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Sri Lanka is committed to meeting all its debt repayments and is hoping to complete debt restructuring negotiations in the next six months, the country's central bank chief P. Nandalal Weerasinghe said on Tuesday.

"There has been good progress this month with India already pledging financing assurances. We expect assurances from China and Japan soon," Weerasinghe said at an event titled "Economic Outlook 2023".

The island nation of 22 million people has grappled with challenges during the past year ranging from a shortage of foreign currency to runaway inflation and a steep recession - the worst such crisis since independence from Britain in 1948.

Sri Lanka is racing to secure a $2.9 billion bailout from the International Monetary Fund (IMF) but requires the backing of both China and India, its biggest bilateral creditors, to reach a final agreement with the global lender.

India last week told the IMF that it strongly supports Sri Lanka's debt restructuring plan.

"Once the IMF program is unlocked then we will start specific debt restructuring negotiations with both commercial and bilateral lenders," the head of the apex bank said.

"We hope to complete this process in six months. The biggest uncertainty is the timeframe for the debt restructuring. It is only after debt sustainability is assured can Sri Lanka return to a sustainable growth path," he added.

Weerasinghe added that good progress has been made in negotiations with the Paris Club creditor nations and other creditors.

On the domestic front, talks with local banks to reduce rates were ongoing but restructuring of domestic debt remains an uncertainty, he said.

On a separate note, Weerasinghe said Sri Lanka's inflation would reduce at a faster pace in 2023 and expects it to reach single digits by end of 2023.

The central bank is aiming to bring down interest rates in line with inflation expectations and the process would be fast-tracked once the IMF programme is unlocked, he added.

Sri Lanka's National Consumer Price Index (NCPI) (LKNCPI=ECI) eased year-on-year to 59.2% in December, after a 65% rise in November, data on Monday showed. (Reuters)

Thailand received 11.15 million foreign visitors in 2022, a surge from just about 428,000 the previous year when broad pandemic-related travel curbs were in place, tourism ministry data showed on Tuesday.

The figures, which beat the government's target, reflect a solid turnaround as Thailand tries to revive its vital tourism industry, which bore the brunt of its strict entry and quarantine policies during the pandemic.

In December, there were 2.24 million foreign tourists, compared with 230,497 in the same month a year earlier.

Pre-pandemic 2019 saw a record of nearly 40 million foreign tourists for the full year.

Malaysia, India and Singapore were Thailand's top three source markets last year, the ministry said.

In 2023, the government is expecting 25 million international visitors, including at least five million from China, Thailand's biggest source market before the pandemic.

The government on Tuesday approved a budget of 3.95 billion baht ($120.72 million) to boost domestic travel and international tourism in secondary cities.

China's reopening is expected to further boost Thailand's vital tourism sector, which before the pandemic accounted for about 12% of gross domestic product in Southeast Asia's second-largest economy. (Reuters)

Jacinda Ardern on Tuesday bid an emotional farewell on her last day as prime minister, speaking of the kindness and empathy New Zealanders have shown her, but said she was ready to be a sister and a mother.

Days after stunning the world by announcing she had "no more in the tank" to lead the country and would step down, the 42-year-old arrived at a gathering of politicians and Maori elders in the small town of Ratana, north of the capital Wellington, and was instantly surrounded by supporters seeking photographs.

"Thank you from the bottom of my heart for the greatest privilege of my life," Ardern told the gathering in a speech.

She will resign on Wednesday and be replaced by the new Labour party leader, Chris Hipkins.

Ardern, along with Hipkins and opposition politicians, were making an annual visit to Ratana, where a weeklong celebration is held for the birth of Maori prophet Tahupotiki Wiremu Ratana.

Wearing a black dress with her shoulders covered in a traditional Maori cloak, called korowai, she led members of her party onto the community grounds as a brass band played. The speeches and accompanying songs and dances that followed saw elders speak with humour and warmth about Ardern.

"Thanks so much for teaching us to love quickly," one elder told Ardern.

Ardern responded, saying she that hadn't planned to speak but that those there refused to give her an out.

"My overall experience in this job of New Zealand and New Zealanders in this job has been one of love, empathy and kindness,” she said.

The left-leaning global icon gained attention for bringing her baby to a United Nations meeting and wearing a hijab after a massacre targeting Muslims. Although she became a target for hate and online abuse by right-wing extremists on social media, she said she was leaving the job with love in her heart.

"I want you to know I leave with a greater love and affection for Aotearoa New Zealand and its people than when I started."

Before heading onto the grounds, Ardern faced the media for possibly the last time as prime minister, smiling broadly as declining to answer political questions, saying they were now the responsibility of her successor.

"I am ready to be lots of things. I’m ready to be a back bench MP (member of parliament). I’m ready to be a sister and a mum,” she said.

Her daughter Neve is 4 years old and starts school in June.

Hipkins, the country's former COVID minister, was the only person nominated to take over as Labour Party leader. He was first elected to parliament in 2008. (Reuters)

India has committed to help ease the debt burden of its crisis-stricken neighbor Sri Lanka as part of a possible International Monetary Fund-supported program, the IMF said on Monday.

The island nation of 22 million people has grappled with challenges during the past year ranging from a shortage of foreign currency to runaway inflation and a steep recession - the worst such crisis since independence from Britain in 1948.

Reuters reported last week that India had told the IMF it strongly supports Sri Lanka's debt restructuring plan as the island seeks a $2.9 billion loan from the global lender, according to a letter.

"Sri Lanka is engaged with other official bilateral creditors to obtain similar assurances," an IMF spokesperson said in a statement on Monday.

"As soon as adequate assurances are obtained and remaining requirements are met, including by the Sri Lankan authorities, a Fund-supported program for Sri Lanka can be presented to the IMF's Executive Board for approval that would unlock much needed financing."

Sri Lanka requires the backing of China and India - its biggest bilateral lenders - to reach a final agreement with the IMF that is essential to help the country emerge from its worst financial crisis in seven decades. (Reuters)