News
IMF Senior Mission Chief upbeat about Lanka’s prospects under their programme
International Monetary Fund Senior Mission Chief for Sri Lanka, Peter Breuer, has commended Sri Lanka’s economic recovery in recent years, stating that as economic opportunities return to Sri Lanka, income will increase and poverty decrease, making it more attractive for the people to remain in Sri Lanka.
Speaking at a press conference on the IMF Executive Board’s completion of the third review of Sri Lanka’s Extended Fund Facility (EFF) programme, the IMF Senior Mission Chief stated that Sri Lanka’s reserves have increased significantly so far under the EFF programme.
“They have reached about half of the programme objectives already which is very impressive”, Breuer said.
He said: “I think it’s quite clear that things really have turned around significantly in Sri Lanka. When I first got to Sri Lanka in June 2022 everybody was on a line somewhere to get fuel, to get cooking gas, get food or medication. Economic activity was very subdued. I think in real terms Sri Lanka lost around 10% of its economic activity as a result of this crisis.”
“Since then in the short amount of time that the programme has been there, basically since 2023, it has already recovered 40% of the income it lost in the preceding five years. In a short amount of time Sri Lanka already had a very significant recovery – the most recent growth number was 5.5%. So I think things are turning around significantly in Sri Lanka and that will have an impact on the indicators that we care about, such as poverty.”
“As economic opportunities return to Sri Lanka, income will be increased and poverty will be reduced. Also, it will be more attractive to remain in Sri Lanka, not leave or emigrate. Those who have emigrated will find opportunities back in Sri Lanka”, Breuer said.
It has been reported that former Minister Mervyn Silva has been arrested by the Criminal Investigation Department (CID).
The Pakistan Navy Ship (PNS) Aslat arrived at the Port of Colombo on a goodwill visit this morning (05 Mar 25).
The visiting ship was welcomed by the Sri Lanka Navy in compliance
with naval traditions.
PNS ASLAT is a 123m long Frigate (FFG) commanded by Captain Muhammad Azhar Akram and is manned by a crew of 243.
During the ship’s stay in Colombo, its crew members will explore several of the city’s popular tourist destinations.
Wrapping up its visit, PNS Aslat is scheduled to depart the island on 06 Mar. As it sets sail, the vessel will engage in a Passage Exercise (PASSEX) with a Sri Lanka Navy ship in the waters off Colombo.
by Rathindra Kuruwita
The government has received information that an extremist group is operating in Kalmunai, in the Eastern Province, says Cabinet spokesman and Minister Nalinda Jayatissa.Security forces and intelligence agencies are uncovering information on this group, he has said.
“Addressing the Parliament last week President Anura Kumara Dissanayake revealed some information about this group and the security forces are keeping an eye on the activities of this group,” Minister Jayatissa said, adding that the government would not allow any extremism or racism in any part of the country.
Minister Jayatissa said so in response to a question posed by a journalist about a statement made by Minister of Public Security and Parliamentary Affairs Minister Ananda Wijepala, who said there was an extremist group operating in Kalmunai, in the Eastern Province.
“At this moment, we have only received information about such a group operating in the Eastern Province. Intelligence and security agencies are in the process of verifying and investigating the matter. The President had also addressed some concerns related to national security during discussions with officials. What we can confirm right now is that the security forces are closely monitoring the situation,” the Minister said.
Addressing the Parliament last week, during the debate on the expenditure for the Defence Ministry, the President said that there were certain groups in the North and East who might stir up trouble and they may be having links to political forces that were afraid of ongoing investigations.
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