News

Sri Lanka awaiting ‘good news’ from global lender within next 24 days

Published

6 years ago

2021/02/4

By Sanath Nanayakkare

Sri Lanka, which is having talks with the People’s Bank of China, Reserve Bank of India and China Development Bank, is likely to receive good news from at least two of the institutions this month, Dr. Chandranath Amarasekara, Director of Economic Research of the Sri Lanka Central Bank says.

Dr. Amarasekara said so at a Q&A session as a guest speaker at a webinar, Economy+Sector Review-Outlook 2021, organised by the Ceylon Chamber of Commerce; the event was hosted by HSBC Premier Sri Lanka.

According to Dr. Amarasekera, Sri Lanka had to meet debt repayments of US$ 4.3 billion in 2021 and its foreign reserve levels stood at US$ 5.7 billion as at December 2020.

“We are confident that we can meet our external debt obligations in 2021”, Dr. Amarasekara said.

Asked how Sri Lanka would meet its near term external debt repayments, Dr. Amarasekara said: “This is not a new development for Sri Lanka. In 2019 and 2020 also we honoured debt repayments amounting to US$ 4.5 billion each year. However, the current speculation on the matter isn’t helpful. What is more conducive to the current conditions is making the right moves to benefit from the prevailing positive domestic market sentiment and to drive domestic production to a higher level and boost inflows.”

Asked about the ‘historic level’ of Treasury bills held by the Central Bank, he said:”The Central Bank buys government securities to support the economy and to boost liquidity in line with the Central Bank’s monetary policy. This has been done in the past too. When we can’t buy in the primary market, we buy in the secondary market.

“With the lower global oil prices and current import restrictions in place, we were able to save foreign currency worth US$ 3.9 billion in 2020. If this can be repeated, it will help ease the deficit in our trade account. Yes, there will be losers in the process, but this is a necessary evil.”

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Showers will occur in the Western and Sabaragamuwa provinces and in Galle, Matara, Kandy and Nuwara-Eliya districts

Published

11 mins ago

2026/09/2

Priyan

WEATHER FORECAST FOR 02 SEPTEMBER 2026
Issued at 05.30 a.m. on 02 September 2026 by the Department of Meteorology

The atmospheric conditions are getting favorable for afternoon thundershowers in the Northern, North-central, Eastern and Uva provinces in the next few days.

Several spells of showers will occur in the Western and Sabaragamuwa provinces and in Galle, Matara, Kandy and Nuwara-Eliya districts. Showers or thundershowers may occur at a few places in the Eastern and Uva provinces and in Mullaitivu district after 2.00 p.m.

Fairly strong winds of about (30-40) kmph can be expected at times over the Western slopes of the Central hills, the North-central and North-western provinces and in Hambantota and Matale districts.

The general public is kindly requested to take adequate precautions to minimize damage caused by temporary localized strong winds and lightning during thundershowers.

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Sun directly overhead Anamaduwa, Moragollagama, Dambulla, Manampitiya and Valaichchenai, at about 12.10 noon today (02)

Published

16 mins ago

2026/09/2

Priyan

The sun is going to be directly over the latitudes of Sri Lanka from 28th of August to 07th of September due to its apparent southward relative motion.

The nearest places of Sri Lanka over which the sun is overhead today (02) are Anamaduwa, Moragollagama, Dambulla, Manampitiya and Valaichchenai, at about 12.10 noon.

News

SC rejects petitioners’ request for full bench

Published

1 hour ago

2026/09/2

Sahan Weerasooriya

The Supreme Court yesterday rejected a request that the petitions challenging the 22nd Amendment to the Constitution be heard by a full bench of the Supreme Court.

Rejecting the request, Chief Justice Preethi Padman Surasena said the consideration of the petitions would proceed before the five-judge bench.

Appearing on behalf of one of the petitioners, President’s Counsel M. A. Sumanthiran made the request when the petitions were called for hearing yesterday before a five-judge bench of the Supreme Court, headed by Chief Justice Surasena.

President’s Counsel Saliya Pieris, Ali Sabry, Geoffrey Alagaratnam, Eraj de Silva, Srinath Perera, Anura Meddegoda, and Maithri Gunaratne, along with other counsel appearing for several other petitioners, also made the same request.

Solicitor General Viraj Dayaratne, appearing on behalf of the Attorney General, pointed out that the authority to determine the composition of a judicial bench rested with the Chief Justice. Refering to Article 132(3) of the Constitution, the Solicitor General argued that the discretion to determine the number of judges on a bench lay with the Chief Justice and that no other party had the authority to interfere in the matter.

Counsel including President’s Counsel Nigel Hatch, appearing for an intervening petitioner, also made submissions pointing out that the discretion to determine the composition of a bench rested with the Chief Justice.