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Lanka to lend US$2.5bn to US and top-rated borrowers in 2023 under IMF deal: analysis

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ECONOMYNEXT – Sri Lanka is projected to lend 2,533 million US dollars mainly to the US and Euro areas during an International Monetary Fund deal in 2023 including a mandatory 1.4 billion US dollars collected from exports and remittances, according to official documents.

Sri Lanka is expected to get two tranches of 331.2 million dollar (254 million special drawing rights each) in March and September 2023 from the IMF.In 2023 Sri Lanka has to repay 256.4 million dollars from an earlier IMF loan taken during an earlier currency crisis.

Net inflows from the IMF would be 406.12 million US dollars in 2023 if the first review is completed in September 2023.Sri Lanka has committed to collect at least 1.4 billion US dollars from remittances and exports and lend to the US and other developed nations during 2023 under the IMF deal.

A large volume has already been collected. An ad hoc peg is now operated under the IMF deal to buy dollars and export to the West, as ‘below-the-line outflows. Sri Lanka’s foreign reserves are usually loaned to highly rated sovereign or sovereign linked borrowers, mainly in the US.

But there have been amounts of Euro assets in Sri Lanka’s foreign reserves at times, triggering forex losses when the dollar to Euro parity changed.Under the IMF program there is a performance criterion to increase net international reserves by 1,948 million dollars during 2023.

Sri Lanka is also expected to repay a 200 million US dollar swap to Bangladesh during 2023, which will also raise the NIR.At the moment Sri Lanka’s central bank is in debt after borrowing from India, Bangladesh, India including on Asian Clearing Union dues as well as the IMF. Year end net international reserves would still be negative.

Sri Lanka’s gross reserves are expected to rise by 2.5 billion US dollars to 4.4 billion US dollars in 2023 indicating that the country will lend 2.5 billion US dollars to the US and other highly rated borrowers. It may include re-invested interest coupons.

Sri Lanka is also expected to get 650 million dollars from the Asian Development Bank and 250 million dollars from the World Bank as part of partner support for the IMF deal. Outside of core monetary reserves linked to reserve money, balances in Treasury accounts are also counted as forex reserves.



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Indonesian Navy Sailing Ship KRI BIMA SUCI – 945 concludes official goodwill visit to Sri Lanka

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The Indonesian Navy Sailing Ship KRI BIMA SUCI – 945 departed the island on 18 Apr 2026, marking the successful completion of her official goodwill visit.

The ship was accorded a formal farewell by the Sri Lanka Navy in accordance with naval traditions at the Port of Colombo.

The visit also served as a valuable educational platform, as officer under-trainees and other personnel of the Sri Lanka Navy had the opportunity to conduct an observational
tour of the sailing vessel. This exchange of knowledge was complemented by a series of events designed to foster professional and social bonds.

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

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Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre
Issued at 3.30 p.m. on 18 April 2026, valid for 19 April 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, North-western, Western, Sabaragamuwa, Eastern
and Southern provinces and in Monaragala district.

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 011-7446491.

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‘Agents of the devil’ seeking to block Easter probe, Cardinal warns

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Warning that “agents of the devil who wish to hide the truth behind a wall of political posturing” were attempting to obstruct investigations into the Easter Sunday terror attacks, the Catholic Church has called for intensified public support and prayer to ensure justice for victims.

In a message issued ahead of the seventh anniversary of the April 21, 2019 bombings, Colombo Archbishop Cardinal Malcolm Ranjith said there were ongoing efforts by various forces to derail credible inquiries into the coordinated attacks that claimed 278 lives and left nearly 500 injured.

The statement noted that many of those killed had been attending Easter Sunday Mass when suicide bombers struck churches, including St. Anthony’s Shrine, Kochchikade, St. Sebastian’s Church, Katuwapitiya, and Zion Church, Batticaloa, causing widespread devastation and long-term suffering among survivors.

Seven years on, the Caridnal said, critical questions remain unanswered, including who masterminded the attacks, their motives, and why places of worship were targeted on Christianity’s most sacred day.

Full text of Cardinal Malcolm Ranjith’s message: On 21st April 2026, the Church in Sri Lanka will be commemorating the 7th Anniversary of the Easter Sunday bomb blasts, which killed 278 of our fellow human beings and brethren in the faith in the most brutal fashion. Most of these people had come to our Churches for Easter Sunday Masses and prayer services. Many families were rendered destitute. Nearly 500 people were injured and some of them carry life long disabilities, suffering from the after effects of these blasts. St. Anthony’s Church Kochchikade and St. Sebastian’s Church Katuwapitiya of the Catholic community and the Zion Church in Batticaloa were, quasi totally destroyed. The economy of the country suffered immensely with untold problems affecting many families, ever since then. However much we try to console the families of these victims, it is something that we humans are unable to achieve as only the Lord can truly console them.

Besides, we still do not know who murdered these people and caused so much of suffering to many others, and why and for what purpose they chose our Churches on a day that was most sacred to us to organize these attacks. After repeated pleas by the Catholic Church, now at last, the incumbent government and the security establishment, seem to be holding a credible inquiry into this episode of mass murder in order to find out who was really behind it.

And there are many forces actively seeking to obstruct these inquiries and divert the direction of the inquiry in an aimless fashion in order to hide the truth behind these attacks. They are nothing but the agents of the devil who wish to hide the truth behind a wall of political posturing. We need to storm Heaven and ask the Lord to strengthen the hands of the investigators to find out what really happened and who was behind this mass murder as well as why it was done to innocent people who had nothing to do with politics.

Hence, I call upon all of you to kindly storm Heaven with your prayers calling upon the Lord to help us find out what really happened that most tragic day. And so, I am declaring Sunday, the 19th of April 2026, as a special day of prayer for this purpose. I shall be most grateful to every one of you, beloved brethren, if you could recite special prayers in all the parishes of the Archdiocese at Sunday Mass on that day and offer prayers at home too for the success of these investigations. The special prayer for truth and justice for the victims of the bomb attacks, already approved by the Catholic Bishops’ Conference, could also be recited. I call upon all our Catholic devotees to join us in this effort.

Let us stand together firmly behind the efforts to find out the truth. Let us not be deceived by attempts of different people to hide the truth or divert attention in all kinds of directions in order to confuse the public.

May the Blessed Mother, our Lady of Lanka, intercede for us in this most important matter.

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