Business
Sri Lanka needs to sustain its reform momentum: IMF
Notes upcoming elections are for the people of Sri Lanka to decide
Puts the questions on Bangladesh and Sri Lanka in one basket
By Sanath Nanayakkare
Sri Lanka needs to allow reforms to continue for a period of time, Julie Kozack, Director of the Communications Department, IMF said on September 12, 2024, according to the transcript of an IMF press briefing.Notably she made this comment while taking questions on Sri Lanka and crisis-hit Bangladesh in combination, during the press conference.
“Okay. Any questions on Sri Lanka or Bangladesh?” she asked, upon which, a questioner posed her the following question.
Question: “I would like to ask about Sri Lanka and whether there is any possibility of reopening the programme negotiations based on the possible results of the September 21 presidential election, and what the elections implications could be for that $3 billion program existing currently with Sri Lanka?”
Julie Kozack: Okay, I’ll start with Sri Lanka. So, just stepping back for a moment. On June 12th of 2024, our Executive Board completed the 2024 Article IV Consultation and the Second Review of the EFF program. That provided the country with access of about $336 million U.S. dollars. Programme performance remains strong. Reform efforts are bearing fruit. Economic growth is starting to revive. Inflation is coming down. Reserves, international reserves are increasing, and revenue mobilization is improving. Nonetheless, important vulnerabilities do remain, and sustaining reform momentum is going to be essential.”
“Regarding some of the specific questions about the presidential elections, first, it’s very important to note, of course, that for the upcoming elections, this is really for the people of Sri Lanka to decide, right. Achieving the programme’s objectives is a key priority to give Sri Lanka a chance to emerge from one of its worst crises in history. As I’ve already noted, a lot of progress has been made, but the country is not out of the woods yet, and it is important to safeguard those hard-won gains,” she said.
Taking the question on Bangladesh she said,” First, I do want to say that we are deeply saddened by the loss of lives and injuries during the recent protests. It was very distressing to hear about those losses of lives. From the IMF side, we are working closely with the interim government. An IMF team will visit Bangladesh in late September for a fact-finding mission and to discuss recent economic developments, and further details about the Staff visit will be communicated in due course.”
“We remain fully committed to working with Bangladesh in support of the people within the context of the IMF program, we will continue to work closely with the authorities to help advance the reform agenda. And, of course, as part of the upcoming mission, the team will be assessing all of the economic developments and any potential financing needs in Bangladesh.”
Business
Charting a worker-centered AI future: Colombo hosts landmark ITF conference
By Sanath Nanayakkare
Artificial intelligence and automation present serious challenges for workers – such as job consequences seen in docks and rail systems – and emphasises that workers cannot simply stop technological progress. By gathering young trade unionists in Sri Lanka, the ITF aims to establish key principles for engaging with technology, ensuring workers have a strong voice at the bargaining table, and encouraging constructive social dialogue with corporations and governments.
These compelling words from ITF General Secretary Stephen Cotton underscored the urgent reality facing modern labor as rapid technological advancements sweep across global industries.
Confronting this shifting landscape head-on, the International Transport Workers’ Federation (ITF), in partnership with the National Union of Seafarers of Sri Lanka (NUSS), convened a ground-breaking conference on artificial intelligence in Colombo from September 15–17.
As the ITF’s first-ever AI-focused global conference and the first of its kind hosted in Sri Lanka, the landmark event marked a critical milestone in balancing technological innovation with worker-centered safeguards.
Representing over 16.6 million transport workers worldwide, the ITF designed the gathering to tackle the multifaceted impacts of AI on safety, operations, workforce development, and governance. Rather than resisting progress, the conference focused on proactive engagement, establishing guiding principles to protect workers’ rights and privacy both at sea and on land.
Key discussions centred on sharing best practices for upskilling and reskilling transport personnel, ensuring that human oversight remains central to AI-driven logistics, routing, and maintenance.
Reflecting on the historic nature of the event, Boa Athu, CEO of National Union of Seafarers Asia Pacific, noted that the conference represented a monumental moment as AI emerges as a permanent fixture of contemporary life.
Highlighting NUSS’s pride in hosting the event in Colombo, Athu emphasised that AI offers transformative potential when guided by strong social dialogue, equitable access to training, and robust governance safeguards.
Ultimately, the Colombo conference demonstrated that the future of transport must be shaped by those who keep the world moving. By uniting international labour leaders, affiliates, port operators, and regulators, the event laid a vital foundation for inclusive policy frameworks that champion fair labour standards, securing a powerful voice for workers in an automated tomorrow.
Business
Bridging the digital divide: Sri Lanka’s airport licence challenge
By Sanath Nanayakkare
As Sri Lanka experiences a surge in visitors from its largest tourist market, India, a modern administrative hurdle has emerged at Bandaranaike International Airport (BIA).
While nations like India and Pakistan have successfully transitioned to fully digital driving licences and cashless ecosystems, Sri Lanka’s Department of Motor Traffic counter still requires a physical card to issue temporary local permits, The Island Financial Review learns.
This mismatch creates significant friction for independent travelers who rely entirely on smartphones and cloud-stored credentials. Tourists turned away at the airport – and sometimes redirected to the Werahera office in vain – find themselves unable to legally rent and drive vehicles. Consequently, this policy gap harms local car rental operators, causes tourist frustration, and deprives the government of valuable permit revenue.
The situation highlights a distinct irony: Sri Lankan motorists easily travel abroad using International Driving Permits that are readily accepted in India and Pakistan, yet local infrastructure cannot reciprocate due to outdated verification systems.
Recognizing the problem, Department of Motor Traffic officials have noted that upgrades and new equipment are currently in the works to integrate foreign digital platforms.
For a nation aggressively pursuing a national digitalisation drive, rapidly modernising these transport protocols is essential to keeping pace with global travelers and unlocking the full potential of its tourism economy.
Business
International Afro-Latin Dance Festival in Colombo to grow into a larger regional tourism draw
ALIF-SL, Sri Lanka’s first-ever international Afro-Latin dance festival, returns for its 4th edition from 25 to 27 September 2026 at the Galle Face Hotel, Colombo. The festival will bring together over 30 international and national artists and 175–200 participants from more than 20 countries, reaffirming its place as the region’s leading platform for Salsa, Bachata and Kizomba.
This year’s edition is headlined by Tropical Gem, the world’s No. 1 salsa team, travelling from Italy to perform and teach alongside a stellar international line-up. Attendees can also look forward to the ALIF Cup Sri Lanka Open, a keenly contested competition judged by an international panel, giving local dancers a rare opportunity to compete and connect with world-class talent.
“Every year, ALIF connects Sri Lanka to the world. With this year’s artist line-up and the ALIF Cup competition, we’re not just hosting a festival, we’re putting Sri Lanka on the map as a top destination for dance,” said JD Ruban, Founder and Director of ALIF-SL
Beyond the dance floor, ALIF-SL continues to support Sri Lanka’s tourism sector, drawing dancers, judges and enthusiasts from across the globe to Colombo and positioning the capital as an emerging regional hub for social dance. Organizers plan to grow the festival into a larger regional tourism draw, introduce new competition categories, and bring in even bigger headline acts in future editions.
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