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CB Governor Weerasinghe honoured with prestigious “A Grade” award by Global Finance Magazine

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Dr. Nandalal Weerasinghe, has been awarded the “A Grade” by Global Finance magazine at the 2025 World’s Best Central Bank Governors awards, held alongside the IMF–World Bank Annual Meetings in Washington

Central Bank Governor Dr. Nandalal Weerasinghe has underscored the importance of timely restructuring, transparency, and sustained reform, and emphasised a focus on countries with sustainable debt, but high debt servicing burdens. He said so at a Global Sovereign Debt Roundtable (GSDR) in Washington.

According to CBSL, Sri Lanka advocated for clearer processes in commercial debt restructuring, regular updates on bilateral agreements, practical guidance on liability management, and greater debt transparency.

The Sri Lankan delegation, led by CB Governor Dr. Weerasinghe actively participated in a series of high-level bilateral and multilateral meetings during the 2025 World Bank Group/ International Monetary Fund (IMF) Annual Meetings in Washington, D.C., between October 13 and18, 2025.

The CB Governor, during his participation at the Annual Meetings, met with the Managing Director of the IMF, the President of the World Bank Group, senior officials from both institutions, and representatives from the US Department of Treasury, the CBSL said.

The delegation, which included senior officials from the Central Bank of Sri Lanka and the Ministry of Finance, received strong support for Sri Lanka’s ongoing economic reform efforts. There was widespread recognition of the country’s prudent macroeconomic management, encompassing sound fiscal and monetary policies, efforts to safeguard financial system stability, strengthened social safety nets, and continuous improvements in governance.

Discussions with multilateral and bilateral partners focused on advancing development cooperation in infrastructure, energy, and digital transformation, with particular interest in securing new financing and technical assistance on capacity building. The delegation also engaged productively with the sovereign credit rating agencies, providing updates on economic recovery and reform milestones that were well received and helped reinforce market confidence.

Constructive interactions with the US Chamber of Commerce and active participation in investor forums further highlighted Sri Lanka’s commitment to transparency, investment promotion, and fostering renewed investor confidence. Progress on debt restructuring was highly commended, future collaboration was encouraged, and updates on economic recovery and reform milestones were well received.

During the Global Sovereign Debt Roundtable (GSDR), Sri Lanka welcomed global efforts to address debt vulnerabilities and strengthen coordination, emphasising the near completion of its debt restructuring and recent IMF programme milestones.

Governor Dr. Weerasinghe underscored the importance of timely restructuring, transparency, and sustained reform, and emphasised a focus on countries with sustainable debt, but high debt servicing burdens. Sri Lanka advocated for clearer processes in commercial debt restructuring, regular updates on bilateral agreements, practical guidance on liability management, and greater debt transparency.

The intervention endorsed the updated Restructuring Playbook and called for enhanced international support to sustain reforms and restore market access, reaffirming Sri Lanka’s commitment to ongoing global debt coordination efforts, the statement said.

The outcomes of these meetings and the GSDR intervention underscore the international community’s confidence in Sri Lanka’s reform trajectory. Constructive engagement with key partners and financial institutions has reinforced support for Sri Lanka’s economic recovery, debt sustainability, and investment climate.

The delegation’s transparent dialogue and commitment to best practices send a strong signal to markets and investors: Sri Lanka is on a firm path to stability and growth, backed by robust policies and global partnerships, it added.

A highlight of the week was the recognition of Dr. Nandalal Weerasinghe with the prestigious “A Grade” award by Global Finance Magazine at the 2025 World’s Best Bank Awards Ceremony. This accolade was in recognition of prudent monetary policy, supervision of the financial system, and the Central Bank’s leadership in navigating challenging global conditions.



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House erupts over suspension of Deputy Secretary General

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Opposition and SJB Leader Sajith Premadasa yesterday raised concerns over the recent suspension of Parliament’s Deputy Secretary General and Chief of Staff, G.K.A. Chaminda Kumara Kularatne, alleging that the process appeared to be mala fide. Addressing Speaker Jagath Wickramaratne in Parliament, Premadasa said that the existence of a personal disagreement between the Speaker and the suspended official had created a potential conflict of interest.

Premadasa said disciplinary action against senior parliamentary officials had to be taken in keeping with established parliamentary precedents. He also questioned the legality and propriety of a lower-ranking official leading an inquiry against a senior officer.

“For the first time, we are witnessing a rift between the Speaker and the staff of the Secretary-General. All parties must step back, act democratically and ensure that the fundamental rights of Chaminda Kularatne are safeguarded,” he added.

ITAK Batticaloa District MP Shanakiyan Rasamanickam said Kularatne had not been given an opportunity to respond to the allegations made against him.

“This is a disgraceful situation. A complaint has been lodged against you with the Bribery Commission. Parliament is the supreme institution of democracy in this country, and the precedent being created here is dangerous,” Rasamanickam said, addressing the Speaker.

SJB Kandy District MP Chamindranee Kiriella said the Speaker was duty-bound to inform the House before disciplinary action was taken against a parliamentary official. SJB MP Ajith P. Perera said it was unethical for the Speaker to assume a leadership role in the inquiry, and called for the matter to be entrusted to an independent authority.

Responding on behalf of the Government, Chief Government Whip and Health and Mass Media Minister Dr Nalinda Jayatissa said the chief investigating officer, S.K. Liyanage, an Additional Secretary, had been appointed by the Staff Advisory Committee on 25 August, 2025. He said Liyanage had been selected from a pool of qualified officers at the Ministry of Public Administration and had prior experience in conducting investigations.

Leader of the House and Transport Minister Bimal Rathnayake said the Staff Advisory Committee had agreed on the respective powers of parliamentary officials, noting that the Secretary General would hold powers equivalent to those of Ministry Secretary, while the Deputy Secretary General would hold powers equivalent to those of an Additional Secretary.

“There is no irregularity in the conduct of the investigation or in the appointment of the investigating officers,” Rathnayake said.

On 24 January, 2026, Parliament announced the immediate suspension of Deputy Secretary General and Chief of Staff Chaminda Kularatne with effect from 23 January, citing concerns relating to his appointment. Kularatne had assumed duties on 15 September, 2023.

On Monday, Kularatne filed a complaint with the Commission to Investigate Allegations of Bribery or Corruption against Speaker Jagath Wickramaratne, alleging corruption. His legal counsel, Attorney-at-Law Mithun Dias, said the complaint had been filed against the Speaker in his personal capacity and not against the government.

However, Dr Jayatissa told the House that the investigation into Kularatne was based on concerns relating to his appointment, qualifications and the process by which he had been confirmed in that post and was not linked to any personal dispute with the Speaker.

By Saman Indrajith

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78th Independence Day celebrations at Bogambara Stadium

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The 78th Independence Day celebrations in the Central Province are scheduled to be held today from 8:00 AM at the Bogambara Stadium, Kandy.

The celebrations are jointly organised by the Central Provincial Council and the Kandy District Secretariat. The Governor of the Central Province, Prof. S.B.S. Abeykoon, is expected to grace the occasion as the Chief Guest.

The event will also see the participation of Kandy District Members of Parliament, the Chief Secretary of the Central Province, Mr. Ajith Premathilake, as well as representatives from the Tri-Forces, Police, school students, and various voluntary organisations.

The ceremony will feature a formal parade and cultural performances by school children.

By S.K. Samaranayake

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Colombo-Kandy railway line to be fully restored this year – Minister Bimal

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Minister of Transport, Highways, and Urban Development, Bimal Rathnayake, has announced that the reconstruction of the Colombo-Kandy railway line, which was severely damaged by landslides in the Balana and Kadugannawa areas, will be completed within this year to restore normal train services.

The Minister made this statement during the Kandy District Development Committee meeting held at the District Secretariat. He noted that work will commence following the observations and technical reports provided by the National Building Research Organisation (NBRO) regarding the stability of the landslide-affected areas.

Financial Management and Development

Minister Rathnayake emphasised that the government possesses the necessary funds for development projects.

“Our government has the funds. However, all officials must ensure these funds are managed efficiently so that they are fully utilised for development, without being returned to the Treasury at the end of the year,” he stressed.

Improvements in Public Transport

Highlighting the progress in the transport sector, the Minister shared several key updates

• Recruitment: 700 new employees have been recruited to the Sri Lanka Transport Board (SLTB) and are currently undergoing training.

• School Transport: Steps are being taken to strengthen the ‘Sisu Sariya’ school bus service within the Kandy District.

• Infrastructure: The reconstruction of the Peradeniya Black Bridge (Kalu Paalama), which was damaged during the ‘Ditwah’ disaster, is nearing completion.

Welfare facilities for Private Transport Workers

The Minister also revealed plans to support the welfare of private bus drivers and conductors.

“We must look after the workers in the private transport sector as well. We are planning to establish a welfare fund for them and are taking steps to include them in the Employees’ Provident Fund (EPF) system,” he added.

Concluding his remarks, the Minister urged state officials to perform their duties responsibly and ensure that the inefficiencies seen under previous administrations do not recur.

By S.K. Samaranayake

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