News
IMF: Lanka must continue reforms amid global uncertainty
The International Monetary Fund on Friday (11) said that the recent external shock and evolving developments are creating uncertainty for the Sri Lankan economy, which is still recovering from its own economic crisis.
IMF Mission Chief For Sri Lanka, Evan Papageorgiou in a statement said that more time is needed to assess the impact of the global shock and how its implications for Sri Lanka can be addressed within the contours of its IMF-supported program.
“The government’s sustained commitment to program objectives is ensuring policy continuity and program implementation remains strong. Going forward, sustaining the reform momentum is critical to safeguard the hard-won gains of the program and put the economy on a path toward lasting macroeconomic stability and higher inclusive growth,” he added.
He warned that against increased global uncertainty, sustained revenue mobilization efforts and prudent budget execution in line with Budget 2025 are critical to preserve the limited fiscal space.
“Boosting tax compliance, including by reinstating an efficient and timely VAT refund mechanism, will help contribute to revenue gains without resorting to additional tax policy measures. Avoiding new tax exemptions will help reduce fiscal revenue leakages, corruption risks and build much needed fiscal buffers, including for social spending to support Sri Lanka’s most vulnerable. Restoring cost recovery in electricity pricing will help minimize fiscal risks arising from the electricity state-owned enterprise,” he said.
IMF Mission Chief For Sri Lanka, Evan Papageorgiou stressed that the Sri Lankan government has an important responsibility to protect the poor and vulnerable at this uncertain time. “It is important to redouble efforts to improve targeting, adequacy, and coverage of social safety nets. Fiscal support needs to be well-targeted, time-bound, and within the existing budget envelope.”
“While inflation remains low, continued monitoring is warranted to ensure sustained price stability and support macroeconomic stability. Against ongoing global uncertainty, it remains important to continue rebuilding external buffers through reserves accumulation,” he added.
“Discussions are ongoing, and the authorities are encouraged to continue to make progress on restoring cost-recovery electricity pricing, strengthening the tax exemptions framework, and other important structural reforms,” said the IMF Mission Chief.
The statement said that the International Monetary Fund (IMF) staff team had very productive discussions with the Sri Lankan authorities on economic performance and policies underpinning the Fourth Review under the IMF Extended Fund Facility (EFF) arrangemenAn IMF team led by Evan Papageorgiou visited Colombo from April 3 to 11, 2025.
Latest News
Flood warning issued to the Divisional Secretariat Divisions of Ganga Ihala Korale, Udapalatha, Doluwa, Udunuwara, Yatinuwara, Gangawata Korale, Harispattuwa, and Pathadumbara
Due to heavy rainfall received in the upper catchment areas of the Mahaweli River over the past few hours, there is a risk of minor flooding in the low-lying areas surrounding the Mahaweli River within the Divisional Secretariat Divisions of Ganga Ihala Korale, Udapalatha, Doluwa, Udunuwara, Yatinuwara, Gangawata Korale, Harispattuwa, and Pathadumbara.Residents living in the above mentioned areas and motorists using roads passing through these areas are urged to exercise extreme caution and remain highly vigilant regarding the prevailing situation.
Furthermore, residents living in close proximity to the Mahaweli River in these areas are advised to remain highly alert to the situation and take all necessary precautions to protect themselves from any potential flooding.The relevant disaster management authorities are requested to take all necessary measures in response to this situation.
The National Building Research Organisation [NBRO] has issued landslide Red Alerts to the districts of Kandy, Kegalle and Nuwara Eliya effective from 14:00 hrs on 20.09.2026 To 14:00 hrs on 21.09.2026
Accordingly,
LEVEL III [RED] Land Slide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Pasbage Korale in the Kandy district, Dehiowita, Aranayake, Deraniyagala, Mawanella and Yatiyanthota in the Kegalle district and Kothmale West, Kotmale East, Ambagamuwa and Norwood in the Nuwara Eliya district
LEVEL II [AMBER] Land Slide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Padukka in the Colombo district, Nagoda, Thawalama and Neluwa in the Galle district, Bulathsinhala, Palindanuwara, Walallawita and Agalawatta in the Kalutara district, Ganga Ihala Korale in the Kandy district, Bulathkohupitiya and Kegalle in the Kegalle district, Akuressa and Pitabeddara in the Matara district, Thalawakele in the Nuwara Eliya district and Pelmadulla, Ratnapura, Ayagama, Kuruwita and Ratnapura in the Ratnapura district.
LEVEL I [YELLOW] Land Slide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Seethawaka in the Colombo district, Niyagama and Baddegama in the Galle district, Mirigama in the Gampaha district, Ingiriya in the Kalutara district, Udapalatha and Yatinuwara in the Kandy district, Galigamuwa, Warakapola and Ruwanwella in the Kegalle district, Kotapola, Pasgoda and Athuraliya in the Matara district, and Eheliyagoda, Kalawana and Elapatha in the Ratnapura district.
News
Development projects can deliver results to the people more quickly when the political authority and the public service work together towards a common goal – PM
Prime Minister Dr. Harini Amarasuriya stated that development projects can deliver results to the people more quickly when the political authority and the public service work together towards a common, people-oriented objective.
The Prime Minister made these remarks while participating in a discussion held on Friday [September 18] at the Western Province Council Auditorium to review the progress of the development project to rehabilitate Rathmalana Kandawala Road and the drainage system on either side of the road, within the Dehiwala–Mount Lavinia Municipal Council limits in the Colombo District.
The project, which commenced on September 10, 2026, is scheduled to be completed before June 30, 2027. Implemented by the Provincial Road Development Authority (PRDA), the project includes the construction of a bridge at a cost of Rs. 64 million, the rehabilitation of the drainage system at a cost of Rs. 930 million, and the rehabilitation of the road at a cost of Rs. 115 million.
The Prime Minister also paid special attention to the progress of the responsibilities assigned to the Western Province Council, the Irrigation Department and the Ratmalana Divisional Secretariat in accordance with decisions taken at the previous committee meeting. Attention was also given to the current status of the plans being carried out by the Sri Lanka Land Development Corporation (SLLRDC), as well as the construction and maintenance activities being undertaken by the Provincial Road Development Authority (PRDA).
Commending the expedite and commendable progress of the project, the Prime Minister particularly appreciated the commitment demonstrated by officials of the relevant government institutions to work in close coordination with one another and in collaboration with the political authority.
The Prime Minister also emphasised the importance of taking measures well in advance to control flooding and minimise its impact on Colombo and several other districts in view of the rainy weather that may affect the Western Province during the latter part of this year.
The meeting was attended by the Chairman of the Colombo District Coordinating Committee and Member of Parliament Lakshman Nipuna Arachchi, Chairperson of the Ratmalana Divisional Coordinating Committee and Member of Parliament Samanmalee Gunasinghe, Chairman of the Roads Sub-Committee of the Colombo District Coordinating Committee Dewananda Suraweera, Mayor of the Dehiwala–Mount Lavinia Municipal Council Parakum Shantha, Chief Secretary of the Western Province K.G. Pradeep Pushpakumara, along with a number of government officials.
[Prime Minister’s Media Division]
Flood warning issued to the Divisional Secretariat Divisions of Ganga Ihala Korale, Udapalatha, Doluwa, Udunuwara, Yatinuwara, Gangawata Korale, Harispattuwa, and Pathadumbara
Landslide Red Alerts issued to the districts of Kandy, Kegalle and Nuwara Eliya
Shafali dazzles with 49-ball unbeaten 100 and India march into Asian Games final
Development projects can deliver results to the people more quickly when the political authority and the public service work together towards a common goal – PM
Landslide Early Warnings issued to the Districts of Colombo, Galle, Kalutara, Kandy, Kegalle, Matara, Nuwara Eliya and Ratnapura
Chamari Athapaththu’s unbeaten 83 leads Sri Lanka into final
‘Dates have the highest sugar content to fight Coronavirus’
Sunday Island 27 December – Headlines
#SundayIsland 17th December – Headlines
Sunday Island – 28th March
Sunday Island Headlines – 21 March
Sunday Island – 21st February – Headlines
-
Opinion7 days agoFrom Galkissa (Mount Lavinia) to Tambuttegama
-
News4 days agoUS embassy won’t comment on IGP’s probe into joint drug raid
-
Features6 days agoThe emptying university: why are academics leaving?
-
Features7 days agoSri Lanka’s university crisis: Brain drain and union action demand urgent reform
-
News3 days agoBid for Basil’s extradition nears final stage: Police
-
Business4 days agoAll-new Bolero MaXX unveiled in Sri Lanka
-
Opinion7 days agoAshraff: From the SLMC towards the National Unity Alliance
-
Editorial7 days agoMuscle flexing, astroturfing and dog-and-pony shows