Sri Lanka has made significant progress in its debt restructuring efforts, finalizing a key agreement in September 2024 with international sovereign bondholders (ISBs) and bilateral creditors, including China, India, and Japan. This agreement marks a crucial step in the country’s economic recovery following its 2022 sovereign default and the subsequent economic crisis. International Sovereign Bonds…
A high-level delegation from the International Monetary Fund (IMF) arrived in Sri Lanka to engage with the newly formed government led by President Anura Kumara Dissanayake. The primary objective of the visit was to initiate discussions on the progress of the IMF Program and necessary steps towards the release of the fourth tranche of the…
The Chief Representative of the Japan International Cooperation Agency (JICA), Yamada Tetsuya, along with a delegation of senior representatives, met with the Secretary to the President Dr. Nandika Sanath Kumanayake, At the Presidential Secretariat. The discussion focused on the second phase of the Bandaranaike International Airport (BIA) Development Project, implemented by JICA, and the immediate…
Sri Lanka is set to host two significant diplomatic engagements this week, marking the first high-level interactions with newly elected President Anura Kumara Dissanayake. Indian External Affairs Minister, S. Jaishankar, will visit Colombo for the first high-level engagement between India and Sri Lanka following President Dissanayake’s election. This visit is crucial for reaffirming India’s commitment…
Sri Lanka is at a historic juncture. Faced with its worst economic crisis since the Great Depression and having defaulted on its external debt for the first time, the country recently saw unprecedented protests demanding systemic change. The former president Gotabaya Rajapaksa was literally chased away in 2022, as protesters stormed his residence and swam…
The East Coast Sea Aborigines are a marginalized group living along the coastline from Muthur in Trincomalee to Vakarai in Batticaloa. Following military conflicts in the area, particularly the Mavilaru humanitarian operation in 2006, many people from villages, including Santhoshpuram, were forced to leave. When they returned in 2009, the government allocated 200 acres of…
President Ranil Wickremesinghe has announced that IMF representatives are scheduled to visit Sri Lanka in two weeks to disburse the next instalment of funds, as outlined in the agreement between the Sri Lankan government and the International Monetary Fund. The President emphasised that on September 21, the public will have to decide whether to approve…
Sri Lanka Customs has refuted a claim made by NPP Presidential Candidate Anura Kumara Dissanayake, who alleged that the department has an outstanding tax arrear of 1.1 trillion rupees. According to the Customs Department, the actual amount of outstanding taxes is 58 billion rupees. Customs officials clarified that the 58 billion rupees in tax arrears…
Justice Minister M.U.M. Ali Sabry announced that the government has gazetted a new law aimed at recovering assets acquired through criminal activities. This legislation will empower authorities to pursue legal action against individuals holding unlawfully obtained wealth and enforce stricter measures against corruption. The minister highlighted the Anti-Corruption Act No. 19 of 2013, which was…
The International Monetary Fund (IMF) emphasized that Sri Lanka’s upcoming presidential elections are for the people to decide. During a press briefing, Julie Kozack, the IMF’s Spokesperson, explained that discussions on the next review of Sri Lanka’s economic program will take place after the elections, once a new government is in place. Kozack reiterated that…
