Sri Lanka: Latest News

Colombo (News 1st) – The Stein Studios in Sri Lanka, one of South Asia's largest studio complex's, dedicated one of its' four international studios to legendary filmmaker and actor Gamini Fonseka on Friday (24). The studio in which the international franchise show 'Who Wants To Be A Millionaire' ('Lakshapathi' in Sinhala) is recorded, is now called The Gamini Fonseka Studio.All of Sri Lanka's most legendary actors, actresses and cinema personalities were present at the event on Friday as a mark of respect for the late Gamini Fonseka.Widely regarded as the King of Sri Lankan cinema, Fonseka dominated the silver screen in 1960s and 1970s. Apart from acting, he was the Deputy Speaker of Sri Lanka Parliament from 1989 to 1994 and Governor of the North-Eastern Province from 1995 to 1998.In addition to being Sri Lanka's premier television production centre, the ultra modern Stein Studios, which is located in Ratmalana (a suburb in the Colombo district), is also one of the most preferred options for conventions in Sri Lanka and internationally.

Minister of Foreign Affairs Ali Sabry is on a working visit to South Africa from 21-25 March 2023 at the invitation of Minister of International Relations and Cooperation of South Africa Dr. Naledi Pandoor.  Minister Sabry is accompanied by Minister of Justice, Prison Affairs and Constitutional Reforms Dr.

COLOMBO (News 1st); The Bar Association of Sri Lanka in a letter to the Inspector General of Police had requested that Sri Lanka Police take necessary action to ensure the safety of the President of the BASL Saliya Pieris.The letter to the IGP relates to the protest that took pace opposite the chamber of Saliya Pieris, President of the Bar Association of Sri Lanka.BASL said that it was made aware the said protest relates to Mr. Pieris conducting his professional duties with regard to a particular client. "We are of the view the said protest seriously hinders his right to represent a client, a professional right which has been safeguarded by law," it added."Therefore, we strongly demand that you take action to ensure that Mr.

COLOMBO (News 1st); The body of a seven-year-old girl who was reported missing after attempting to cross a water-way in the Bogoda Village in Hali-Ela was recovered.A search operation is underway to locate a ten-year-old boy who also remains missing. The unfortunate incident of two young children being washed away by strong currents while attempting to cross a water-way was reported on Thursday (23).According to reports, the two children were looking for their mother, who had gone to work.The mother was serving as a domestic aide for a daily wage, and she was employed at a neighboring house at the time.However, as she was late to come back home, the two children had gone out in search of her during a heavy downpour.Unfortunately, they were washed away by the currents when attempting to cross a water-way named the Pihilla Kandura not far from their home.Locals said that the currents reached dangerous levels due to the heavy downpour.The mother of the two children had returned home at around 5 in the evening, and as her children were missing, she had gone out in search of them.Locals banded together and started to search for the missing kids with their mother,The umbrella used by the children was located close to the water-way, and it was suspected that they may have been washed away by the gushing waters.Sri Lanka Police and the Sri Lanka Army launched an extensive search and recovered the body of the seven-year-old girl at around 10 PM on Thursday (23), around one kilometer away from the house in another waterway, locally referred to as the Dodangolla Oya.

COLOMBO (News 1st); Sri Lanka's Central Bank Governor Dr. Nandalal Weerasinghe had noted that if Sri Lanka's debt is not restructured, Sri Lanka would have had a foreign debt burden of 06 billion dollars per year for many years to come. "Because it is difficult to pay, the debt payment is temporarily suspended and this process is used to restructure the debt," he told a meeting at the President's Office on Thursday (22)."We are unable to pay under the current terms, so we are asking the commercial institutions and private sectors and the respective governments that have granted us loans, to give us a relief period," he had noted, said the President's Media Division.The PMD also quoted the Central Bank Governor as saying that the first step in that process is the assurance given by the bilateral countries, and the International Monetary Fund has set targets for debt sustainability.

President Ranil Wickremesinghe said that the necessary steps will be taken to pass the best anti-Corruption Act in South Asia in Parliament soon.The President revealed that the cabinet approval for the Bill has already been granted and said that he will discuss it with the Opposition representatives in the future and present it to the Parliament.President Ranil Wickremesinghe said this during a discussion held at the Presidential Secretariat on Thursday (23) with the heads of media organizations.The President's Media Division released the comments made by the President:"Firstly, let me thank everyone of the media for your presence here today. As you know I have requested all of you to be present here to tell you about the IMF agreement.We became a bankrupt country a year ago. This is the first time we have had to restructure our debt with the support of the IMF and our creditors.And this is the first occasion we’ve had to restructure our debt with the support of IMF and our creditors.

COLOMBO (News 1st); Several leaders of opposition political parties in Sri Lanka led by Opposition Leader Sajith Premadasa met with Ambassadors and Delegates representing 12 countries in Colombo on Wednesday (22) evening.According to reports, the objective of the meeting was to discuss the current state of affairs in Sri Lanka.The discussion was mainly focused on Sri Lanka's Democracy, Constitution, and the Local Government Election.The Opposition Leader had requested the foreign missions to extend support to Sri Lanka Internationally.The foreign diplomats who attended the meeting, according to the office of the opposition leader, were:– Sarah Hulton, High Commissioner, High Commission of the United Kingdom in Sri Lanka– Denis Chaibi, Ambassador, Delegation of the European Union in Sri Lanka– Michael Appleton, High Commissioner, New Zealand High Commission in Sri Lanka– Julie J Chung, Ambassador, Embassy of the United States of America in Sri Lanka– Anouk Baron, Deputy Ambassador, Embassy of the Kingdom of the Netherlands in Sri Lanka– Dr Francesco Perale, Deputy Head of Mission, Embassy of Italy in Sri Lanka  – Vinod Jacob, Deputy High Commissioner, High Commission of the Republic of India in Sri Lanka– Katsuki Kotaro, Minister/Deputy Head of Mission, Embassy of Japan in Sri Lanka– Lalita Kapur, Deputy High Commissioner, Australian High Commission in Sri Lanka– Aurélien MAILLET, Deputy Head of Mission, Embassy of France in Sri Lanka– Daniel Blood, Counsellor (Political), High Commission of Canada in Sri Lanka– Ozaki Takeshi, First Secretary, Embassy of Japan in Sri Lanka.However, in Parliament on Thursday (23), Government Minister Prasanna Ranatunga alleged that the opposition had met with the foreign diplomats to

The first batch of women de-miners of the Army who have completed the internationally-acclaimed Humanitarian De-mining Course of high standards had the privilege of getting their insignia pinned from the Commander of the Army, Lieutenant General Vikum Liyanage after they were invited to the Army HQ on Wednesday (22).Extending his best wishes to those women soldiers, now fully-fledged to undertake overseas UN Peacekeeping Missions, the Army Chief highlighted the significance of their achievement to the Army and the motherland.A group of 3 Lady Officers and 51 female Other Ranks, having undergone the De-mining Course for women soldiers which began in December 2021 under two batches at both Engineers' Brigade Headquarters in Boo Oya and 10 Field Engineers HQ in Mailaddy, Jaffna thus received their insignia from the Commander of the Army during the brief occasion.The De-mining Course, inclusive of field operations drew to a close early this year after they sat for the final examination phase under the close supervision of Major General MK Jayawardena RSP USP ndu, Chief Field Engineer and Colonel Commandant, Sri Lanka Engineers.The Commander of the Army in his brief talk commended their sustained courage for completion of the Humanitarian De-mining Course in keeping with scheduled time frame, and congratulated them for undertaking such a challenge with determination and fearlessness. He also reminded the gathering that their contribution in the future for world peace as women de-miners of Sri Lanka would go into the Army history and keep the national flag flying bringing international admiration.Three Lady Officers and 51 Other Ranks who had graduated in the De-mining Course for women de-miners are currently performing de-

The Sri Lanka Navy conducted a special operation to chase away Indian poaching trawlers from Sri Lankan waters this morning (23rd March 2023).The operation led to the seizure of 2 Indian trawlers with 12 Indian nationals poaching in the Sea of Sri Lanka off Analaitivu and Kovilan, Jaffna.The Navy continues to conduct regular patrols and operations in Sri Lankan waters to curb illegal fishing practices of foreign fishing trawlers.As an extension of these operations, the Northern Naval Command deployed Fast Attack Craft of the 04th Fast Attack Flotilla to chase away a cluster of Indian poaching trawlers, having spotted they were engaging in illegal fishing in Sri Lankan waters off Analaitivu and Kovilan. In this operation, the Navy held 02 Indian poaching trawlers with 12 Indian fishers continuing to remain in Sri Lankan waters.The seized trawlers together with 12 Indian fishermen were brought to the Kankesanthurai harbour and they will be handed over to the Mailadi Fisheries Inspector for onward legal proceedings.In this backdrop, the Sri Lanka Navy is conducting operations to stop illegal fishing by foreign fishermen in the island waters.

The High Commission of the Islamic Republic of Pakistan and the Pakistani community based in Sri Lanka celebrated the 84th National Day of Pakistan to make Pakistan a strong, vibrant and progressive state.On the occasion, the High Commissioner, Maj. General (Retd) Umar Farooq Burki HI (M), added that Pakistan greatly values its relations with Sri Lanka which are based on mutual trust and understanding.

A delegation of 19 Indian Armed Forces officers led by Group Captain Yunus Syed Muzaffar from the 46th Indian Higher Air Command Course conducted at College of Air Warfare, Secunderabad arrived in Sri Lanka as part of Strategic Study Tour from 20-24 March 2023.The visit is focused on interactions with senior defence hierarchy as well as visits to military establishments and industrial organizations to broaden the vision of the trainees.The delegation started their visit by paying homage to the martyrs of Indian Peace Keeping Force at the memorial in Battaramulla followed by interactions with High Commissioner of India,Gopal Baglay, Chief of Defence Staff, General Shavendra Silva, and Air Marshal S.K Pathirana, Commander of Sri Lanka Air Force. The delegation is also scheduled to visit Galle, Hambantota, Diyatalawa, Kandy and Katunayake and interact with various agencies to get deeper insights about Sri Lanka. India’s ‘Neighbourhood First’ Policy seeks to promote institutional linkages between the Armed Forces of India and Sri Lanka.  Such Study Tours help strengthen the existing bonds of camaraderie and enhance people to people connect to achieve regional peace, security and stability. A few members of the delegation, including the head of the delegation, called on the Commander of the Sri Lanka Air Force, Air Marshal Sudarshana Pathirana and symbolic mementos were exchanged to mark the event.

Sri Lankan President Ranil Wickremesinghe said that due to the public sector engaging in business activities, the money that was available for the construction of 100 projects similar to the Mahaweli during the past decades, was destroyed.He noted that in the future, the public sector will stop engaging in business and open it to the private sector to create a free and productive economy.President Wickremesinghe mentioned this at the 71st commemoration ceremony of the late Prime Minister D.S. Senanayake at Independence Square on Wednesday (22).Recalling that D.S.

COLOMBO (News 1st); United State is partnering with Sri Lanka to improve water management to support communities that are facing challenges in accessing clean drinking water.US Ambassador to Sri Lanka Julie Chung, joined Prime Minister Dinesh Gunawardena and Minister Jeewan Thondaman in celebrating World Water Day on Wednesday (22), where she made these remarks."It seems a little ironic to talk about water conservation in a country that annually averages benefits from about 2,000 millimeters of rain. But the reality is this generous gift from nature doesn’t benefit all Sri Lankans as much as it could, with less than half of rural Sri Lankans having access to piped water," said the Ambassdor."That is why I’m so proud that the United States is partnering with Sri Lanka to improve water management.

The Embassy of Sri Lanka to the United States, working in collaboration with renowned American humanitarian donor organizations, has achieved a significant milestone in provision of free medicine and medical supplies to Sri Lanka from July to present date. Eight consignments have already been sent to the Ministry of Health. The total value of the 8 consignments is approximately US Dollars 27 million. At current exchange rate, this is worth nearly Sri Lankan Rupees 10 billion. Sri Lanka’s Ambassador to the United States, Mahinda Samarasinghe, who reached out to US donor organizations last year, has conveyed his heartfelt gratitude to the three donors, Heart to Heart International, Hope Worldwide and Americares for their generosity which has proved timely and potentially lifesaving for hundreds of thousands of Sri Lankans in dire need.The Ambassador intends to continue working with humanitarian organizations and agencies to provide assistance to vulnerable segments of the population.

COLOMBO (News 1st); State Minister Indika Anuruddha commended the efforts made by President Ranil Wickremesinghe during a media briefing convened by the Sri Lanka Podujana Peramuna.He told reporters that it was Basil Rajapaksa who recommended that Wickremesinghe be handed over the task of taking the IMF program forward. "The initial step was taken during the Gotabaya Rajapaksa administration. We had a few people in the Viyath Maga who were dragging the president's feet.

COLOMBO (News 1st); Sri Lanka Police launched an investigation into an incident where a man had attacked an electrician with a sharp weapon in Koralawella, Moratuwa.Sri Lanka Police said that the attacker had taken away the hands of the victim after chopping them off. Sri Lanka Police said the incident took place following a heated exchange of words between two neighboring families at around 7 PM on Tuesday (21) night.The 40-year-old man whose hands were amputated was rushed to the Panadura General Hospital for treatment.CCTV cameras had captured the moment of the attacks, and also the manner in which the attacker walked away with another man's amputated hands.An investigation is underway to locate and arrest the suspect.

COLOMBO (News 1st); The bodies of three young men, who were reported missing after going for a swim in the Ellewala Falls in Wellawaya, were recovered on Wednesday (22) morning by Sri Lanka Navy divers. A group of ten young men from Kalmunai on an excursion has decided to go for a swim at the Ella-Wala Falls in Wellawaya on Tuesday (21).Sri Lanka Police said that one of the men drowned, and three others attempted to rescue him, however, they were swept away by strong currents.The body of one of the missing men was recovered on Tuesday (21) evening.Despite the inclement weather conditions, the local police and villagers launched a search and rescue operation to locate the three other missing, however, their efforts were future.On Wednesday (22), Sri Lanka Navy divers launched a search and recovered the bodies of the three men inside a 13 feet deep hole.The deceased were identified as 20 and 21 years old men from Kalmunakudy, Samanthurai, and Saithamaruthu.Drowning incidents were reported from the Ellewala Falls in Wellawaya in the recent past, and the most recent was reported in February 2022, where three lives were lost.

COLOMBO (News 1st); Sri Lankan President Ranil Wickremesinghe told Parliament on Wednesday (22) that he can only speak with the creditors, both multilateral and bilateral, and the private bondholders only if the Parliament is prepared to accept the IMF report.He urged the house to accept the report, and if there are any issues, it can be discussed with the IMF when the delegation returns to Sri Lanka.However, Opposition Leader Sajith Premadasa noted that the report and the presentation by the President is not means to agree to the program proposed by the IMF."We cannot agree without proper examination and scrutiny, and a proper parliamentary debate," he added while requesting to sit in parliament and listen to the proposals that the opposition puts forward during the debate on the IMF report.He said the opposition is not ready to approve anything without proper examination and scrutiny.However, the President said the house should respond to him by the third week of April whether the parliament would approve the report, so that he could engage in the second round of talks with the IMF.  

The Sri Lanka Navy released 146 sea turtle hatchlings at Panama beach on 21st March 2023, in a bid to save these endangered marine animal.The Commander Southeastern Naval Area, Rear Admiral Kanchana Banagoda was also in attendance on this occasion where the hatchlings were released. As part of the Turtle Conservation Project of the Sri Lanka Navy, the eggs of these hatchlings were conserved at the Turtle Conservation Unit in SLNS Mahanaga.Following the directives of Commander of the Navy, Vice Admiral Priyantha Perera the Navy conducts a Turtle Conservation Project in a bid to save these endangered marine species. The project ensures the conservation of sea turtle eggs and the safe release of hatchlings into the ocean. Apart from the navy-managed Turtle Conservation Centre in Panama area similar initiatives are being conducted in Mirissa, Unawatuna, Hikkaduwa, Balapitiya, Bentota, Moragolla, Panadura, Mount Lavinia, Dehiwala, Wellawatta, Nilaveli, and Pasikuda by the Sri Lanka Coast Guard.The eggs of released sea turtle hatchlings were conserved by the Turtle Conservation Unit at SLNS Mahanaga in the Southeastern Naval Command. Further, the unit has thus far released 14,027 sea turtle hatchlings into the ocean, since its establishment.Moreover, the Sri Lanka Navy and Coast Guard conserved eggs and released 10755 hatchlings into the ocean in 2022.Meanwhile, thus far in 2023 it has sent 5886 hatchlings into their natural habitat.

COLOMBO (News 1st); 51 Sri Lankan expatriates who were subject to various forms of harassment in Kuwait arrived at the Katunayake International Airport on Wednesday (23) morning. The group included 41 females and 10 males.The Sri Lanka Foreign Employment Bureau said they have been in Kuwait for over four years, and had left their employers and were working in other workplaces.The Embassy of Sri Lanka in Kuwait had facilitated their return to Sri Lanka.

COLOMBO (News 1st); Sri Lanka’s High Commissioner to India Milinda Moragoda met with the Minister of Finance and Corporate Affairs of India Smt.

COLOMBO (News 1st); Sri Lanka's President Ranil Wickremesinghe told Parliament that the government will be introducing a serious of reforms after the IMF Executive Board granted approval for a bailout package of the country.Increasing Public Revenue:– Reduce the primary deficit to 2.3% of the GDP by 2025.– Increase the government’s revenue up to 15% of the GDP by 2026 through our measures.– Raised the standard corporate income tax rate to 30% without sectoral tax holidays.– PAYE tax rate was increased from 8% to 15%.– The measures required to reduce the existing tax exemptions on Value Added Tax (VAT) will come into effect by 2025. Further, necessary measures will be taken to remove the simplified VAT system and expedite its reimbursement.–  Steps have also been taken to introduce tax on awards / substitutes and to introduce Estate Duty as a property tax by 2025, while providing an appropriate tax exemption allowance at a minimum.–  Revamping the property tax system and introducing a wealth transfer tax – Introduce a gift and inheritance taxManaging Expenditure:– Increase the allocations provided to cover the expenses through proper management of expenditure.– Adjustments in certain salary scales and pension schemes as part of the impact of inflation within the primary deficit targets.State Enterprises and Energy Cost: – Fuel prices will be determined based on the 2018 Price Formula.

COLOMBO (News 1st); Sri Lankan President Ranil Wickremesinghe said the IMF bailout package has opened a new avenue to create a better future for the youth of the country."We have received an opportunity to uplift our motherland," he told the Parliament on Wednesday (22) adding that the bailout of US $3 Billion will be provided across four years. The President said that an immediate disbursement of US $330 Million was received by Sri Lanka from the IMF, noting immediate facilities to the tune of US $7 Billion will be available from the World Bank and other creditor agencies.

Bloomberg:  Sri Lanka’s bailout by the International Monetary Fund will help the bankrupt nation lower its borrowing costs, thanks in part to a change in how the cash can be used, central bank Governor Nandalal Weerasinghe said, reported Bloomber.

COLOMBO (News 1st); Sri Lankan President Ranil Wickremesinghe tabled the agreement reached with the IMF for a bailout package, in Parliament on Wednesday (22). The President also made a special statement to the house. 

COLOMBO (News 1st); Sri Lankan President Ranil Wickremesinghe is scheduled to make a special statement in Parliament on Wednesday (22).In addition, the President is expected to table the agreement reached with the International Monetary Fund.In a special statement following the approval of the extended credit facility by the Executive Board of the International Monetary Fund (IMF) on Tuesday (21), President Ranil Wickremesinghe emphasized that Sri Lanka is no longer deemed bankrupt by the world.The President further stated that the loan facility serves as an assurance from the international community that Sri Lanka has the capacity to restructure its debt and resume normal transactions.Additionally, the President noted that the government is working to gradually lift import restrictions on essential goods, medicines, and tourism-related goods, as the foreign exchange situation improves.

COLOMBO (News 1st); The body of one young man who was reported missing after going for a swim in the Ella-Wala Falls in Wellawaya was recovered on Tuesday (21) evening.However, three others who had gone with him for a swim remain missing.A group of ten young men had visited the Eella-Wala falls on Tuesday (21) morning for a swim.News 1st correspondents said that four of them were later reported missing.Following a massive search carried out by the locals and Sri Lanka Police, the body of one person was recovered.Search and rescue operations continued until late evening on Tuesday (21) to locate the three other missing men.The victims were identified as residents from Kalmunai.They were between the ages of 20 & 21.Several individuals who had visited this location had drowned earlier, and the most recent incident was reported in February 2022 when three lives were lost.According to locals, around 15 people had died after drowning at the Ella-Wala falls.

COLOMBO (News 1st); The motion to direct the recommendations of the Select Committee, that was appointed to probe the violation of privileges of MPs & Parliament, to the Attorney General, was adopted following a vote in Parliament.When the ruling faction attempted to adopt the motion, Chief Opposition Whip Lakshman Kiriella called for a vote.75 votes were received in favor of the motion, and 43 votes were cast against it.The motion was thus adopted by a majority of 32 votes.The Sri Lanka Podujana Peramuna, United National Party, Ceylon Workers Congress voted in favor.The Samagi Jana Balavegaya, Jathika Jana Balavegaya, Freedom People's Congress, and the Uttara Lanka Sabhagaya voted against it.The Tamil National Alliance, Tamil National People's Front, and MP C.

COLOMBO (News 1st); Sri Lankan President Ranil Wickremesinghe on Tuesday (21) said that Sri Lanka will lift import restrictions gradually after the Executive Board of the IMF approved the country's bailout package."Yesterday, the Executive Board of the International Monetary Fund approved the Extended Fund Facility for Sri Lanka. That approval sends a signal that Sri Lanka has the strength to restructure its debt.

COLOMBO (News 1st); The International Monetary Fund said that Sri Lanka must increase tax revenue in a growth friendly manner. Peter Breuer, the Senior IMF Mission Chief for Sri Lanka, told reporters that the current economic crisis has a number of origins including the governments' inability to meet government spending needs through revenue collection and Sri Lanka is among the countries that collect the least amount of fiscal revenue in the world. He said that Tax Reforms are badly needed to correct the imbalance, and only with appropriate tax receipts will the government be able to fund essential expenditures, and avoid further slashing critically important outlets. "These reforms will also help regain the confidence of the creditors, so that in the future they will once again finance the gap between revenue and expenditure," he said.Peter Breuer further said that it is important that those who can afford it may commence contributions to the financing of necessary government expenditures."The tax package the authorities have introduced including the new tax rate schedule for Personal Income tax helps to meet the objectives. The tax rates proposed under the authorities program are also inline with similar countries who are contributing to Sri Lanka's support package, through the IMF," he said."So it is important to remember that there are many countries who have income levels comparable or may be less than Sri Lanka with much higher tax rates.

COLOMBO (News 1st); The International Monetary Fund on Tuesday (21) said that the Extended Fund Facility (EFF) arrangement for Sri Lanka sets a minimum spending floor by the government on the social safety net program.The International Monetary Fund (IMF) Executive Board on Monday (20) approved SDR 2.286 billion (about US dollars 3 billion) under the Extended Fund Facility (EFF) to support Sri Lanka’s economic policies and reforms.The IMF report on the EFF noted that Social Safety Net (SSN) programs in Sri Lanka are fragmented, with several implementation agencies, which has led to a lack of ownership and widespread inefficiencies in delivery of SSN programs.Masahiro Nozaki, the IMF Mission Chief for Sri Lanka said the EFF program said that Sri Lankan authorities have committed to SSN spending of Rs. 187 billion (0.6 percent of GDP) in 2023.Sri Lanka’s SSN programs monitored under the EFF-supported program comprise the Samurdhi program (largest poverty-targeted cash transfer program in Sri Lanka), as well as assistance to the elderly (over 70 years), allowance for disabled people, and financial support for kidney patients.Masahiro Nozaki highlighted that Sri Lanka's Social Safety Net program suffer from poor targeting."Right now the social safety nets cover about 40% of poorer households, that should be significantly increased and some social safety net spending is going towards relatively rich families.

COLOMBO (News 1st); The International Monetary Fund has emphasized the importance of anti-corruption and governance reforms as a central pillar of the EFF-supported program as they are indispensable to ensure the hard-won gains from the reforms benefit the Sri Lankan people.In a statement issued ahead of the IMF press briefing on Tuesday (21) morning, Peter Breuer, Senior Mission Chief for Sri Lanka & Masahiro Nozaki, Mission Chief for Sri Lanka noted that Sri Lankan authorities have committed to fundamentally improve public financial management and strengthen the anti-corruption legal framework in line with the United Nations Convention against Corruption.The reform program supported under the EFF arrangement is built on strong policy measures and prioritizes:(i) an ambitious revenue-based fiscal consolidation, accompanied by stronger social safety nets, fiscal institutional reforms, and cost-recovery based energy pricing to ensure the state’s ability to support all its essential expenditures;(ii) restoration of public debt sustainability, including through a debt restructuring to ensure stable financing of the government’s operations;(iii) a multi-pronged strategy to restore price stability and rebuild reserves under greater exchange rate flexibility in order to alleviate the burden of inflation, particularly on the poor, to foster an environment of investment and growth, and to ensure Sri Lanka's ability to purchase essential goods from abroad;(iv) policies to safeguard financial sector stability to ensure that the financial sector can play its key role in supporting economic growth; and(v) structural reforms to address corruption vulnerabilities and enhance growth. It is now essential to continue the reform momentum

COLOMBO (News 1st); The International Monetary Fund said that it does not intervene in local election processes.Masahiro Nozaki, IMF Mission Chief for Sri Lanka said that the IMF does not intervene in local election processes.He added that the IMF has never recommended postponing local election in Sri Lanka.

COLOMBO (News 1st); The United States of America has welcomed the approval of Sri Lanka’s IMF package."Great news & an important step on the road toward economic recovery," tweeted US Ambassador to Sri Lanka Julie Chung on Monday (20).She said that the Sri Lankan government will need to continue reforms and conclude debt restructuring agreements to ensure the program – and the economy – stay on track.She noted that structural & lasting reforms that address good governance & transparency are critical to ensure all citizens of Sri Lanka can prosper.IMF Managing Director Kristalina Georgieva also noted that she was very pleased the Executive Board of the IMF had approved about $3 bn of IMF support for Sri Lanka’s economic policies & reforms. She said that it was an important milestone with International Creditors coming together to help to restore debt sustainability. "Crucial to unlock Sri Lanka's growth potential," she added.The International Monetary Fund said that it will enable an immediate disbursement equivalent to about US $ 333 million for Sri Lanka under EFF program, following Executive Board approval on Monday (20).The Executive Board of the International Monetary Fund (IMF) approved today a 48‑month extended arrangement under the Extended Fund Facility (EFF) with an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion).Sri Lanka has been hit hard by a catastrophic economic and humanitarian crisis.

COLOMBO (News 1st); The International Monetary Fund said that it will enable an immediate disbursement equivalent to about US $ 333 million for Sri Lanka under EFF program, following Executive Board approval on Monday (20).The Executive Board of the International Monetary Fund (IMF) approved today a 48‑month extended arrangement under the Extended Fund Facility (EFF) with an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion).Sri Lanka has been hit hard by a catastrophic economic and humanitarian crisis.The economy is facing significant challenges stemming from pre-existing vulnerabilities and policy missteps in the lead up to the crisis, further aggravated by a series of external shocks.The EFF-supported program aims to restore Sri Lanka’s macroeconomic stability and debt sustainability, mitigate the economic impact on the poor and vulnerable, safeguard financial sector stability, and strengthen governance and growth potential. The Executive Board’s decision will enable an immediate disbursement equivalent to SDR 254 million (about US$333 million) and catalyze financial support from other development partners.COLOMBO (News 1st); The International Monetary Fund said that it will enable an immediate disbursement equivalent to about US $ 333 million for Sri Lanka under EFF program, following Executive Board approval on Monday (20).The Executive Board of the International Monetary Fund (IMF) approved today a 48‑month extended arrangement under the Extended Fund Facility (EFF) with an amount of SDR 2.286 billion (395 percent of quota or about US$3 billion).Sri Lanka has been hit hard by a catastrophic economic and humanitarian crisis.The economy is facing significant challenges stemming from pre-existing

COLOMBO (News 1st); The IMF Executive Board approved Sri Lanka’s program under the Extended Fund Facility (EFF) that will enable Sri Lanka to access up to $7 billion in funding, reported the President's Media Division.President Ranil Wickremesinghe has expressed his gratitude for the support of the IMF and other international partners, said the PMD.It added that the President committed to full transparency in all discussions with financial institutions & creditors, & to achieve sustainable levels of debt through prudent fiscal management & an ambitious reform agenda.The IMF program is critical to achieving this vision & will help to improve Sri Lanka's standing in international capital markets, making it an attractive country for investors, talent, & tourists, said the President's Media Division.Earlier this month, Sri Lanka received IMF-compatible financing assurances from its official creditors, including Paris Club members, India and China, allowing the IMF to convene an Executive Board and consider Sri Lanka’s request for a loan.The program is expected to provide much-needed policy space to drive the economy out of the unprecedented challenges and instill confidence amongst all the stakeholders.President Ranil Wickremesinghe welcomed the announcement:“In the 75 years of Sri Lanka’s independence, there has never been a more critical period for ou economic future. Our official creditors have declared their support following continuous and positive engagements over the last few months, and we are pleased that the IMF Executive Board approved our program, enabling Sri Lanka to access up to US$ 7 billion in funding from the IMF and IFIs.

COLOMBO (News 1st); Sri Lanka's Cabinet of Ministers have granted their approval in principle for the divestment of major shareholding in Lanka Hospitals Corporation PLC and Sri Lanka Telecom PLC.Sri Lanka Telecom PLC in a letter to the Colombo Stock Exchange noted that the Treasury Secretary has informed the Board of Directors of SLT that the Cabinet of Minister granted its approval in principle for the divestment of the state held by the Secretary to the Treasury in SLT.It added that the divestment will be implemented by the State-Owned Enterprise Restructuring Unit established under the Ministry of Finance.Lanka Hospitals Corporation PLC informed the Colombo Stock Exchange that the Secretary to the Treasury has conveyed that an 'Approval in Principle' was granted by the Cabinet of Ministers for the divestment of the major shareholding in Lanka Hospitals Corporation PLC.

The Sri Lanka Transport Board (SLTB) has announced a new pilot program that aims to incorporate bus route maps into a geographic information system (GIS). This program will allow SLTB to effectively manage and monitor bus routes and schedules, thereby improving the quality of public transportation services in Sri Lanka. Through this pilot program, bus route maps will be integrated into a GIS, enabling SLTB to have a more accurate and detailed understanding of its transportation network.This will enable SLTB to identify potential issues, such as traffic congestion, and develop solutions to improve the efficiency of bus routes. In addition, the program will provide passengers with a user-friendly map of the SLTB's bus routes and schedules, making it easier for them to plan their journeys and travel more efficiently. The program is expected to provide significant benefits for both passengers and SLTB, by reducing travel time, improving bus scheduling and ultimately increasing the overall quality of public transportation services. A sample of the new pilot project was shared on the SLTB Facebook Page.  

COLOMBO (News 1st); Skipper Dimuth Karunaratna says he is prepared to step down as the Sri Lanka Test Cricket Captain after the test series with Ireland.He was speaking to reporters following Sri Lanka's loss to New Zealand in the Second Test on Monday (20).New Zealand bowled Sri Lanka out for 358 to win the 2nd Test by an innings and 58 runs. The Black Caps won the series 2-0 with Kane Williamson named the Player of the Series. 

COLOMBO (News 1st); According to the World Food Prgoramme, in the face of Sri Lanka’s economic crisis, food insecurity remains at concerning levels.32% of households are food-insecure, according to WFP’s latest Household Food Security Survey for February 2023.Markets continued to report concerns around price volatility in January, according to WFP’s Market Functionality Index. However, markets remain functional and currently have a wide range of products, adequate physical availability of essential goods and a resilient supply chain.WFP plans to assist 3.4 million people through general food distribution, school meals and nutrition support.

Nineteen officers from the three services of the Indian armed forces reached Sri Lanka on Sunday (19).The Officers are on a week-long strategic study tour under the 46th Higher Air Command Course.The delegation consists of selected officers under training for Senior Command and Staff Appointments from the three services.During the visit, the Officers are scheduled to visit and interact with Sri Lankan Naval Command, Coast Guard and Air Force. The visit serves as an opportunity to further strengthen India’s defence partnership with Sri Lanka.

COLOMBO (News 1st); Sri Lanka Police said that 662 grams of high-powered explosive were recovered following the interrogation of  Ravindu Warnaranga also known as 'Booru Moona'.Police Spokesperson SSP Nihal Thalduwa told News 1st that the explosives were found concealed near an electricity post in Hanwella.Ravindu Warnaranga also known as 'Booru Moona', a wanted criminal who escaped police custody and was evading capture, was arrested close to the Court Complex in Avissawella on Friday (17).Police Spokesperson & Attorney SSP Nihal Thalduwa told News 1st that 'Booru Moona' was wanted by authorities for a series of murders and other crimes.‘Booru Moona’ had attempted to fly to Dubai under a false name from the Katunayake Airport on February 24th, and he was arrested by Immigration Officers at the BIA, who then handed him over to the Airport Police.Thereafter, he had escaped police custody and two monks along with another man were arrested by the Katunayake Police for facilitating the escape of the suspect.Moreover, a husband and wife duo who were arrested for providing accommodation to the fugitive ‘Booru Moona’ who escaped while in the custody of the Katunayake Airport Police,  were remanded.‘Booru Moona’ was identified as the shooter by detectives who investigated the incident where a owner of a restaurant was shot dead at point-blank range in Hanwella on December 18th in 2022.The court had granted Sri Lanka Police to detain and interrogate the suspect for a period of 72 hours.

COLOMBO (News 1st); At least five people were injured after heavy rains caused a landslide in the Kabargala Estate in Punagala, Bandarawela.According to reports from News 1st correspondents, the landslide occurred at approximately 9 pm on Sunday (19) near the Kabaragala Estate hospital.Over 30 homes have been damaged, leaving around 200 residents of 60 families without shelter. The Assistant Director of the Disaster Management Center for Badulla District, E.L.E.M.

COLOMBO (News 1st);Sri Lanka's Agriculture Ministry said that 1.2 million local farmers will be given Triple Super Phosphate or TSP Fertilizer free of charge from Monday (20), after three harvesting seasons.The shipment of 36,000 metric tons  Triple Super Phosphate (TSP) was funded by the United States Agency for International Development (USAID) and procured by the Food and Agriculture Organization of the United Nations (FAO) for distribution free-of-charge to farmers.Accordingly, 11,537 MT of TSP fertilizer will be issued to farmers in the Northern, and Eastern Provinces.TSP Fertilizer will be issued via all Agrarian Services Centers in the country.The Ministry of Agriculture said that TSP Fertilizer will be issued to other areas to commence harvesting.According to the ministry, 55 kg of fertilizer is recommended for one hectare of paddy cultivation.More than a million Sri Lankan paddy farmers in all 25 districts will get vital assistance through a shipment of over 36,000 metric tons of fertilizer handed over by the United States to the Ministry of Agriculture. This second shipment of USAID-supported fertilizer is delivered on a promise USAID Administrator Samantha Power made last September in response to Sri Lanka’s food security challenges. It brings the total of USAID-supported TSP and urea fertilizer to more than 45,000MT over the last year.U.S.

PMD: President Ranil Wickremesinghe emphasized that the Royal College cricket team’s effective captaincy ultimately led to the team’s victory at a time when all of the matches were being lost and that his effort is to lift the defeated country to the path of victory similar to what the captain of the Royal College cricket team did.The President recalled that when he assumed office last July, the country was experiencing numerous crises such as shortage of fuel, food, and fertilizer. He compared this to the Royal team, which had suffered a string of defeats, and claimed that many people believed the country would not be able to recover.However, President Ranil Wickremesinghe stressed that his team was able to change that situation and create economic stability in the country in the last seven months and emphasized that Sri Lanka is no longer a bankrupt state.President Ranil Wickremesinghe made this statement while addressing the 32nd Interact District Conference held at Temple Trees on Sunday morning (19).He said that everyone would be able to witness a developing country in the next two years, and to make Sri Lanka the most prosperous country in the region, it is necessary to build the economy in addition to stabilizing it today.The President added that the 25-year plan to make Sri Lanka a successful nation by 2048 has already been implemented and it can only be achieved with the commitment of the current youth.This conference was organized by St.

COLOMBO (News 1st); Over 250 female athletes arrived in Sri Lanka for the challenging 'Raid Amazones' adventure event that will take place in March 2023 in Sri Lanka.Raid Amazones will hit the fabled streets of the hill capital, Kandy with the participation of over 250 female athletes. Raid Amazones is a coveted annual destination adventure event originating from France, which features female athletes competing their way through a range of challenges such as orienteering, mountain biking, canoeing, riding, running and archery. Sri Lanka was chosen over rival destinations by the event’s founders due to the unparalleled warmth of its people and support on ground to pull off a successful event.

COLOMBO (News 1st); The Department of Meteorology has issued a warning of thundershowers across many regions of the island today (20), particularly in the evening and at night.The Western, Sabaragamuwa, Central, Uva, North Central, and Eastern provinces may face heavy downpours of up to 50 mm.In addition, wind speeds are expected to increase to 80 km per hour in the coastal areas from Colombo to Hambantota via Galle and Matara, according to the Department of Meteorology. With these conditions, the fishing and coastal communities are advised to exercise extreme caution and be vigilant while at sea.The general public is urged to monitor weather updates and be prepared for possible disruptions in daily routines.It is essential to follow safety precautions and avoid outdoor activities during periods of heavy rain and strong winds to prevent accidents and injuries, said the Met Department.

Last week, the largest capacity crawler crane in Sri Lanka was unloaded at Hambantota International Port. The crane, with a 750-ton lifting capacity, will be initially used for Hiruras Wind Power Project in Mannar. The German built Liebherr brand crane was being used in Japan and has now been imported to Sri Lanka for civil projects.“HIP has earned itself a name for its RORO capabilities and currently we are aggressively promoting the port’s ability to handle all types of vehicles in the international market. The way this heavy equipment was unloaded at the port is a fine example of HIP’s capability.