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SriLankan Airlines’ debt restructuring would influence country’s sovereign credit profile: CB Governor

Published

3 weeks ago

2026/02/18

Chief Economic – Policy Advisor of the Ceylon Chamber of Commerce Shiran Fernando and CB Governor Dr. Nandalal Weerasinghe

Central Bank Governor Dr. Nandalal Weerasinghe recently told a breakfast meeting hosted by Sri Lanka-Germany Business Council of the Ceylon Chamber of Commerce that there were no basis for concerns regarding external debt repayments from 2028. Dr. Weeerasinghe said that such concerns were unwarranted, given the buffers established by the Government and its commitment to meeting obligations.

The event was graced by Dr. Felix Neumann, Ambassador of the Federal Republic of Germany to Sri Lanka, Patron of the Council, and brought together over 100 distinguished participants, including Council members, representatives of German-affiliated organisations, senior government officials, and leading members of Sri Lanka’s private sector.

Welcoming the gathering, Gerard Victoria, President of the SLGBC highlighted the Council’s longstanding commitment to strengthening trade and investment ties between Sri Lanka and Germany. Established in 1999, the SLGBC continues to serve as a vital platform for fostering bilateral commercial relations built upon over seven decades of diplomatic and economic cooperation between the two nations.

Addressing the forum under the theme “Sri Lanka: The Way Forward,” Governor Weerasinghe shared insights into the country’s macroeconomic outlook and reform trajectory. He noted that the current path of economic stabilisation is expected to continue, supported by a strengthened policy framework and improved fundamentals. The Governor expressed appreciation to the German Government for its support in Sri Lanka’s external debt restructuring process and emphasised that the recent progress, including developments related to

SriLankan Airlines’ debt restructuring, is expected to positively influence the country’s sovereign credit profile.

He underscored the importance of addressing legacy structural issues to unlock higher and more sustainable growth, while reassuring participants that concerns regarding external debt repayments from 2028 onwards are unwarranted, given the buffers established by the Government and its commitment to meeting obligations.

During the interactive discussion, the Governor highlighted that the current low interest rate environment presents a conducive climate for business planning and investment. He explained that monetary policy remains guided by an inflation-targeting framework, with inflation now more stable and anchored at mid-single-digit levels compared to previous periods.

Providing an update on the IMF-supported program, the Governor stated that while the fifth review had experienced a delay due to post-program assessments, he remains confident that the program will remain on track during the year.

He noted positive trends in external inflows, including increased remittances—particularly from skilled migrants—and improved recording of earnings from freelancers. Addressing global risks, he pointed to ongoing geopolitical uncertainties and emerging disruptions linked to advancements in artificial intelligence, emphasizing the need for both the Government and private sector to adapt swiftly to remain competitive.

The event concluded with a vibrant exchange of views between policymakers and the business community, reaffirming the importance of constructive dialogue in shaping Sri Lanka’s economic future and further strengthening Sri Lanka–Germany economic cooperation.

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Advisory for Severe Lightning issued to the Western and Sabaragamuwa provinces and Galle and Matara districts

Published

4 hours ago

2026/03/12

Priyan

Advisory for Severe Lightning Issued by the Natural Hazards Early Warning Centre at 12.30 noon 12 March 2026 valid for the period until 11.00 p.m. 12 March 2026

Thundershowers accompanied with severe lightning are likely to occur at some places in the Western and Sabaragamuwa provinces and in Galle and Matara districts after 2.00 p.m.

There may be temporary localized strong winds during thundershowers. General public is kindly requested to take adequate precautions to minimize damages caused by lightning activity.

ACTION REQUIRED:
The Department of Meteorology advises that people should:
 Seek shelter, preferably indoors and never under trees.
 Avoid open areas such as paddy fields, tea plantations and open water bodies during thunderstorms.
 Avoid using wired telephones and connected electric appliances during thunderstorms.
 Avoid using open vehicles, such as bicycles, tractors and boats etc.
 Beware of fallen trees and power lines.
 For emergency assistance contact the local disaster management authorities.

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Nasa spacecraft weighing 1,300lb due to re-enter Earth’s atmosphere

Published

5 hours ago

2026/03/12

Priyan

The two Van Allen Probes were launched in 2012 [BBC]

A Van Allen Probe spacecraft weighing more than 1,300lb (600kg) is expected to re-enter Earth’s atmosphere almost 14 years after its launch, Nasa says.

The spacecraft is projected to re-enter around 19:45 EDT (23:45 GMT) on Tuesday the US Space Force predicted, according to Nasa, though there is a 24-hour margin of “uncertainty” in the timing.

The Van Allen Probe A, which launched in 2012, is expected mostly to burn up as it travels through the atmosphere, though some components may survive.

The space agency said there is a one in 4,200 chance of being harmed by a piece of the probe, which it characterised as “low” risk.

The spacecraft and its twin, Van Allen Probe B, were on a mission to gather unprecedented data on Earth’s two permanent radiation belts.

It was not immediately clear where in Earth’s atmosphere the satellite is projected to re-enter. The BBC has contacted Nasa for further detail.

Nasa and the US Space Force have said they will monitor the re-entry and update any predictions.

The mission, which was originally designed to last two years, went on for almost seven. It ended after the spacecrafts ran out of fuel and were no longer able to orient themselves toward the Sun.

The probes flew through rings of charged particles trapped by Earth’s magnetic field from 2012 to 2019, in order to study how particles were gained and lost, per Nasa.

Those rings, called the Van Allen belts, shield Earth from cosmic radiation, solar storms and streaming solar wind, which are harmful to humans and can damage technology.

The mission made significant discoveries, including the first data that show the existence of a transient third radiation belt, which can form during times of intense solar activity, Nasa said.

Van Allen Probe B is not expected to re-enter the Earth’s atmosphere before 2030.

[BBC]

News

PM Visits the International Rice Research Institute (IRRI)

Published

7 hours ago

2026/03/12

Priyan

Prime Minister Dr. Harini Amarasuriya visited the International Rice Research Institute (IRRI) headquarters in Los Baños, Laguna, Philippines, on 11 March 2026, and held bilateral discussions with Yvonne Pinto, Director General of IRRI, focusing on strengthening cooperation in the field of rice research and sustainable agricultural development.

During the meeting, discussions centered on rice cultivation in Sri Lanka, including the key challenges faced by Sri Lankan paddy farmers. The Prime Minister highlighted issues affecting the sector such as productivity constraints, climate-related impacts, and the need to support farmers through improved agricultural practices and technological innovations.

Both sides also discussed the importance of introducing modern techniques and research-driven approaches to rice cultivation in order to enhance productivity and ensure long-term food security. In this regard, IRRI shared insights on ongoing global research initiatives aimed at improving rice varieties, strengthening climate resilience, and promoting sustainable farming practices.

The discussion further focused on the potential for expanded collaboration between Sri Lanka and IRRI, particularly in areas such as research partnerships, knowledge sharing, and capacity building for Sri Lankan agricultural institutions and farmers. The Prime Minister emphasized Sri Lanka’s interest in strengthening cooperation with IRRI to support the development of the country’s rice sector and to improve the livelihoods of paddy farmers.

The visit reaffirmed the importance of science-based agricultural innovation and international collaboration in addressing food security challenges and enhancing sustainable rice production in Sri Lanka.