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“Strong expectations” of SL soon striking deal with commercial creditors: IMF

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Julie Kozack

The International Monetary Fund (IMF) says there is a strong expectation that Sri Lanka will soon reach agreements with external commercial creditors consistent with program 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, said during a press briefing at Washington on Thursday (06).

On March 21, IMF staff and the Sri Lankan authorities reached staff-level agreement on economic policies to conclude the second review of the economic reform program and also the 2024 Article IV Consultation.

Kozack confirmed that on June 12, 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 program 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 program 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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Navy seize an Indian fishing boat poaching in Mannar seas

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During an operation conducted in the dark hours of 22 Feb 26, the Sri Lanka Navy seized an Indian fishing boat and  apprehended  twelve (12) Indian fishermen while they were poaching in Sri Lankan waters, in the sea area south of Mannar.

The seized boat  and the Indian fishermen were handed over to the Fisheries Inspector of Dikovita for onward legal proceedings.

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Families of those sentenced to death for killing MP Atukorale seek AKD’s intervention

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FSL assures legal backing for them

Families of those sentenced to death by the Three-member Gampaha High Trial-at-Bar, over the killing of SLPP MP Amarakeerthi Atukorale, and his police bodyguard, met a senior official of the Presidential Secretariat, yesterday (23), to seek backing for their move to appeal against the verdict.

Having made representations, they addressed the media, outside the Presidential Secretariat, where they declared their intention to move the higher court against the decision.

The SLPP MP and his security officer were killed by an Aragalaya mob on 09 May, 2022, at Nittambuwa. The same day Aragalaya mobs unleashed violence against the then government MPs across the country, torching dozens of their properties.

The Frontline Socialist Party (FSP) yesterday said that they would help the families of those sentenced to death to move court against the Gampaha High Court Trial-at-Bar decision. Responding to The Island queries, FSP spokesman Pubudu Jayagoda said that their representatives had already met the families and necessary work was being done to move the Supreme Court. Twenty three persons were acquitted and four handed six-month prison terms, suspended for five years

Jayagoda said that one of the HC judges differed in the ruling. Asked whether they received backing from any other political party and groups that had been involved in the 2022 protest campaign to defend those who had been found guilty, Jayagoda said such support was lacking.

The JVP/NPP played a significant role in the violent protest campaign that forced President Gotabaya Rajapaksa to step down. Pointing out that the Attorney General, too, was appealing against the court decision on the basis that the number of persons sentenced to death should be much higher, Jayagoda said that the Nittambuwa incident couldn’t be examined in isolation without taking into consideration the SLPP goon attack on Galle Face protesters on 09 May, 2022. (SF)

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OPV leaves Baltimore, expected in Colombo in May

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SLN officers wave to those on the shore as the newly acquired P 628 departs Baltimore, US (pic courtesy SLN)

Offshore Patrol Vessel P 628 of the Sri Lanka Navy departed Baltimore, USA, for Colombo, on 20 February.

The ex-United States Coast Guard Cutter, USCGC Decisive was officially handed over to the SLN on 02 December, 2025, as the latest addition to the SLN fleet, under the Pennant Number P 628.

Measuring 64 metres in length, this ‘B-Type Reliance Class 210-foot Cutter’ is equipped with advanced technological systems and facilities, capable of conducting extensive surveillance operations spanning up to 6,000 nautical miles per patrol.

The vessel’s voyage to Colombo is historic, possibly marking the longest-ever passage undertaken by a Sri Lanka Navy ship. Covering approximately 14,775 nautical miles, the journey will see the P 628 navigate from Baltimore through the Atlantic Ocean, the Panama Canal (a first for a Sri Lankan naval vessel), the Pacific Ocean, and into the Indian Ocean, via the Straits of Malacca. The ship is expected to arrive in Sri Lanka during the first week of May, 2026.

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