Coventry said a working group will be formed to 'review how the future hosts are selected and when'. The IOC has 107 active members, which include royalty, Oscar winners, heads of state and industrialists. Nita Ambani, Chairperson of the Reliance Foundation, is the only IOC member from India. Approximately 70 of them were part of a meeting that decided to pause the process to choose future Games hosts. 'There was overwhelming support from the IOC members for a pause to be done and a review of the future host election process and we will be setting up a working group to look into this,' Coventry said after chairing her maiden Executive Board meeting in Lausanne. 'Firstly, members want to be engaged more in the process and secondly, there was a very big discussion on when the next host will be awarded.' Until the Tokyo Olympics, the IOC members picked a host country by voting. In 2019, the process was replaced with a Future Host Commission, which engaged in dialogues with interested nations and aimed to reduce expenses, as countries sought to outbid one another in the previous procedure. However, the IOC members considered the selection process under the Future Host Commission opaque and inconsistent. For instance, Brisbane was named the host of the 2032 Olympics 11 years in advance. By comparison, the French Alps were given just six years' notice for the 2030 Winter Games. The long preparation phase for Brisbane, too, has led to unique problems relating to funding and infrastructure development. Coventry said IOC members felt the experience of already decided future hosts needed to be studied before proceeding on future proposals. 'So there was a lot of discussion on when is the appropriate time to elect a future host. And also how we should be selecting a future host,' she added. The IOC had earlier said that the number of countries interested in hosting the 2036 Summer Games was in 'double digits'. Apart from India, Qatar, Indonesia, Turkey and Germany are some of the other countries eyeing to stage the edition. Last October, IOA president PT Usha formally sent a letter — drafted in consultation with the government and with the help of international experts — to the world body declaring its 'intent to host the Olympic and Paralympic Games in Bharat (India)'. The IOA highlighted the country's religious and cultural diversity, the impact on the South Asian region and a message of peace to the 'world at a time when it is needed the most' as key themes in its pitch. Following the letter, India had moved to the 'continuous dialogue' phase under the procedure that is now under review. The country's officials had multiple meetings with the Future Host Commission and the visit to Lausanne next week was seen as another important step. The eight-member Indian delegation comprises Gujarat home and sports Minister Harsh Sanghavi, PT Usha, union sports secretary Hari Ranjan Rao, principal secretary of Gujarat's Urban Development Department Ashwini Kumar, principal secretary of Gujarat sports department M Thennarasan, Ahmedabad Municipal Commissioner Banchhanidhi Panim, IOA CEO Raghuram Iyer and Usha's executive assistant Ajay Narang. India has yet to officially name a host city. And while Delhi Chief Minister Rekha Gupta recently expressed interest in hosting the Games, there is little doubt that Ahmedabad will remain central to the project, given the presence of Gujarat government officials in the Indian delegation to the IOC headquarters. The state government is in the process of constructing two main venue clusters for the Games — the Sardar Vallabhbhai Patel (SVP) Sports Enclave, a 355-acre area adjacent to the Narendra Modi Stadium in Motera, and Karai Sports Hub, with a 'site area of 143 acres, augmented by reclaimed riverfront.' Last December, the Gujarat Sports Infrastructure Development Corporation Limited floated tenders inviting bids to appoint consultants for developing these two projects. According to the tender document, SVP will include the Narendra Modi Stadium, a multi-purpose indoor arena, aquatics and tennis centres as permanent venues while 'for the duration of the Games, the enclave will also feature temporary venues' for volleyball, 3×3 basketball, sports climbing and urban sports. Athletics will be held at Karai, where a 35,000-seater stadium will be constructed with the scope of additional temporary seating during the Games. The Karai Police Academy will house the shooting complex.
