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IMF urges Lanka to diversify trade amidst global tariff risks

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Srinivasan

Sri Lanka and other small Asian economies must accelerate trade diversification or face heightened vulnerability to global tariff disputes and shifting supply chains, warned Krishna Srinivasan, Director of the Asia and Pacific Department at the International Monetary Fund (IMF).

Speaking in Colombo on the evolving global trade landscape, Srinivasan highlighted Asia’s growing exposure, particularly in the wake of tariff tensions between the United States and China. “Asia benefited a lot from trade integration, benefited a lot from openness to trade,” he said. “So much so that when tariffs were imposed by the US, Asia was subject to the highest level of tariffs.”

He cautioned that the region that gained most from open markets is now at risk of bearing the brunt of protectionist measures. For countries like Sri Lanka, he said, the message is clear: diversify or be exposed.

Srinivasan also noted that South Asia remains the least integrated sub-region in the continent. “Having greater integration with your partners within the sub-region will take you a long way,” he said. For small economies, he added, building deeper trade ties with neighbours and broadening export and production bases is essential for resilience.

Meanwhile, Sri Lanka has received a strong vote of confidence from the IMF following a high-level meeting between President Anura Kumara Dissanayake and the delegation at the Presidential Secretariat.

The visiting IMF representatives, who arrived on January 22 to assess the damage caused by Cyclone Ditwah, spent a week touring the island, engaging with affected communities and observing the impact firsthand. In a briefing, the delegation praised the government’s swift relief efforts, infrastructure restoration, and commitment to rebuilding lives, noting widespread appreciation among citizens for the administration’s handling of the crisis.



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Russian circumnavigation team arrive in Sri Lanka

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The Russian circumnavigation team, the 5 Oceans Club, made a brief stop in Sri Lanka as part of their second global sailing expedition.

The six-member crew, visited the Russian House in Colombo, on Friday, (24th April) where they shared insights from their journey.

What makes this expedition particularly inspiring is the club’s commitment to inclusivity. They actively encourage children with limb disabilities to experience the ocean and participate in sailing as equals, fostering confidence and a deep connection with nature.

The team also spoke about a specialized sailing school based in Siberia—one of Russia’s most picturesque regions—where children with such challenges are trained and introduced to maritime life. During the session, they offered a glimpse into their daily life aboard the yacht and highlighted how they integrate elements of science into their explorations, making their journey both adventurous and educational.

The crew consists of,  Dmitry Kuznetsov – (captain of the boat of the 5 Oceans Club), ⁠Vladimir Dudkin – (crew member),  ⁠Dmitry Dudkin –(cabin boy), ⁠Ksenia Kuznetsova – (cabin boy), ⁠Natalia Shahinyan – (founder of the charity foundation “Life on the Move”), ⁠Sofia Sheremet -(ward of the foundation)

 

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Heat Index at Caution Level in the  Northern, North-central, North-western, Western, Sabaragamuwa, Southern, and Eastern provinces and in Monaragala district during the day time

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Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre
Issued at 3.30 p.m. on 25 April 2026, valid for 26 April 2026.

The Heat index, the temperature felt on the  human body is likely to increase up to ‘Caution level’ at some places in the  Northern, North-central, North-western, Western, Sabaragamuwa, Southern, and Eastern 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 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 011-744649

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Sagarika derailment disrupts coastal rail line; services to resume in two days

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Railway General Manager Ravindra Pathmapriya said on Friday that re-railing operations of the derailed ‘Sagarika’ train have already commenced and that services on the Coastal Line are expected to be restored within two days.

Addressing the media, he said the Minister had instructed officials to take all necessary measures to minimise inconvenience to passengers.

Commenting on the incident, he said: “The damaged train is a significant loss for us, especially as our fleet is already limited. We have incurred this loss and hope to rectify the situation promptly. However, we will need to deploy an alternative train in its place, and discussions are currently underway.”

The ‘Sagarika’ train, operating from Beliatta to Maradana, derailed near the Wadduwa Railway Station on Friday morning (24), causing severe damage to one track of the dual-line section.

The Railway Department has since restricted services on the affected Coastal Line up to Panadura Railway Station.

Arrangements have been made to transport passengers from Panadura to South Kalutara by Sri Lanka Transport Board (SLTB) buses, from where train services will resume towards Matara and Beliatta.

Meanwhile, the Department said efforts are underway to clear the obstruction and restore at least one track by the end of the day.

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