News
CB Governor upbeat about taking country’s loan request to IMF Board in Jan ’23 if it misses December chance
By Hiran H. Senewiratne
Central Bank Governor Dr. Nandalal Weerasinghe says Sri Lanka is expecting to go to the IMF Board in January 2023 if it misses the December window and is also confident of getting assurance from bilateral creditors soon.
“Most probably meeting the IMF target is too optimistic and satisfactory so far but if we miss that we still have time till January,” Governor Dr. Weerasinghe told the Bank’s monthly monetary policy review meeting yesterday.
The need of the hour was for Sri Lanka to secure assurances from its bilateral creditors in the next couple of weeks, he said. “We are very confident about it considering the manner in which the discussions are progressing,” the Governor said.
It was quite encouraging that bilateral creditors including Paris Club, India, and China formed themselves into an ad-hoc creditor platform and give financial assurances before December 2022, Dr. Weerasinghe said.
Amidst those developments, Sri Lanka also had to complete a series of prior actions to get IMF Board level approval, which was ofutmost importance at this juncture, he said.
“Sri Lanka has already raised taxes and energy prices, and presented a budget for 2023,” the Governor said.
“Although reports claim that the IMF board will go on vacation in December and they will continue their work for at least three days a week as they have a lot on their agenda,” he said.
Sri Lanka has gone to the IMF 16 times due to its soft-peg but managed to avoid default as the country did not have market access to borrow large volumes of foreign debt, he added.Further, the Central Bank money printing had decreased from Rs 341 billion in 2021 to Rs 47 billion between January and October this year, which was a drastic decline, the Governor added.
News
Navy Commander attends Trans-Regional Seapower Symposium in Italy
The Commander of the Sri Lanka Navy, Vice Admiral Damian Fernando attended the 15th edition of Trans-Regional Seapower Symposium, organised by the Italian Navy in Venice in Italy, on 6 and 7 October 2026.
The symposium was held at the Italian Navy‟s historic Arsenal in Venice under the theme “From Regional Waters to Global Influence: Generating Effects Across the Midland Seas of the World”.
Organised biennially by the Italian Navy since 1996, the symposium brings together heads of foreign navies, naval representatives, academics, industry representatives and scientific researchers to discuss maritime security and the role of regional maritime dynamics in shaping the global balance.
The sessions of the symposium aimed to present an analysis of the relevance and influence of regional dynamics on global balances and their relative implications within the maritime domain.
Thus, topics discussed included; ‘Geopolitical Background: Global and Regional Dynamics in Comparison,’ ‘Pivotal Role of Cooperation among Regional Alliances as Security Providers,’
‘Maritime Regional Security Complexes, Global Order and Sea-Based Flows – What Role for Navies?,’ ‘New Arctic Chessboard: Seapower, Resources and the Race for Connectivity,’ ‘Future-
Proof Capabilities: A Naval Force Designed to Operate Across Oceans, Act Within Regions and Deliver Effects on the Ground,’ ‘Future Seas: Industrial Scale, Decisive Mass and Innovation –
Securing the Maritime Domain’ and ‘Future-Proof Leadership: Preparing Maritime Commanders and Sailors for Complexity,’
Cooperation fostered through symposiums of this nature, which bring together a multitude of global maritime stakeholders, will enable the Sri Lanka Navy to respond collectively to maritime
challenges, in pursuit of maintaining a safe, secure, prosperous and a stable ocean region.
Latest News
Heavy showers about (100-150) mm are likely at some places in the Central, Sabaragamuwa, Uva and Southern provinces
WEATHER FORECAST FOR 13 October 2026
Issued at 2.00 p.m. on 12 October 2026 by the Department of Meteorology
A low-pressure area may form over the southeastern Bay of Bengal by 13 October.
Under the influence of this system, an increase in rainfall is expected over the island and the deep and shallow sea areas around the island during the next few days from tomorrow (13).
The general public, as well as the naval and fishing communities, are requested to be attentive to the future forecasts and bulletins issued by the Department of Meteorology in this regard.
Heavy showers about (100-150) mm are likely at some places in the Central, Sabaragamuwa, Uva and Southern provinces.
Fairly heavy showers above 75 mm are likely at some places in the other areas of the island. Showers or thundershowers will occur in most parts of the island.
The general public is kindly requested to take adequate precautions to minimize damage caused by temporary localized strong winds and lightning during thundershowers.
Misty conditions can be expected at some places in the Sabaragamuwa, Central and Uva provinces during the early hours of the morning.
News
Elephant enrichment programme centred on the Thabbowa Reservoir proves successful
As part of the new government’s initiative to formulate scientifically grounded, long-term solutions to the human-elephant conflict, a programme aimed at sustainably fulfilling the natural food and water requirements of wild elephants within forest ecosystems is being successfully implemented.
Spearheaded by the Ministers of Environment, guided by the Secretary to the Ministry of Environment, and supported by all affiliated institutions, this initiative transforms tanks (reservoirs) and forest tracts in high-conflict areas into enriched zones for wild elephants.
To facilitate this forest enrichment drive, 113 forests have already been declared protected reserves under the Vanaspathi National Programme. The initial phase of establishing tank enrichment zones was launched around the Kala Wewa and Thabbowa reservoirs.
Accordingly, the Ministry of Environment and ‘Clean Sri Lanka’ jointly carried out an initiative to develop these reservoir
catchments into designated enrichment zones.
A year ago, an operation to eradicate invasive plant species that posed a severe environmental threat to the Thabbowa reservoir precinct was conducted with the comprehensive labour and
technical support of government officials, environmental scientists, the tri-forces, and residents.
Since the new government’s policy of “A Sustainable Biosphere, An Evergreen Life” is practically implemented at the ground level, officials from the Department of Wildlife Conservation and the Department of Forest Conservation have been continuously monitoring the ongoing progress and
field conditions of this collaborative project under ministerial directives.
During these field reviews, it was observed that following the removal of invasive flora, the tendency of wild elephants to wander into villages searching for sustenance has notably declined; instead, they increasingly frequent the naturally regenerated grasslands along the reservoir fringes.
Having proven this ecological model’s success through trials at Thabbowa and Kala Wewa, the Ministry of Environment has finalized all necessary blueprints to swiftly replicate it across other sensitive wetland systems and reserve zones where human-elephant conflict is prevalent.
By enriching wildlife habitats, this sustainable, eco-friendly, and scientific strategy protects human lives and cultivated farmlands while securing space for wild elephants in their native habitats, continuing to show promising results across high-conflict regions.
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