Connect with us

News

IMF applauds the country’s significant progress in implementing economic reforms

Published

on

During a meeting between President Ranil Wickremesinghe, Sri Lankan authorities and the International Monetary Fund (IMF) on Thursday (11), the IMF congratulated the country on completing the first review under its program. The IMF highlighted the positive start of the program, recognizing the challenging reforms undertaken by Sri Lanka and their significant impact on the domestic population. Directors at the executive board meeting applauded Sri Lanka’s courage in publishing the governance diagnostic, a pioneering effort in Asia.

Senior Mission Chief for Sri Lanka, Peter Breuer noted that encouraging signs were noted regarding the program’s impact on stabilizing the economy, particularly in policy-oriented variables and fiscal areas. A recent meeting revealed promising revenue collection, indicating the effectiveness of implemented policies since reaching a staff level agreement in the second half of 2022.

Mr. Peter Breuer told President Wickremesinghe, “With respect to revenue collection, in fact, we had a meeting that showed very encouraging numbers that basically highlight that the policies you implemented beginning from after we reached the staff level agreement in the second half of 2022 are working, that they have the intended effect, that you’re collecting the revenue that’s needed to address the cause of the crisis. So, that really is very good news.”

The board meeting recognized Sri Lanka’s success in reducing inflation significantly, attributing it to the government’s efforts in monetary policy and scaling back monetary financing. Positive outcomes, such as an increase in reserves, were also observed. The ongoing governance reforms were acknowledged as positive indicators, contributing to tentative economic growth in the third quarter, particularly in capital formation and machinery.

As the IMF plans its upcoming formal review and Article 4 consultation, key areas of focus include the new public financial management law, potential conflicts with the public-private partnership law, electricity tariffs and urgent preparations for property taxation. The IMF stressed the importance of perseverance with ongoing reforms, addressing fiscal issues and advancing governance agendas.

The meeting also highlighted the urgency of addressing fiscal matters, including passing amendments to the Banking Act and recapitalizing the banking sector.

On the governance front, operationalizing the Anti-Corruption Commission, publishing action plans and meeting with the Constitutional Council for insights into commissioner selection processes were discussed.

The IMF commended Sri Lanka’s partnership on capacity development, emphasizing the importance of enhancing the skills of the civil service for the success of ongoing reforms. The program aims to build capacity in the civil service, crucial for the implementation of reforms.

The authorities expressed approval for the program and discussions on its rollout and impact will continue in the coming weeks.

As the two-week mission unfolds, further discussions between Sri Lankan authorities and the IMF are expected to delve deeper into these key areas, providing a comprehensive overview of the progress and challenges in Sri Lanka’s economic reform journey.

(PMD)



News

Athapaththu and Dilhari muscle Sri Lanka past Malaysia in mismatch

Published

on

By

Kavisha Dilhari scored a quick unbeaten 44 and then picked up two wickets [Asian Cricket Council]

The quarter-finals of the Asian Games women’s competition, putting top-notch teams against teams without much experience of playing at the highest level, were expected to be mismatches. It took till the third game – Bangladesh vs China was washed out and Thailand gave Pakistan a fright for a proper one-side affair, though, as Sri Lanka bashed 160 after opting to bat, and their bowlers then stopped Malaysia 86 runs short.

Fresh off their appearance in the final of the Women’s T20 Asia Cup, Sri Lanka were always expected to dominate, but it didn’t quite start the way they wanted, with Imesha Dulani run out for another low score in the third over – she hasn’t topped 25 in eight innings since her century against Pakistan on July 31.

Chamari Athapaththu,  however, stitched together an 80-run stand off just 53 balls with Hasini Perera for the second wicket, scoring 56 runs in 27 balls to Perera’s 23 in 26 in the collaboration. After the two batters fell, Kavisha Dilhari played a similar role to Athapaththu in the stand with Harshitha Samarawickrama, scoring 36 in 19 in a stand worth 62 in 37 balls.

Athapaththu top-scored with 63 in 37 balls, while Dilhari’s unbeaten 44 came off just 27 balls. For Malaysia, offspinner Nurin Imanina impressed with 3 for 29 from her four overs, picking up all the wickets to fall to bowlers.

In reply, Malaysia were three down inside the powerplay, with Dilhari picking up two of the wickets to fall on her way to returns of 2 for 4 from three overs. Athapaththu chipped in with two wickets of her own to finish with 2 for 3 from two overs, while Mithali Ayodhya got 2 for 15 from three.

It’s not like there was no resistance from Malaysia: Winifred Duraisingam scored 28, though it took her 47 balls to do it, while Mahirah Izzati Ismail scored 24, another slow effort, taking her 42 balls.

Scores:
Sri Lanka Women  160 for 4 in 20 overs  (Athapaththu 63, HasinMithali Ayodhya 2-15i Perera 23, Kavisha  Dilhari 44*, Harshitha Samarawickrema 25; Nurin Imanina 3-29) beat Malaysia Women 74 for 7 in 20 overs (Winifred Duraisingam 28, Mahirah Izzati Ismail 24; Mithali Ayodhya 2-15, Kavisha Dilhari 2-04, Chamari Athapaththu 2-03, ) by 86 runs

[Cricinfo]

Continue Reading

News

Bid for Basil’s extradition nears final stage: Police

Published

on

Basil Rajapaksa

Govt. is finalising extradition proceedings against Basil to have him stand trial here in respect of several cases

By Norman Palihawadane

The process of having former Minister Basil Rajapaksa extradited from the US to Sri Lanka was being finalised, Police Headquarters sources disclosed yesterday.

The government has formally sought assistance from the United States government to extradite former Minister Basil Rajapaksa, as multiple courts have reissued arrest warrants over his failure to appear before them in connection with two separate criminal cases, a senior police officer told The Island.

The officer, speaking on condition of anonymity, said matters pertaining to obtaining US government authorities’ assistance to extradite Rajapaksa were now being finalised.

Police headquarters sources said law enforcement agencies were currently evaluating red notices, which request the location and provisional arrest of a person pending formal extradition.

The CID and Police Headquarters earlier initiated steps to seek INTERPOL assistance to secure Rajapaksa’s return to Sri Lanka to face court proceedings relating to the two cases in which arrest warrants have been issued against him.

Rajapaksa is believed to be residing in Los Angeles, United States.

The Matara Chief Magistrate’s Court on July 21, 2026, reissued an arrest warrant for Rajapaksa after he failed to appear before court for the second time in connection with a case involving the alleged purchase of a 1.5-acre coconut estate on Eliyakanda Road in the Brown’s Hill area of Matara.

The case relates to the purchase of the property for Rs. 60 million.

The case was filed by the Police Financial Crimes Investigation Division and names Basil Rajapaksa and several other accused, including Ayoma Galappaththi, identified in court reports as the sister of Rajapaksa’s wife, Tissa Galappaththi, and Muditha Jayakody.

However, officials acknowledged that seeking US assistance would only begin a formal international process and would not automatically result in Rajapaksa’s arrest or return to Sri Lanka. Sri Lankan authorities would need to submit court orders, details of the alleged offences, and other supporting documents through the appropriate diplomatic and judicial channels. Any request would then be considered by the relevant US authorities under American law and applicable legal arrangements.

Sources at the Foreign Ministry said sealed correspondence had been exchanged between Sri Lanka’s Ministry of Foreign Affairs and the Legal Department of the US State Department relating to corruption allegations against members of the Rajapaksa family residing in the United States.

The legal foundation for any extradition is the bilateral treaty between Sri Lanka and the United States signed in Washington on September 30, 1999. The treaty applies the principle of dual criminality, meaning authorities must show that the underlying conduct amounts to a crime in both countries. Rajapaksa’s status as a United States citizen would not, on its own, make him immune from a valid request under the treaty’s provisions.

Continue Reading

News

High blood pressure, diabetes lead to about 80% of deaths in Sri Lanka

Published

on

Non-communicable diseases (NCDs) account for 80% of all deaths in Sri Lanka, with high blood pressure and diabetes among the leading causes, Secretary to the Ministry of Health and Mass Media, Dr. Anil Jasinghe, said early this week.

Dr. Jasinghe pointed out that the two conditions were interrelated and could lead to a range of serious health complications, with heart attacks being among the most severe consequences.

Dr. Jasinghe made these remarks while attending the commencement of construction of a modern Cardiac Care Complex at the Anuradhapura Teaching Hospital on Wednesday (16).

The Health and Mass Media Ministry Secretary said:

“The main issue is that these two diseases are interconnected and cause a range of complications in a person’s health. Looking at the current situation in Sri Lanka, only around 50% of those suffering from high blood pressure are under effective control. Similarly, only around 25% of diabetic patients are under proper control. As a result, this has now become a major problem in society.

“The most serious complication associated with both these diseases is Myocardial Infarction (MI), or a heart attack. This has also become the

leading complication. So, how do we control this modern epidemic? This is the biggest challenge before us.

“While establishing modern facilities across the country, our health system must also recognize the changes that have taken place in the demographic structure of our population and disease patterns. Accordingly, our health system must be adapted to suit these changing circumstances.

“Under the policies of the government led by the President and the guidance of the Minister of Health, the Ministry of Health and Mass Media is currently implementing a major programme in this regard. Its three main components are Arogya, Cluster Systems and High-End Care Institutions, which need to be developed to suit the requirements of our health system.”

Continue Reading

Trending