News
SL’s second review: IMF Executive Board to meet on 12 June
The International Monetary Fund (IMF) on Thursday (06) asserted that Sri Lanka could soon reach agreements with external commercial creditors consistent with programme parameters.
“So overall we assess that there has been sufficiently strong progress on the debt restructuring front,” Julie Kozack, Director of the IMF Communications Department, told the media.
On March 21st, the IMF staff and the Sri Lankan authorities reached staff-level agreement on economic policies to conclude the second review of the economic reform programme and also the 2024 Article IV Consultation.
Kozack confirmed that on June 12th, the IMF Executive Board will meet to discuss Sri Lanka’s second review and the Article IV Consultation.
“In Sri Lanka, we do see macroeconomic policy reform starting to bear fruit.” Commendable outcomes include rapid disinflation, robust reserve accumulation, and initial signs of economic growth, while preserving stability of the financial system, she said responding to questions on Sri Lanka.
The IMF spokesperson said that the programme performance is strong with most quantitative and structural conditionality for the second review met or implemented with delay, and reforms are still ongoing in some areas.
“The next steps on the debt restructuring are indeed to conclude negotiations with external commercial creditors and to implement agreements in principle with the official creditors. The domestic debt operations are largely completed. Debt restructuring discussions are continuing.”
More specifically, she said the authorities have been holding extensive discussions with external official creditors regarding an MOU with the official creditor committee and the final agreements with the Export Import Bank of China.
Discussions with external bondholders continue with the aim of reaching agreements in principle soon, Kozack said, adding that negotiations with the China Development Bank are also at an advanced stage.
“There is a strong expectation that agreements with external commercial creditors consistent with programme parameters will be reached soon. So overall we assess that there has been sufficiently strong progress on the debt restructuring front.”
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Death toll rises to 607, missing persons reduce to 214 at 1800hrs today (5)
The situation report issued by the Disaster Management Centre at 1800hrs today (5th December) confirms that 607 persons have died due to the adverse weather conditions while the number of missing persons has reduced to 214.
The number of persons affected topped the 2 million mark (2,082,195).

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Sri Lanka Navy takes delivery of Ex-USCGC DECISIVE
The Sri Lanka Navy (SLN) formally took delivery of the EX- United States Coast Guard Cutter, USCGC DECISIVE, provided by the United States to SLN, at a ceremony held at the United
States Coast Guard Yard in Baltimore on 02 Dec 25. The event was also attended by the Commander of the Navy, Vice Admiral Kanchana Banagoda.
The ship formally joined the SLN fleet on 02 December under the pennant number P 628 and the main mast of the ship will fly the National Flag effective from that date.
Aiming to strengthen and develop partnerships to overcome common challenges in the maritime domain, the U.S. Coast Guard has previously provided 03 ships to SLN and they are currently patrolling island waters under the names of ‘Samudura’ (P 621), ‘Gajabahu’(P 626), and ‘Vijayabahu’ (P 627).
As an extension of partnership ties that bring value to each other’s services, Ex-USCGC DECISIVE was transferred as the fourth ship to be handed to SLN.
Ex-USCGC DECISIVE, a ‘B-Type Reliance Class 210-foot Cutter’, measures 64m in length, and having endurance of 6000 NM at cruising speed. Further, she has been designed for a
crew of 100 and is equipped with weapons and machinery.
The ship which was used by the U.S. Coast Guard has rendered exceptional service during her tenure by curbing illegal activities, including smuggling of narcotics in U.S. waters.
Sri Lanka inherits an Exclusive Economic Zone (EEZ) that is seven times larger than the landmass. In such a backdrop, the Navy is determined to deploy this vessel in wide-ranging
operations that include the conservation of marine resources in the region and the search and rescue of naval and fishing communities in distress. Thereby, the Navy will be able to utilize
this vessel efficiently in the future to achieve the national aspiration, while ensuring safe and secure seas for all economic affairs.
The formal handing over – taking over ceremony was also distinguished by the presence of the Deputy Chief Acquisition Officer and Director of Domain & Integration Services U.S. Coast
Guard, James L. Knight, Deputy Assistant Secretary of War for South and Southeast Asia, Dr. Andrew Byers, the Ambassador of Sri Lanka to the United States, Mahinda Samarasinghe, Commanding Officer designate of P 628, Captain Gayan Wickramasuriya as well as a group of officials from the Embassy of Sri Lanka in United States and the State Department
of the United State
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486 dead, 341 missing, 171,778 displaced as at 0600hrs today [05]
The situation report issued by the Disaster Management Center at 0600hrs today [5th December] confirms that 486 persons have died and another 341 persons are missing after the devastating weather conditions in the past week.
171,778 persons have been displaced and have taken refuge at 1,231 safety centers established by the government.

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