News

No restructuring of domestic debt, says CB Governor

Published

4 years ago

2022/04/30

Dr. Weerasinghe addressing the Committee of the Ceylon Chamber of Commerce

External debt restructuring remained a top priority for the Sri Lankan government, but domestic debt in the form of government securities and Sri Lanka development bonds would not be restructured, Central Bank Governor Dr. Nandalal Weerasinghe announced on Thursday (28).

Dr. Weerasinghe said so, speaking at a meeting of the Committee of the Ceylon Chamber of Commerce, as the Guest Speaker. He also provided an update on the progress made during the discussions with the International Monetary Fund and World Bank, last week.

Noting that encouraging progress had been made towards establishing a macro-fiscal policy framework and initiating structural reforms, Governor Dr. Weerasinghe expressed said staff-level agreement with the IMF was likely to be reached within the next two months.

Dr. Weerasinghe also announced that additional measures would be implemented to address urgent economic concerns. The measures include introducing regulations to encourage USD flows currently transacting in the informal market to be channeled through the formal banking system. As a result of policy measures already introduced by the Central Bank and the government, he said he was of the view that expenditure on imports would further decline to more sustainable levels.

The Governor also highlighted the need to strengthen the social safety net due to the rising cost of living. To this effect, multilateral agencies such as the World Bank would be looking to reallocate funds committed for projects towards assisting vulnerable segments of the population, he stated.

Dr. Weerasinghe said that while expediting IMF negotiations and implementing sustainable economic policy reforms being the main priority, IMF action will continue regardless of the developments on the political landscape. He also stressed that all creditors would be treated equally in the debt-restructuring process. The Governor sought the assistance of the private sector to implement measures to stabilise the economy.

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Sun directly overhead Mannar, Periyamadu, Puliyankulam, Welioya and Pulmoddai about 12.11 noon today (30)

Published

6 hours ago

2026/08/30

Priyan

The sun is going to be directly over the latitudes of Sri Lanka from 28th of August to 07th of September due to its apparent southward relative motion.

The nearest places of Sri Lanka over which the sun is overhead today (30) are Mannar, Periyamadu, Puliyankulam, Welioya and
Pulmoddai about 12.11 noon.

News

Lanka tracks 11 US-sanctioned Iranian tankers off coast

Published

8 hours ago

2026/08/30

Thilina Walpola

(AFP) Sri Lanka’s maritime authorities were monitoring a fleet of 11 US-sanctioned Iranian oil tankers just off the island’s southern coast, the foreign minister said Wednesday.

The tankers were spotted close to the Galle harbour where an Iranian frigate, IRIS Dena, was sunk by a US submarine in March, killing 104 sailors. Sri Lanka’s navy rescued 32 Iranian sailors from that frigate.

Iranian vessels have been in limbo, unable to return to their home port because of a US blockade.

Sri Lanka’s Foreign minister Vijitha Herath said the tankers were in international waters where they had freedom of navigation.

“These ships are away from our territorial waters… we have no hold on them, nor have we facilitated them,” Herath told AFP.

The military deployed reconnaissance aircraft and patrol boats to monitor the vessels outside Sri Lanka’s 12-nautical-mile territorial waters, a military official told AFP on condition of anonymity.

“There is no indication of any ship-to-ship transfer of oil or illegal discharge of pollutants, so there is no basis for Sri Lankan authorities to take action against them,” the official said.

Many Iranian merchant vessels moved east towards the Strait of Malacca and Singapore due to US sanctions, while several remained near Sri Lankan waters, authorities said.

Sri Lankan officials said Washington had not formally notified Colombo about sanctioned Iranian-flagged vessels

News

House to debate abolition of Chief of Defence Staff post

Published

8 hours ago

2026/08/30

Thilina Walpola

Parliament is to debate next Wednesday the Government’s proposal to abolish the post of Chief of Defence Staff (CDS), with the Second Reading of the Chief of Defence Staff (Repeal) Bill scheduled for September 9.

The Bill seeks to repeal the Chief of Defence Staff Act No. 35 of 2009, which was introduced shortly after the end of the armed conflict.

According to Secretary General of Parliament Kushani Rohanadeera, Parliament will meet from September 8 to 11, with the business for the week approved by the Committee on Parliamentary Business chaired by Speaker Dr. Jagath Wickramaratne.

The debate on the Chief of Defence Staff (Repeal) Bill is scheduled to take place from 11.30 a.m. to 5 p.m. on Wednesday, following questions to the Prime Minister and other parliamentary business.

The CDS post was established under the 2009 Act as part of the country’s higher defence command structure.

On Tuesday, September 8, the House will consider two Orders published in Extraordinary Gazettes under the Motor Traffic Act from 11.30 a.m. to 5 p.m., followed by an Opposition motion at the adjournment.

On Thursday, September 10, Parliament will debate a Resolution under the Women’s Empowerment Act.

The final sitting day of the week, Friday, September 11, has been allocated from 11.30 a.m. to 5.30 p.m. for several Private Members’ Motions.

The motions will cover issues including regulation of the petroleum, fuel and water industries, measures to increase the birth rate, protection of the Diyagama Forest, pension deductions affecting Pirivena teachers, food-crop cultivation in mountainous areas, development of the Kithul industry and the establishment of a Faculty of Medicine at South Eastern University.

Questions at the adjournment will be taken up at the end of each sitting day.