News
Banks in crisis due to govt. hoodwinking country on local debt restructuring, says Udaya
The government had agreed to restructure domestic debt after it signed the staff level agreement with IMF representatives, Pivithuru Hela Urumaya (PHU) leader, MP Udaya Gammanpila, said on Thursday, addressing the media in Colombo.
“When the government entered into discussions with the IMF, it insisted that it wouldn’t restructure domestic debt. We were told that the staff-level agreement, signed in September 2022, had no reference to domestic debt restructuring. But now the government insists that restructuring domestic debt is a precondition to restructure foreign debt. We were not shown the staff-level agreement, even though the government insisted that all documents with the IMF had been presented to Parliament. Why is this document still a secret? According to our sources, the government has agreed to restructure domestic debt, after it signed the staff-level agreement,” he said.
Gammanpila said that the document, the government presented to Parliament, was not the staff-level agreement. However, even that had vague references to restructuring domestic debt.
“Page 17 of the document given to us has this phrase: ‘The authorities and their financial advisors are weighing different options and their associated legal procedures to optimise the design of a Local Law Local Currency debt treatment while preserving financial stability.’ Instead of the word ‘restructure’, they use the word ‘optimise.’ Whom are they trying to fool? Now, all the bankers are freaking out because they don’t know how the government will go about restructuring domestic debt. They have not been consulted or their concerns noted,” he said.
The PHU leader said that local commercial banks had given large loans to the government. From 2019, the banking sector has been facing continuous crises, he said.
“A number of moratoriums were given. Due to the economic crisis, there are a lot of non-performing loans, too. According to the IMF, the loans given by commercial banks to the government is about 40 percent of total banking assets. Everything hangs in the balance. It would be ideal if the government could avoid restructuring domestic debt. But if it must, it must only be done following a serious discussion with all stakeholders,’ he said. (RK)
High Commissioner of the Islamic Republic of Pakistan to Sri Lanka Major General (Retd) Nayyar Naseer met with the Prime Minister Dr. Harini Amarasuriya at Temple Trees on 30th April
Welcoming the High Commissioner of the Islamic Republic of Pakistan to Sri Lanka, the Prime Minister expressed sincere appreciation for the continued support and cooperation extended by the Government of Pakistan to Sri Lanka, particularly the assistance provided following the Ditwah Cyclone.
Both sides reaffirmed the longstanding and cordial relations between Sri Lanka and Pakistan, which are founded on mutual respect, friendship, and shared interests.
The meeting also focused on the importance of further strengthening collaboration in key sectors such as education, tourism, and sports, with a view to enhancing people-to-people ties and creating new opportunities for cooperation reiterating Sri Lanka’s commitment to deepening bilateral engagement.
The meeting was attended by the Deputy High Commissioner of Pakistan to Sri Lanka Ms. Zunaira Latif, Secretary to the Prime Minister, Pradeep Saputhanthri, Additional Secretary Ms. Sagarika Bogahawatta, and officials from the Ministry of Foreign Affairs, Foreign Employment and Tourism.
(Prime Minister’s Media Division)
The Ambassador of Nepal to SriLanka, Dr. Purna Bahadurn Nepali paid a farewell courtesy call on Prime Minister Dr. Harini Amarasuriya on Thursday (30th of April) at Temple Trees.
During the meeting, the Prime Minister conveyed sincere appreciation for the dedicated service and valuable contributions towards strengthening the longstanding bilateral relations between Sri Lanka and Nepal during the tenure of Dr. Purna Bahadurn Nepali.
Both parties reaffirmed the longstanding bilateral relations between the two countries, which are based on shared cultural, religious, and historical linkages. The Prime Minister also reaffirmed Sri Lanka’s commitment to further deepening bilateral relations with Nepal and enhancing cooperation for the mutual benefit of both nations.
The meeting was attended by the Secretary to the Prime Minister, Pradeep Saputhanthri, Additional Secretary Ms. Sagarika Bogahawatta, and officials from the Ministry of Foreign Affairs, Foreign Employment and Tourism.
(Prime Minister’s Media Division)
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Heat Index at Caution Level in the Northern, North-central, Eastern, Sabaragamuwa, North-western provinces and in Monaragala district during the day time
Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre
Issued at 3.30 p.m. on 01 May 2026, valid for 02 May 2026.
The Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in the Northern, North-central, Eastern, Sabaragamuwa, North-western provinces and in Monaragala district during the day time.
The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.
Effect of the heat index on the human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.
ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.
Dress: Wear lightweight and white or light-colored clothing.
Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.
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Pakistan High Commissioner pays courtsey call on PM
Ambassador of Nepal to Sri Lanka pays farewll call on PM
Heat Index at Caution Level in the Northern, North-central, Eastern, Sabaragamuwa, North-western provinces and in Monaragala district during the day time
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