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CBSL Governor calls for political stability to rescue economy

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… warns he will have to resign if chaos continues

Extended power cuts possible if political instabilty persists

Curtailment of expenditure on imports necessary for economic recovery

Sri Lankan economy would collapse if political stability was not restored soon, the Governor of the Central Bank of Sri Lanka (CBSL) Dr. Nandalal Weerasinghe, said yesterday.

Dr. Weerasinghe warned that he would be left with no alternative but to resign within two weeks if political instability continued. He warned that the prevailing political instability, acts of violence and the failure on the part of the State to maintain law and order had made it harder for Sri Lanka to overcome the current economic crisis.

Political stability was essential for economic recovery, said the CBSL chief, adding that when he assumed duties as the Governor, it was thought that the economy could be stabilised soon, but the unfolding events would put paid to efforts that the Central Bank and the Finance Ministry were making to straighten up the economy.

Dr. Weerasinghe said that when he assumed duties one month back, he expected political stability to be restored within two weeks, and they would be able to implement their economic programme.

If all political parties did not come together, no one would be able to rescue the c economy, whoever held the post of the Central Bank Governor, Dr. Weerasinghe said.

“As the Central Bank, we have to state that if such a stable condition cannot be achieved within a very short period of time, the existing situation would worsen further,” he said.

He also said that there was so much that the Central Bank could do and that a solution to the crisis could be achieved by only policy makers.

“There is a serious shortage of foreign exchange in the country and already there is a scarcity of some essential items. Although fuel and gas stocks are available to some extent and power cuts are limited to around three hours, things can change for the worse soon,” he warned.

“If this situation continues even for another two or three days, there will be 10-12-hour power cuts again. We will see a severer shortage of fuel. We will see longer queues for cooking gas. This will lead to more protests and social unrest. We at the Central Bank hope there will be political stability soon so that we will be able to implement our policies and find some foreign exchange to address these current shortages of essentials.”

Dr. Weerasinghe said that Sri Lanka needed a stable government, a Cabinet, a functioning parliament, a prime minister and a finance minister to reach an agreement with the IMF.

“Without a stable administration that is respected by the people, it is very difficult for us to make any progress. This is why I have been repeating the urgent need for a stable administration and law and order in the country so that everyone can engage in their normal day-to-day activity,” he said.

The President and all the Members of Parliament have to come together and find a workable solution soon without placing the country at a bigger risk, he said. “Otherwise, there will be no progress and everyone will have to undergo more suffering.”

Dr. Weerasinghe also urged people to reduce the consumption of imports. If someone needs to buy a mobile phone, a TV or a refrigerator, he or she should wait a month or two, he said. “There are many items in showrooms despite import restrictions. They are also trying to make undue profits. I think people should cut down on these purchases. If we don’t spend money on these, we will have more money for essentials. Also, vendors will have to reduce prices. Remember what happened to cement; traders stocked up and jacked up prices, but because people didn’t buy, cement prices plummeted.”



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Landslide RED warnings issued to the Divisional Secretaries Divisions of Ududumbara, Nildadndahinna and Walapane

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The landslide early warning center of the National  Building Research Organisation [NBRO] has issued RED warnings to the districts of Kandy and Nuwara Eliya for the next 24 hours effective from 0900 hrs today [09th January].

Accordingly,
LEVEL III RED landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Ududumbara in the Kandy district, and Nildandahinna and Walapane in the Nuwara Eliya district.

LEVEL II AMBER landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Wilgamuwa in the Matale district, and Mathurata and Hanguranketha in the Nuwara Eliya district.

LEVEL I YELLOW landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Uva Paranagama, Welimada,  Kandaketiya, Badulla, Meegahakiwula, Hali_Ela, Passara and Lunugala in the Badulla district, Minipe in the Kandy district, Ambanganga Korale, Ukuwela, Rattota, Naula and Laggala_Pallegama in the Matale district, and Nuwara Eliya in the Nuwara Eliya district.

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A Policy is being formulated to ensure Child Protection in the use of Technology — Prime Minister

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Prime Minister Dr. Harini Amarasuriya stated that a policy is currently being formulated to ensure child protection in the use of technology.

The Prime Minister made this statement on Thursday (08) in Kandy while briefing the Most Venerable Mahanayake Theros of the Asgiriya and Malwathu Chapters on the issue that has arisen regarding the Grade 6 English module. Thereafter, printed copies of all modules were  presented to the Mahanayake Theros.

Earlier on Thursday  (08), the Prime Minister visited the Malwathu Viharaya in Kandy and met the Most Venerable Thibbatuwawe Sri Siddhartha Sumangala Nayaka Thero, the Mahanayake of the Malwathu Chapter, where she explained the error that had occurred in the first print run of the English module for Grade 6 .

The Mahanayake Theros emphasized that education is a sensitive subject and that such matters should be handled with greater sensitivity and proper oversight. They further advised that a formal investigation should be conducted and that education reforms should be carried forward in a systematic manner.

Subsequently, the Prime Minister visited the Asgiriya Maha Viharaya and met the Most Venerable Warakagoda Sri Gnanarathana Mahanayaka Thero of the Asgiriya Chapter, where she clarified the error related to the English module.

The Mahanayake Thero noted that education reforms are a timely necessity and should be implemented with due oversight and careful review and also pointed out that there are broader issues in Sri Lanka regarding the use of technology, which are evident in the manner in which modern tools such as AI technologies are being used on social media.

Clarifying the issue Prime Minister Dr. Harini Amarasuriya further stated,

“We have appointed a committee to look into this issue, and based on the recommendations of the National Institute of Education (NIE), steps were taken to remove the relevant lesson. In addition, all printed copies of the relevant module have been stamped, and no module has been distributed to schoolchildren. A formal investigation into this matter has been initiated by the Ministry, and a complaint has also been lodged with the Criminal Investigation Department.

At the same time, we are in the process of formulating a policy on child protection in the use of technology”.

Thereafter, addressing the media and responding to the’ questions raised by journalists, the Prime Minister stated:

“The Opposition is attempting to use this national task for their own political advantage. However, many in society have expressed their views on the issues that have arisen in a positive manner, with the objective of identifying and correcting mistakes. The government has decided to move forward with education reforms by recognizing the error that have occurred and rectifying them. We will take the no-confidence motion brought by the Opposition as an opportunity to further advance dialogue on education reforms”

The occasion was graced by the Most Venerable Anunayaka Thero of the Asgiriya Chapter, Venerable Narampanawe Ananda Nayaka Thero; Deputy Registrar of the Asgiriya Chapter, Venerable Muruddeniye Dhammarakkhita Thero; Deputy Registrar of the Malwathu Chapter, Venerable Mahawela Rathanapala Thero; Members of Parliament Thushari Jayasinghe and Thanura Dissanayake; Mayor of Kandy Chandrasiri Wijenayake; Secretary to the Ministry of Education Nalaka Kaluwewa; and Secretary to the Ceylon Teachers’ Union in Central Province D. D. Wimalaweera.

[Prime Minister’s Media Division]

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The deep depression to the South-east of Sri Lanka is likely to intensify in to a cyclonic storm during the next 24 hours

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Deep depression Track. (Source: RSMC)

A RED warning  for a deep depression to the South-east of Sri Lanka has been issued at 01.00 a.m. on 09 January 2026 for the period until 01.00 a.m. 10 January 2026 by the Natural Hazards Early Warning Centre, of the Department of Meteorology.

The deep depression in the Bay of Bengal to the southeast of Sri Lanka (At 01:00 a.m. on Jan 9th, 2026 located about 200 km East of Pottuvil) is very likely to intensify further and move west-northwestwards towards the coast of Sri Lanka between Pottuvil and Trincomalee in the evening today (9th January 2026.) The system is likely to intensify in to a cyclonic storm
during the next 24 hours.

Hence, showery, and windy condition over the island, particularly in the Northern, North-Central, Eastern, Uva and Central provinces is expected to enhance.

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