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Zuhair says restoring worker remittances one way of overcoming crisis

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Former People’s Alliance MP M. M. Zuhair, PC, says restoration of worker remittances to pre-2020 level of US $ 7 billion per year can facilitate early economic recovery. The former Senior State Counsel asserted US $ 7 bn can be a better ladder for Sri Lanka to come out of the ‘deep distressing well’ than IMF’s US $ 2.9 billion.

Zuhair issued the following statement: “President Ranil Wickremesinghe has said that the US $ 2.9 billion request to IMF, receivable over a period of four years, is the only ladder for Sri Lanka to come out of the deep well. The President needs to be advised that other additional options do exist for the 22 million Sri Lankans to come out of the deeply distressing well! I wish to deal here with only one such alternative option for the President to work on.

According to Central Bank reports, during the past 20 years, worker remittances had covered around 80% of the country’s foreign exchange deficits. Worker remittances during the six years from 2015 to 2020 had averaged more than US $ 7 billion each year, improving substantially the foreign exchange liquidity in the country and in the banking system.

But in 2021 worker remittances dropped to US $ 5.5 billion and in 2022 dropped further sharply to US $ 3.8 billion! The country lost thereby US $ 1.6 billion in 2021 compared to US 7.1 earned in 2020! In 2022 we lost US $ 3.3 billion compared to 2020 as well as compared with the previous six year annual average earnings!

Sri Lanka is struggling for the past one year to get US $ 2.9 billion from the IMF having lost US $ 1.6 billion and US $ 3.3 billion, almost US $ 5 billion during the past two years, with no organized efforts to restore the forex earnings, from our own countrymen and women to the established national average of US $ 7 billion per year! Should not there be an appeal, at least at the president’s level to the Sri Lankan workforce overseas to enhance direct official remittances and also to the heads of States of countries where they are employed to give preference to Sri Lankans in fresh recruitments, without passing the buck to the Central bank or the Minister?

President Wickremesinghe knows that the IMF 2.9 billion dollars as well as what may come thereafter from the World Bank and other lenders are repayable loans with interest. All those will add up to the national debt of US $ 52 billion compelling the next generation to continue the economic struggle and for-ever be dependent on Western controlled institutions and countries. We can fall from that ladder deeper into the well! Hope not!

Indeed he and his advisors know that forex worker remittances are not repayable debts; do not involve import contents as in garment exports and stabilises the currency exchange rates in favour of Sri Lanka in terms of debt servicing and external trading.

Mr President! Restoring worker remittances to pre 2020 level of US $ 7 billion per year can become a better ladder for Sri Lanka to come out of the ‘deep distressing well’ than IMF’s US $ 2.9 billion!

Tapping and enhancing worker remittances can turn out to be a non-debt creating lasting solution to Sri Lanka’s crisis and to come out of the long term hegemonic control of international money lenders! I am no economist but will those who understand the subject better respond in the national interest to the President’s challenge?”



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Iranian ships stranded, Lanka fears US sanctions

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‘Companies may face US sanctions’: Lanka to put ‘national interest’ first as 19 Iranian vessels seek help

(ToI) Sri Lanka said on Friday it would “prioritise our national interests” before providing assistance to the crews of 19 Iranian ships anchored in international waters near the island nation.The crews are facing shortages of food, water and fuel. A foreign ministry spokesperson cited the risk of US sanctions against Sri Lankan companies supplying the vessels as a key concern.

The United States and Iran have been at war since February 28, when the US and Israel launched joint strikes against the Islamic Republic.

“Sri Lanka will put its national interest first before considering any help, and the companies that supply ships are aware of possible secondary sanctions from the United States,” spokesperson Thushara Rodrigo told reporters, ruling out any immediate assistance to the vessels.

Rodrigo clarified, however, that Sri Lanka had received no communication from the United States warning of repercussions if it decided to assist the vessels.According to Rodrigo, the ships are stationed 24 nautical miles off Sri Lanka’s coast.The Iranian Embassy said it had no information on the matter.

In March, a US torpedo attack sank the Iranian naval vessel IRIS Dena in Sri Lankan waters, killing 87 sailors.

The ship was returning to Iran after participating in a naval exercise at India’s invitation. A second Iranian vessel was brought to a Sri Lankan port after its crew reported technical problems.

Wounded sailors were treated at Sri Lankan hospitals, while those rescued from the second vessel were safely repatriated to Iran.

Sri Lanka is still recovering from an economic crisis, with both the United States and Iran serving as important trading partners. Washington played a key role in securing an International Monetary Fund bailout and supporting Sri Lanka’s agricultural sector to help avert a food crisis.

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Sri Lanka CERT warns of overseas university admission scams

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Sri Lanka CERT has warned the public of fraudulent social media advertisements offering admission to foreign universities after receiving complaints from parents and students who have lost hundreds of thousands of rupees to scammers.

The fraudsters reportedly pose as representatives of reputed foreign universities, promising admission, student visas, work permits and even eventual citizenship in return for registration fees and initial tuition payments.

They use convincing videos, photographs and documents circulated via email and WhatsApp to gain the confidence of unsuspecting victims before asking them to transfer money to foreign bank accounts. The scammers then disappear after receiving the payments, Sri Lanka CERT said.

The agency has urged prospective students and their parents to verify the authenticity of university representatives, documents and bank account details before making payments, and to seek overseas education opportunities only through legitimate and recognised channels.

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Navi Pillay’s Lankan affairs in focus as she wins 2026 Nobel Peace Prize

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Navi Pillay

Former UN High Commissioner for Human Rights and International Court of Justice judge Navanethem “Navi” Pillay has won the 2026 Nobel Peace Prize for her contribution to international law and efforts to promote peace, the Norwegian Nobel Committee announced in Oslo on Friday.

Announcing the award, committee chairman Jørgen Watne Frydnes said Pillay had “significantly enlarged the scope and impact of international law” and helped advance “a more comprehensive global legal order” with exceptional courage. He also praised her long career, which began as a lawyer confronting deep-rooted discrimination in South Africa, and described her as a person with a “firm moral compass”.

Pillay, 85, served as the UN High Commissioner for Human Rights from 2008 to 2014. Her tenure brought her into sharp focus in Sri Lanka, particularly over her assessment of the country’s human rights situation in the aftermath of the decades-long civil war.

During an official fact-finding visit to Sri Lanka from August 25 to 31, 2013, Pillay travelled to areas including Jaffna, Kilinochchi and Trincomalee, where she met civil war survivors, families of the disappeared and local communities.

Following the visit, she warned that Sri Lanka was moving towards authoritarianism and highlighted what she described as a persistent climate of fear.

She also reported intimidation and harassment of people who had sought to meet her during the mission.

Pillay urged the UN Human Rights Council to establish an international inquiry mechanism to investigate alleged war crimes and crimes against humanity committed by both government forces and the LTTE during the final stages of the 26-year civil war.

Her observations and recommendations became a significant part of international scrutiny of Sri Lanka’s post-war human rights record.

The Norwegian Nobel Committee received 287 nominations for this year’s Peace Prize, slightly more than a quarter of them being organisations. The committee traditionally considers efforts to promote peace, international fraternity and institutions that contribute to lasting stability.

Last year, Venezuelan opposition leader Maria Corina Machado won the prize for her campaign for a democratic transition in Venezuela. She was praised as a woman who kept the flame of democracy burning amid growing darkness.

The 2026 award marks the 125th anniversary of the Nobel Peace Prize, first presented in 1901. Over its history, the prize has recognised prominent figures and organisations involved in advancing peace, human rights and international cooperation.

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