News
Fitch downgrades Sri Lanka
Fitch Ratings on Wednesday downgraded Sri Lanka’s Long-Term Local-Currency (LTLC) Issuer Default Rating (IDR) to ‘C’ from ‘CC’.It said the issue ratings on local-currency bonds had also been downgraded to ‘C’ from ‘CC’.
Fitch also affirmed the Long-Term Foreign-Currency (LTFC) IDR at ‘RD’ (Restricted Default) and the Country Ceiling at ‘B-‘.Fitch said that the downgrade of Sri Lanka’s LTLC IDR reflects its view that a sovereign local-currency debt
restructuring process has begun, as parliament approved the government’s domestic debt restructuring plan on July 1.The press release said that in Fitch’s view, the proposed domestic debt optimization (DDO) strategy will qualify as a distressed debt exchange (DDE) under its criteria, as it entails a material reduction in terms and is needed to avoid a traditional payment default.
“We will downgrade the LTLC IDR to ‘RD’ upon closing of the exchange offer and following confirmation that the exchange will be executed. The government plans to complete the exchange within July,” Fitch said.
Below are excerpts of the press release: “DDO Qualifies as DDE: In Fitch’s view, the proposed DDO will qualify as a distressed debt exchange (DDE) under our criteria, as it entails a material reduction in terms and is needed to avoid a traditional payment default. We will downgrade the LTLC IDR to ‘RD’ upon closing of the exchange offer and following confirmation that the exchange will be executed. The government plans to complete the exchange within July.
“Foreign Currency IDR in Default: The sovereign remains in default on foreign-currency obligations and has initiated a debt restructuring arrangement with official and private external creditors. The Ministry of Finance had issued a statement on 12 April 2022 that it had suspended normal debt servicing of several categories of external debt, including bonds issued in international capital markets, foreign currency-denominated loan agreements and credit facilities with commercial banks and institutional lenders.
“ESG – Governance: Sri Lanka has an ESG Relevance Score of ‘5’ for Political Stability and Rights as well as for the Rule of Law, Institutional and Regulatory Quality and Control of Corruption. These scores reflect the high weight that the World Bank Governance Indicators (WBGI) have in our proprietary Sovereign Rating Model (SRM). Sri Lanka has a medium WBGI ranking in the 45th percentile, reflecting a recent record of peaceful political transitions, a moderate level of rights for participation in the political process, moderate institutional capacity, established rule of law and a moderate level of corruption.
ESG – Creditor Rights: Sri Lanka has an ESG Relevance Score of ‘5’ for Creditor Rights, as willingness to service and repay debt is highly relevant to the rating and is a key rating driver with a high weight. The affirmation of Sri Lanka’s LTFC IDR at ‘RD’ reflects a default event.”
High Commissioner of the Islamic Republic of Pakistan to Sri Lanka Major General (Retd) Nayyar Naseer met with the Prime Minister Dr. Harini Amarasuriya at Temple Trees on 30th April
Welcoming the High Commissioner of the Islamic Republic of Pakistan to Sri Lanka, the Prime Minister expressed sincere appreciation for the continued support and cooperation extended by the Government of Pakistan to Sri Lanka, particularly the assistance provided following the Ditwah Cyclone.
Both sides reaffirmed the longstanding and cordial relations between Sri Lanka and Pakistan, which are founded on mutual respect, friendship, and shared interests.
The meeting also focused on the importance of further strengthening collaboration in key sectors such as education, tourism, and sports, with a view to enhancing people-to-people ties and creating new opportunities for cooperation reiterating Sri Lanka’s commitment to deepening bilateral engagement.
The meeting was attended by the Deputy High Commissioner of Pakistan to Sri Lanka Ms. Zunaira Latif, Secretary to the Prime Minister, Pradeep Saputhanthri, Additional Secretary Ms. Sagarika Bogahawatta, and officials from the Ministry of Foreign Affairs, Foreign Employment and Tourism.
(Prime Minister’s Media Division)
The Ambassador of Nepal to SriLanka, Dr. Purna Bahadurn Nepali paid a farewell courtesy call on Prime Minister Dr. Harini Amarasuriya on Thursday (30th of April) at Temple Trees.
During the meeting, the Prime Minister conveyed sincere appreciation for the dedicated service and valuable contributions towards strengthening the longstanding bilateral relations between Sri Lanka and Nepal during the tenure of Dr. Purna Bahadurn Nepali.
Both parties reaffirmed the longstanding bilateral relations between the two countries, which are based on shared cultural, religious, and historical linkages. The Prime Minister also reaffirmed Sri Lanka’s commitment to further deepening bilateral relations with Nepal and enhancing cooperation for the mutual benefit of both nations.
The meeting was attended by the Secretary to the Prime Minister, Pradeep Saputhanthri, Additional Secretary Ms. Sagarika Bogahawatta, and officials from the Ministry of Foreign Affairs, Foreign Employment and Tourism.
(Prime Minister’s Media Division)
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Heat Index at Caution Level in the Northern, North-central, Eastern, Sabaragamuwa, North-western provinces and in Monaragala district during the day time
Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre
Issued at 3.30 p.m. on 01 May 2026, valid for 02 May 2026.
The Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in the Northern, North-central, Eastern, Sabaragamuwa, North-western provinces and in Monaragala district during the day time.
The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.
Effect of the heat index on the human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.
ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.
Dress: Wear lightweight and white or light-colored clothing.
Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.
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Heat Index at Caution Level in the Northern, North-central, Eastern, Sabaragamuwa, North-western provinces and in Monaragala district during the day time
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