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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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Athapaththu and Dilhari muscle Sri Lanka past Malaysia in mismatch
The quarter-finals of the Asian Games women’s competition, putting top-notch teams against teams without much experience of playing at the highest level, were expected to be mismatches. It took till the third game – Bangladesh vs China was washed out and Thailand gave Pakistan a fright for a proper one-side affair, though, as Sri Lanka bashed 160 after opting to bat, and their bowlers then stopped Malaysia 86 runs short.
Fresh off their appearance in the final of the Women’s T20 Asia Cup, Sri Lanka were always expected to dominate, but it didn’t quite start the way they wanted, with Imesha Dulani run out for another low score in the third over – she hasn’t topped 25 in eight innings since her century against Pakistan on July 31.
Chamari Athapaththu, however, stitched together an 80-run stand off just 53 balls with Hasini Perera for the second wicket, scoring 56 runs in 27 balls to Perera’s 23 in 26 in the collaboration. After the two batters fell, Kavisha Dilhari played a similar role to Athapaththu in the stand with Harshitha Samarawickrama, scoring 36 in 19 in a stand worth 62 in 37 balls.
Athapaththu top-scored with 63 in 37 balls, while Dilhari’s unbeaten 44 came off just 27 balls. For Malaysia, offspinner Nurin Imanina impressed with 3 for 29 from her four overs, picking up all the wickets to fall to bowlers.
In reply, Malaysia were three down inside the powerplay, with Dilhari picking up two of the wickets to fall on her way to returns of 2 for 4 from three overs. Athapaththu chipped in with two wickets of her own to finish with 2 for 3 from two overs, while Mithali Ayodhya got 2 for 15 from three.
It’s not like there was no resistance from Malaysia: Winifred Duraisingam scored 28, though it took her 47 balls to do it, while Mahirah Izzati Ismail scored 24, another slow effort, taking her 42 balls.
Scores:
Sri Lanka Women 160 for 4 in 20 overs (Athapaththu 63, HasinMithali Ayodhya 2-15i Perera 23, Kavisha Dilhari 44*, Harshitha Samarawickrema 25; Nurin Imanina 3-29) beat Malaysia Women 74 for 7 in 20 overs (Winifred Duraisingam 28, Mahirah Izzati Ismail 24; Mithali Ayodhya 2-15, Kavisha Dilhari 2-04, Chamari Athapaththu 2-03, ) by 86 runs
[Cricinfo]
News
Bid for Basil’s extradition nears final stage: Police
Govt. is finalising extradition proceedings against Basil to have him stand trial here in respect of several cases
By Norman Palihawadane
The process of having former Minister Basil Rajapaksa extradited from the US to Sri Lanka was being finalised, Police Headquarters sources disclosed yesterday.
The government has formally sought assistance from the United States government to extradite former Minister Basil Rajapaksa, as multiple courts have reissued arrest warrants over his failure to appear before them in connection with two separate criminal cases, a senior police officer told The Island.
The officer, speaking on condition of anonymity, said matters pertaining to obtaining US government authorities’ assistance to extradite Rajapaksa were now being finalised.
Police headquarters sources said law enforcement agencies were currently evaluating red notices, which request the location and provisional arrest of a person pending formal extradition.
The CID and Police Headquarters earlier initiated steps to seek INTERPOL assistance to secure Rajapaksa’s return to Sri Lanka to face court proceedings relating to the two cases in which arrest warrants have been issued against him.
Rajapaksa is believed to be residing in Los Angeles, United States.
The Matara Chief Magistrate’s Court on July 21, 2026, reissued an arrest warrant for Rajapaksa after he failed to appear before court for the second time in connection with a case involving the alleged purchase of a 1.5-acre coconut estate on Eliyakanda Road in the Brown’s Hill area of Matara.
The case relates to the purchase of the property for Rs. 60 million.
The case was filed by the Police Financial Crimes Investigation Division and names Basil Rajapaksa and several other accused, including Ayoma Galappaththi, identified in court reports as the sister of Rajapaksa’s wife, Tissa Galappaththi, and Muditha Jayakody.
However, officials acknowledged that seeking US assistance would only begin a formal international process and would not automatically result in Rajapaksa’s arrest or return to Sri Lanka. Sri Lankan authorities would need to submit court orders, details of the alleged offences, and other supporting documents through the appropriate diplomatic and judicial channels. Any request would then be considered by the relevant US authorities under American law and applicable legal arrangements.
Sources at the Foreign Ministry said sealed correspondence had been exchanged between Sri Lanka’s Ministry of Foreign Affairs and the Legal Department of the US State Department relating to corruption allegations against members of the Rajapaksa family residing in the United States.
The legal foundation for any extradition is the bilateral treaty between Sri Lanka and the United States signed in Washington on September 30, 1999. The treaty applies the principle of dual criminality, meaning authorities must show that the underlying conduct amounts to a crime in both countries. Rajapaksa’s status as a United States citizen would not, on its own, make him immune from a valid request under the treaty’s provisions.
News
High blood pressure, diabetes lead to about 80% of deaths in Sri Lanka
Non-communicable diseases (NCDs) account for 80% of all deaths in Sri Lanka, with high blood pressure and diabetes among the leading causes, Secretary to the Ministry of Health and Mass Media, Dr. Anil Jasinghe, said early this week.
Dr. Jasinghe pointed out that the two conditions were interrelated and could lead to a range of serious health complications, with heart attacks being among the most severe consequences.
Dr. Jasinghe made these remarks while attending the commencement of construction of a modern Cardiac Care Complex at the Anuradhapura Teaching Hospital on Wednesday (16).
The Health and Mass Media Ministry Secretary said:
“The main issue is that these two diseases are interconnected and cause a range of complications in a person’s health. Looking at the current situation in Sri Lanka, only around 50% of those suffering from high blood pressure are under effective control. Similarly, only around 25% of diabetic patients are under proper control. As a result, this has now become a major problem in society.
“The most serious complication associated with both these diseases is Myocardial Infarction (MI), or a heart attack. This has also become the
leading complication. So, how do we control this modern epidemic? This is the biggest challenge before us.
“While establishing modern facilities across the country, our health system must also recognize the changes that have taken place in the demographic structure of our population and disease patterns. Accordingly, our health system must be adapted to suit these changing circumstances.
“Under the policies of the government led by the President and the guidance of the Minister of Health, the Ministry of Health and Mass Media is currently implementing a major programme in this regard. Its three main components are Arogya, Cluster Systems and High-End Care Institutions, which need to be developed to suit the requirements of our health system.”
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