News
New IMF funds for Sri Lanka may be delayed as review sees revenue shortfall

The International Monetary Fund did not reach a staff-level agreement with Sri Lanka in its first review under a $2.9bn bailout package, due to a potential shortfall in government revenue generation, Al Jazeera has reported, quoting the lender.
Speaking after a two-week visit to the country, IMF delegation head Peter Breuer on Wednesday said a second tranche of about $330m under a lending programme would only be released after the IMF reaches a staff-level agreement, and there was no fixed timeline on when that would take place, Al Jazeera has said.
“Sri Lanka has made commendable progress in implementing difficult but much-needed reforms. These efforts are bearing fruit as the economy is showing tentative signs of stabilisation,” the IMF said in a statement.
“The team will continue its discussions in the context of the First Review with the goal of reaching a staff-level agreement in the near term.”
The IMF delegation said despite early signs of stabilisation, full economic recovery is not yet assured and growth momentum remains subdued.
In the last six months, Sri Lanka has seen its runaway inflation drop to 1.3 percent in September, its currency appreciate by about 12 percent and foreign exchange reserves improve.
But the island has struggled to improve its revenue with additional measures likely to be taken in the upcoming budget in mid-November.
Despite revenue mobilisation having improved relative to last year, the IMF said revenue was expected to fall short of initial projections by nearly 15 percent by year end.
“While partially due to economic factors, the onus of fiscal adjustment would fall on public expenditure if there were no efforts to recoup this shortfall. This could weaken the government’s ability to provide essential public services and undermine the path to debt sustainability,” said the statement.
Sri Lanka’s international bonds were unmoved by the news, trading slightly higher on Wednesday. The bonds are still in deeply distressed territory, trading between 46-48 cents to the dollar, Tradeweb data showed.
The global lender said Sri Lanka would need to strengthen tax administration, remove tax exemptions, and actively eliminate tax evasion to increase revenues and signal better governance.
Sri Lanka accepted offers to exchange about $10bn worth of defaulted local debt for new bonds, taking it a step towards meeting debt restructuring requirements ahead of the IMF review.
Sri Lanka has also held multiple rounds of talks with bondholders and bilateral creditors including Japan, China, and India to reach an agreement to rework its foreign debt after suspending repayments in May last year.
News
Colombo Metropolitan Region, Eastern Development Plan and the Greater Hambantota Project discussed in detail

A meeting between Secretary to the President, Dr. Nandika Sanath Kumanayake and relevant ministry officials was held on Tuesday (08) at the Presidential Secretariat regarding the development plans to be implemented in Sri Lanka under three zones, in collaboration with the Surbana Jurong Institute of Singapore and 18 Ministries.
During the meeting it was discussed in detail regarding the plans for the Colombo Metropolitan Region, Eastern Development Plan and the Greater Hambantota Project. The officials from Singapore-based urban planning and infrastructure consultancy Surbana Jurong also joined the discussion virtually.
Progress reports on the three projects were reviewed in detail and Dr. Kumanayake instructed the officials to identify any deficiencies and finalize the necessary actions within the next two weeks.
The discussion also addressed delays in securing necessary approvals for investments under the existing regulatory framework, as well as the urgent need to revise certain legislative instruments to better facilitate national development.
The meeting was attended by Secretary to the Prime Minister G.P. Saputhanthri, Senior Additional Secretary to the President Russel Aponsu, Secretary to the Ministry of Urban Development, Construction and Housing U.G. Ranjith Ariyaratne, and several senior officials from the respective ministries.
News
Heat index at ‘Caution level’ in Northern, North-central, Eastern, North-western, Western provinces and Monaragala district today [09]

The Natural Hazards Early Warning Centre of the Department of Meteorology has issued a Warm Weather Advisory for 09 April 2025
The public are warned that the Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in Northern, North-central, Eastern, North-western, and Western 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 below 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.
News
Sajith asks govt. to submit its MoUs with India to Parliament

Prof. Jayasumana raises possibility of Lanka ending up with “Quad’
Opposition and SJB Leader Sajith Premadasa has said it is the responsibility of the NPP government to submit the MoUs/agreements that were recently signed with India to the respective Sectoral Oversight Committees (SOCs).
Premadasa said so when The Island raised the issue with him. He said that during his meeting with Premier Modi his focus had been on opening the Indian market for Sri Lankan garment exports.
The seven MoUs/agreements signed on 05 April included defence cooperation, energy, Eastern Province development and digitalisation.
Meanwhile, the Vice President of Sarvajana Balaya and former lawmaker Prof. Channa Jayasumana said that the government owed an explanation whether the recently signed MoU on defence cooperation directly or indirectly attached Sri Lanka to the Quad security alliance, consisting of the US, Australia, Japan and India.
The former SLPPer raised the issue at a meeting held at Boralesgamuwa on Monday (07) in support of Sarvajana Balaya candidates contesting the May 6 LG polls.
Prof. Jayasumana urged that the MoU on Defence Cooperation be placed before Parliament, and the people, without further delay. The academic who served as State Health Minister during President Gotabaya Rajapaksa’s tenure said that President Anura Kumara Dissanayake’s foreign policy direction should be dealt with.
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