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Blue Print: Out of the debt trap and onto sustainable development
A 10-Point Common Minimum Program for Sri Lanka’s Economic Recovery by Harsha de Silva, MP
Introducing his program, Dr. Harsha de Silva said: Sri Lanka is currently facing its worst economic crisis since independence. Decades of shortsighted policies and halfhearted reforms weakened our foundation, and a global crises pushed us to a brink.
While the President RW and the current cabinet have stated there needs to be some deep economic reform, no roadmap has been put forward thus far. On Friday I tabled in @ParliamentLK economic recovery blueprint for #SriLanka which has been endorsed by the other two members of the SJB Economic Committee, Kabir Hashim and Eran Wickramaratne
In this blueprint, I put out a 10-step plan to help navigate Sri Lanka out of our economic crisis using policies which have been decades in the making. I invite the government, opposition parties, international partners, as well as all other relevant stakeholders to use this blueprint to start the conversation on how best to bring Sri Lanka out of this socio-economic crisis. As always feedback is more than welcome, I’m eager to hear your thoughts.
EXECUTIVE SUMMARY
Sri Lanka’s economic crisis is not unexpected. Decades of shortsighted policies and halfhearted reforms weakened our foundation. Sudden global crises pushed us to a brink. Appalling mismanagement took us over the edge. Today, our state is bankrupt, inflation is rampant, the economy is at a standstill, and our socio-political order is in crisis.Yet we can still recover: we can reach out for the few lifelines left, regain our ground, reform our economy, and rebuild our country. This Blueprint tells us how.
We must manage our immediate debt crisis by obtaining bridging financing until the International Monetary Fund (IMF) disburses funds, and productively engage the IMF while restructuring our debt. We must maintain financial system stability as we do so. The exchange rate should be carefully floated to market levels and interest rates should rise to control inflation.
Monetary policy reform will ensure that we do not backslide into crisis. Fiscal reform is critical. Tax revenues must be increased, and expenditure rationalized. Reforming unproductive or corrupt state-owned enterprises will be a key part of this process. This is especially true for energy and utilities, for which consumers will now need to pay cost reflective tariffs.
Targeted, means-tested cash transfers will help the needy meet these unsubsidized market prices. The public sector must be transformed into a productive, efficient, high-quality, digitally enabled workforce that serves the needs of Sri Lanka’s citizens.
As we stabilize, we must also grow. It is essential that we promote trade, industry, agriculture, and services by unshackling markets, increasing competitiveness and productivity, promoting exports and investment, and integrating with global production networks.
Land and labour market reform will enable and amplify this growth. A strong, transparent, effective social safety net that safeguards those who need it must underpin these changes. Moreover, it is essential to execute and uphold anti-corruption and transparency laws for these changes to last.This will not be an easy path, but it is our only route out of debt and towards sustainable inclusive development.
(Harsha de Silva is a member of the main opposition Samagi Jana Balawegaya (SJB). This document has been ratified by the SJB Economic Policy Unit consisting of the author, Kabir Hashim, MP and Eran Wickremeratna, MP, and endorsed by SJB Leader Sajith Premadasa, MP. Valuable advice and comments from Professor Premachandra Athukorala on several previous drafts are acknowledged with gratitude. This document incorporates, in tables, the short-medium term action plan detailed in the ‘Common Minimum Program’ compiled by the National Movement for Social Justice (NMSJ) using the proposals of eight groups (Advocata Institute, BASL, Elle Gunawansa Thero, independent economists, NMSJ, NPP, SJB, 43 Brigade) and discussed with the SLFP and business leaders.)
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Let us dispel the roots of greed, hatred, and delusion, and transform our lives into a nobel period that brings peace and serenity – PM
Prime Minister Dr Harini Amarasuriya in her Vesak day message called upon all Sri Lankans to dispel the roots of greed, hatred, and delusion, and transform their lives into a nobel period that brings peace and serenity
The Prime Ministers Vesak day message:
“It is an honor to extend Vesak day felicitations to all citizens of the nation during this sacred period in which lives are shaped in accordance with the noble teachings preached by Lord Buddha, and upholding the practice of Dhamma.
Just as the external world is illuminated by lanterns, this Vesak season should also be an opportunity to illuminate our own hearts with compassion, kindness, and wisdom. Let us dispel the roots of greed, hatred, and delusion, and transform our lives into a nobel period that brings peace and serenity.
“abhittharetha kalyāṇē” – Let us hasten towards the common good. The theme for this year’s State Vesak festival reflects the social needs of the present time. While eliminating narrow beliefs and mindsets, this Vesak festival should become a source of blessings and strength for us to build a nation dedicated to the common good and radiant with the values of the Dhamma.
Followed by the guidance of the Mahanayake Theros and the All Island Sasanarakshaka Mandalaya, I extend wishes for the State Vesak Festival, jointly organized by the Ministry of Buddhasasana, Religious and Cultural Affairs and the Ministry of Public Administration, Home Affairs, Provincial Councils and Local Government.
Through the deep bond that exists between the state and” Buddhism, the progress and prosperity of the country can be achieved through righteous governance. It is essential that we cultivate the patience needed to overcome the economic and social challenges we face as a nation, founded on the noble ideal of “May all beings be well, happy and at peace” where justice is ensured for all regardless of caste, race, or religion.
I respectfully invite all of you to join in celebrating an environmentally conscious and nature-friendly Vesak, walking the Middle Path. Let us move forward together towards a society grounded in principled conduct.
May everyone be blessed with a peaceful and meritorious Vesak!
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Prime Minister and United Nations Resident Coordinator discuss post-Ditwah recovery and humanitarian cooperation
Prime Minister Dr. Harini Amarasuriya met with the United Nations Resident Coordinator in Sri Lanka, Marc-André Franche, at Temple Trees on Friday (29 May) to discuss post-Cyclone Ditwah recovery efforts and continued humanitarian cooperation between Sri Lanka and the United Nations.
Particular attention was drawn to the Humanitarian Priority Plan (HPP), launched in December 2025 to support communities affected by the cyclone. The initiative concluded on 30 April 2026 after providing humanitarian assistance to vulnerable populations across 25 districts through the collective efforts of 81 partner organizations.
The discussions highlighted the Government recognized the substantial international support mobilized through the HPP and noted the importance of sustained collaboration to ensure that recovery gains are maintained.
During the discussion the United Nations delegation formally presented the latest SRI LANKA Cyclone Ditwah Situation Report to the Prime Minister.
(Prime Minister’s Media Division)
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Further embrace the values of Buddhism founded upon non-violence, compassion and boundless loving-kindness towards all living beings – President
President Anura Kumara Dissanayake in his Vesak day message called upon all Sri Lankans to further embrace in their lives the values of Buddhism founded upon non-violence, compassion and boundless loving-kindness towards all living beings.
The full text of the Presidents message:
The Vesak festival, which commemorates the three pivotal milestones in the life of Lord Buddha: his birth, his attainment of enlightenment, and his passing (Nirvana), is the most sacred celebration for Buddhists across the world. The people of Sri Lanka, heirs to a proud culture enriched by Buddhist heritage, join Buddhists worldwide in devoutly observing this noble occasion.
Buddhism is the greatest philosophical teaching to have conveyed to the entire world a timeless and practical message of peace. The entirety of the Dhamma preached by the Gautama Buddha is founded upon the Four Sublime Virtues of loving-kindness, compassion, empathetic joy and equanimity.
Furthermore, peace, coexistence and reconciliation constitute the supreme teachings expounded not only by the Buddha but also by all enlightened teachers. Buddhism teaches that, in order to establish peace in the external world, inner spiritual peace within the individual must first be secured. We must recognise that this inward and peaceful approach, as advocated by Buddhism in guiding society towards collective noble objectives, is more relevant today than ever before. I believe that this was also the message brought to Sri Lanka recently by the Vietnamese monk Venerable Pannakara Thero, who undertook a pilgrimage on foot across the country.
Moreover, the celebration of Vesak is not merely a religious observance, but also a magnificent cultural festival that has, for thousands of years, reflected Sri Lankan identity, solidarity and artistic creativity. It is indisputable that the programmes organised alongside Vesak celebrations, giving prominence to acts of religious observance such as almsgiving, the observance of sil, meditation and Dhamma sermons, as well as the devotional offerings and festivities including dansals, Buddhist devotional songs, beautifully crafted lanterns and splendid pandals, greatly contribute towards fostering mutual understanding, reconciliation and coexistence among communities.
Inviting all people to further embrace in their lives the values of Buddhism founded upon non-violence, compassion and boundless loving-kindness towards all living beings, I extend my heartfelt wishes for a blessed Vesak festival in which all hearts may find peace, comfort and serenity through the soothing grace of the Dhamma.
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