News

IMF in talks towards Lanka programme review

Published

2 years ago

2024/10/27

By INDIKA SAKALASOORIYA IN WASHINGTON

ECONOMYNEXT –The International Monetary Fund in talks with Sri Lanka’s new administration on its priorities and is working towards the next review to continue its Extended Fund Facility program with the island.

A Sri Lankan delegation, led by the Central Bank Governor, the Finance Ministry Secretary, and the President’s Advisor on economic matters, Duminda Hulangamuwa, is currently engaged in these talks.

“Under the programme we have elements which address some of the priorities of the new government including social protection and so on,” Krishna Srinivasan, Director of the IMF’s Asia Pacific Department said in Washington.

“But the details of the programme are continuing and they’ll be happening this week in Washington.

“And we are encouraged by what we’ve heard so far and hope that we can move fast toward the third review which should start soon.”

The third review of the 48-month bailout package, originally scheduled for September on June economic data, was postponed due to Sri Lanka’s presidential election, which saw Anura Dissanayake elected as the country’s new president.

Srinivasan, who led a high-level IMF delegation to Colombo following the election of the new president, said there was consensus with Sri Lanka authorities to safeguard and build on the hard-won gains achieved under the existing programme.

With the IMF’s help, Sri Lanka has reached an agreement with the country’s official creditors, and an in-principle agreement with the private creditors.

The next step for the country would be to reach a formal agreement with all the creditors.

“That’s a big step forward,” Srinivasan said. “Of course that’s not the end. There is a lot more work to be done with regards to the continuity of reforms. There is a long way to go before you are on a path of strong and sustainable recovery,”

Sri Lanka has made significant progress from the depths of the crisis it faced in 2022, achieving positive growth over the last four quarters. However, the recovery has been uneven, particularly impacting the poor and vulnerable groups, who continue to bear the brunt of economic challenges.

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News

Animal Welfare Draft Bill to be Gazetted

Published

11 hours ago

2026/06/24

Priyan

A specialists committee has been appointed by the Secretary to the Ministry of Agriculture, Livestock, Lands and Irrigation adhering to the decision of the Cabinet of Ministers dated 29.12.2025 for submitting appropriate recommendations analyzing the provisions of the draft bill formulation in regard to Animal Welfare.

Based on the recommendations of the said Committee, the Legal Draftsman has been instructed at the meeting of the Cabinet of Ministers held on 18.05.2026 to prepare the final bill on the animal welfare.

Wherefore, the Legal Draftsman has formulated the draft bill and the clearance of the Attorney General has been received in the connection.

Accordingly, the Cabinet of Ministers granted approval to the resolution furnished by the Minister of Agriculture, Livestock, Lands and Irrigation to publish the said draft bill in the
Government Gazette Notification and subsequently forward the same to the Parliament for its concurrence.

News

Legal provisions on marking voters using indelible ink during elections removed

Published

12 hours ago

2026/06/24

Priyan

Under the legal provisions for elections in this country since 2004, it is mandatory for voters who come to mark their votes to verify their identity through a valid identity card, and it is also mandatory for all such voters to be marked with an appropriate mark using indelible ink. The dual purpose of these two functions is to prevent a voter from voting more than once in a single election.

It has been observed that having to follow two different
methods at the same time to achieve the same objective hinders the efficiency of the duties performed at the polling stations and also incurs additional costs to the government.

Therefore, it has been deemed appropriate to remove the legal provisions regarding the use of indelible ink and marking the voter with the appropriate mark from all election acts.

Accordingly, the development activities of the province, as well as national security, will benefit. Therefore, the Cabinet of Ministers has approved the resolution furnished by the
President to take necessary steps to remove the legal provisions

• Section 36 of the presidential Election Act, No 15 of 1981
• Section 38 of the Parliamentary Election Act, No 01 of 1981
• Section 36 of the Provincial Council Election Act, No 02 of 1988
• Section 53 A of the Local Government Elections Ordinance (262 Authority)
• Section 21 of the Referendum Act No 7 of 1981

News

Showers will occur in the Western, Sabaragamuwa and North-western provinces and in Galle, Matara, Kandy and Nuwara-Eliya districts

Published

12 hours ago

2026/06/24

Priyan

WEATHER FORECAST FOR 24 JUNE 2026
Issued at 05.30 a.m. on 24 June 2026 by the Department of Meteorology

Several spells of showers will occur in the Western, Sabaragamuwa and North-western provinces and in Galle, Matara, Kandy and Nuwara-Eliya districts. Showers or thundershowers may occur at a few places in the Uva province and in Ampara and Batticaloa districts after 2.00 p.m.

Fairly strong winds about (30-40) kmph can be expectedat times over the Western slopes of the central hills, the Northern, North-central, North-western and Southern provinces and in Trincomalee district.

The general public is kindly requested to take adequate precautions to minimize damage caused by temporary localized strong winds and lightning during thundershowers.