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President: Those who try to dictate terms to IMF have Montessori-level knowledge 

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2 years ago

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Ranil

President Ranil Wickremesinghe told Parliament yesterday that Sri Lanka was set to come out of bankruptcy by securing of the second tranche of the International Monetary Fund’s (IMF’s) Extended Fund Facility.

“We will now focus on securing the foreign aid that was suspended after we declared bankruptcy,” the President said, making a special statement to Parliament to officially announce the IMF decision to grant the second tranche under the EFF.

He said that Sri Lanka still has a difficult journey ahead.

“We have travelled through a suspension bridge and we have no choice but to continue our journey through this bridge,” he said, stressing that Sri Lanka has no choice but to work with the IMF.

“We have managed to strike a deal with most of our debtors for restructuring of debts. However, we are faced with the task of securing a deal with our private debtors who are mainly bond holders,” he said.

President Wickremesinghe said that the conditions imposed by the IMF on Sri Lanka, can only be removed by continuing along the same path and strengthening the country’s economy.

He expressed optimism that the IMF now admits that Sri Lanka has taken decisive steps to overcome the state of bankruptcy.

“Now they [IMF] admit that we have taken decisive steps to save ourselves from the label of a ‘bankrupt state’. I am humbled to be able to lead this proud journey”, the President mentioned.

“I took over a bankrupt country last year. No leader came forward to take over that bankrupt country. Everyone was afraid to accept this challenge. None of the heroes who are now addressing the Parliament had the courage to come forward. I accepted that challenge…”

“All I had was determination and dedication. Not a single MP representing my party was in the Parliament. But the majority of MPs supported me although they were also insulted and mocked. The people of the country also supported me. They faced various hardships and supported this journey”, he added.

The President said that he highlighted that the country’s inflation prevailed at 70% at the time he took over the country, but it has now been brought down to 1.5%.

“At the time the depreciation of the rupee had risen to 80%. The value of the rupee increased to Rs. 360 per dollar. Now it has stabilized at the level of Rs. 325 – Rs. 330 per dollar.”

Moreover, Wickremesinghe said: “We have no other path but this path. There are two main factors in this path – having access to IMF assistance and debt restructuring. We handled both those factors properly. So we have been able to obtain good results.”

Furthermore, he emphasized that with the approval of the second tranche from the IMF, the country will receive multiple advantages including USD 150 million from the World Bank for deposit insurance, which will make the financial sector tremendously strong.

“This makes the banking and financial sector 100% secure”, the President said.

“Foreign investors can invest in Sri Lanka without any doubt then. Our Letters of Credit are accepted at the international level again.”

The President also admitted that the government is aware that a certain group of the society has faced hardships as a result of imposing taxes including VAT, adding that the government had no other choice.

“Some parties question the purpose of a government to govern the country if it has to be subjected to the conditions of the IMF. They claim that they will impose conditions on the IMF once they come to power. These are just childish stories. Only the people who have ‘Montessori-level knowledge’ about the economy can tell such stories”, he added.

“Remember, we can get out of the IMF conditions only if we continue on this path and build a strong economy under these conditions”, the President said.


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Noritake Company Limited donates Rs. 20 million to the Government’s disaster relief programme

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7 hours ago

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2025/12/19

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Noritake Company Limited of Japan has donated Rs. 20 million to the Government’s disaster relief programme.

The cheque was presented to Prime Minister Dr. Harini Amarasuriya by the Managing Director of Noritake Lanka Porcelain (Pvt) Ltd, Mr. Kenji Obara, at the Parliament Complex on 18 December.

Minister of Public Administration, Provincial Councils and Local Government  Chandana Abeyratne, Director and General Manager of Noritake Lanka Porcelain (Pvt) Ltd, Ms. Sujatha Egodagedara, and Assistant General Manager Captain M. M. Athula Rohan Senarath also participated in the event.

[Prime Minister’s Media Division].

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GovPay Concludes 2025 with Rs. 2 Billion in digital transactions, marking a major milestone in Sri Lanka’s digital transformation

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10 hours ago

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2025/12/19

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GovPay, Sri Lanka’s Government Digital Payment Platform concluded the year 2025 by surpassing Rs. 2 billion in total digital transaction value, marking a major milestone in the country’s digital transformation journey. Notably, GovPay doubled its collections from Rs. 1 billion to Rs. 2 billion in just 45 days, reflecting rapid adoption, growing public trust, and strong institutional uptake across the public sector.

Since its official launch on 07 February 2025, GovPay has processed over 69,000 digital transactions, enabling payments for 3,372 government services across 215 government institutions. This accelerated growth underscores the increasing reliance on secure, convenient, and transparent digital payment mechanisms by both citizens and government institutions.

Implemented under the strategic leadership of the Ministry of Digital Economy, the Information Communication Technology Agency of Sri Lanka (ICTA) in collaboration with LankaPay, GovPay has emerged as a key pillar of Sri Lanka’s national digital public infrastructure. The platform plays a critical role in advancing financial inclusion, improving service efficiency, and strengthening transparency in public service delivery.

A key milestone in 2025 was the launch of the Online Traffic Fine Payment System through GovPay on 10 April 2025. Since its introduction, the system has facilitated over 50,000 digital traffic fine payments, generating more than Rs. 66 million in revenue. The service is currently operational across the Western, Southern, Northern, North Western, and North Central Provinces, including the Southern, Katunayake, and Central Expressways. While the island wide rollout planned for December 2025 was postponed due to adverse weather conditions and disaster-related challenges, ICTA, in coordination with the Sri Lanka Police and with the support of LankaPay, has agreed to complete the nationwide rollout in January 2026, with a landmark launch in the Central Province.

GovPay has continued to expand its reach across local authorities, including Divisional Secretariats, Municipal Councils, Urban Councils, and Pradeshiya Sabhas, significantly enhancing access to government services in citizens’ day-to-day activities. The platform has enabled digital transactions for all local authorities in the Northern Province and all Divisional Secretariats in the Southern Province, with a national target to digitize all local authorities by 2026.

Institutions such as Kotelawala Defence University, Sri Lanka Police, the Department of Technical Education and Training, the University of Moratuwa, and the Sri Lanka Atomic Energy Board emerged as some of the highest contributors to GovPay in 2025. Strong adoption by the education sector in particular highlights the readiness of younger generations to embrace digital transformation and demonstrates the platform’s scalability and reliability.

Beyond routine government services, GovPay also supported national disaster response efforts. Since 30 November 2025, the platform facilitated digital donations to the Rebuild Sri Lanka Disaster Relief Fund, collecting almost Rs. 14 million across 909 transactions, including contributions from Sri Lankans living abroad, ensuring transparency and ease of contribution during a national emergency.

As GovPay continues to grow, ICTA is working on revamping www.govpay.lk with enhanced features to support institutional onboarding, service management, and reporting capabilities. With Rs. 2 billion in digital collections achieved within its first year of operation and the last Rs. 1 billion reached in just 45 days, GovPay stands as a strong testament to the impact of coordinated digital transformation, reinforcing Sri Lanka’s vision of achieving a USD 15 billion digital economy by 2030.

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Swift restoration of Religious, Cultural and Archaeological sites damaged by the disaster

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10 hours ago

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2025/12/19

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A discussion on the restoration of religious, cultural and archaeological sites affected by Cyclone Ditwah was held on Thursday (18) afternoon  at the Presidential Secretariat under the patronage of the Minister of Buddhasasana, Religious and Cultural Affairs, Dr. Hiniduma Sunil Senevi, with the participation of the Most Venerable Mahanayaka Theras of the three Chapters and other religious leaders.

Addressing the meeting, the Minister stated that more than one thousand religious, cultural and archaeological sites across the country had sustained damage due to the disaster. He assured that prompt measures would be taken to commence restoration work and reinstate these sites to their original condition without delay.

The Minister further stated that all restoration work is expected to be carried out while preserving the historical and cultural authenticity of the sites, under the guidance of the Most Venerable Maha Sangha and other religious leaders, with the active participation of all relevant stakeholders.

The Secretary to the Ministry of Buddhasasana, Religious and Cultural Affairs,  Prince Senadheera, noted that arrangements are currently underway to mobilize the required human resources and financial assistance for the restoration process. He also stated that steps have been initiated to recruit the necessary technical officers on a contractual basis to conduct technical assessments of the affected sites. In addition, plans are in place to involve officials of the Ministry as well as officers of its affiliated institutions in carrying out these restoration activities.

The Secretary to the Ministry further stated that generous financial contributions from donors are currently being received to the fund established under the Ministry of Buddhasasana, Religious and Cultural Affairs for the reconstruction of damaged religious places of worship.

The meeting also considered continuing the gathering as an interfaith committee to oversee the restoration activities. Accordingly, it was agreed that the progress of construction work would be regularly reported to the committee and that the committee would be entrusted with mobilizing support for the fund in a transparent manner, including assistance from foreign donors, international organizations, Buddhist organizations and other religious institutions.

It was noted that the Central Cultural Fund has identified eight sites that were severely damaged by the disaster and are difficult to restore through conventional construction methods, requiring the specialized expertise of archaeologists, mural conservation specialists, and architects. The cost of restoring these sites has been estimated at over Rs. 500 million.

It was further decided that the committee would meet once a month to review and discuss the progress of these restoration activities.

Religious leaders commended the Government’s intervention in providing relief to those affected by the disaster and in restoring livelihoods, expressing appreciation for the effective management of the response. They also praised the Government’s prompt action in initiating restoration work at damaged religious sites.

The event was attended by several eminent religious leaders, including the Registrar of the Asgiri Maha Viharaya, Venerable Dr. Medagama Dhammananda Nayaka Thero; the Registrar General of the Amarapura Siri Saddhammawansa Maha Nikaya, Venerable Balapitiye Siri Seevali Nayaka Thero; the General Secretary of the Sri Lanka Ramanna Maha Nikaya, Venerable Attangane Sasanarathana Nayaka Thero; the Chief Secretary of the All-Ceylon Shasanarakshaka Board, Venerable Professor Mugunuwela Anuruddha Nayaka Thero; and the Tri-Nikaya Maha Sangha, led by the Chairman of the National Bhikkhu Front, Venerable Wakamulle Uditha Thero.

Also in attendance were Hindu religious leaders, including Venerable Swami Aksharatmananda, representatives of the Catholic Church and the National Christian Council, including Father Alec Roy Samantha Fernando, All-Ceylon Muslim religious leaders, including the General Secretary of the Jamiatul Ulama Organization, Ash-Sheikh Arkam Nooramith, Deputy Minister of Religious and Cultural Affairs,  Mohamed Muneer , as well as senior officials of the Ministry of Buddhasasana, Religious and Cultural Affairs and relevant line institutions.

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