News
Third IMF tranche by June provided debt restructuring is concluded
Sri Lanka anticipates the third tranche of the International Monetary Fund (IMF) extended fund facility by June, according to State Minister of Finance Shehan Semasinghe. However, the country must first obtain consensus from the country’s creditors on restructuring its debt.
“We anticipate the third tranche by June. That’s the standard procedure. After a review, there’s staff level agreement between IMF officials and government officials. Following that, a date is decided for the IMF to present that agreement. It is after this that we get the third installment of 337 million dollars.
“But there’s one task we have to complete before that. That is to get the consensus for restructuring debt from our creditors. We have obtained the preliminary consent of all bilateral creditors,” said Semasinghe.
An IMF official said in Washington on Friday April 05 that there are strong expectations of agreements being reached with commercial creditors.
“[T]here is a strong expectation that agreements with commercial creditors consistent with program parameters will be reached by completion of the second review,” she told reporters in Washington.
Domestic debt restructuring is largely completed, she said.
Domestic state enterprise debt re-structuring is expected to completed soon, Deputy Central Bank Governor Yvette Fernando told a business forum earlier this week.
Sri Lanka is in talks with both International Sovereign Bond Holders and other creditors like China Development Bank to conclude a deal. Finalized bilateral restructuring agreements and a deal with private creditors are required to complete the second review of the IMF program.Sri Lanka is hoping to conclude the review by June-July before elections are held, President Ranil Wickremesighe has said. (Economy Next)
News
Prime Minister meets delegation from the European External Action Service
Prime Minister Dr. Harini Amarasuriya met with the representatives of the European External Action Service [EEAS] on Tuesdqy [10 th February] at the Prime Minister’s office.
Welcoming the delegation from the European External Action Service (EEAS), the Prime Minister emphasized the importance of further strengthening and deepening the long-standing partnership between Sri Lanka and the European Union, noting the role of the European Union as a key development and economic partner.
The Prime Minister also expressed appreciation for the timely assistance extended by the European Union to Sri Lanka in response to the recent cyclone, highlighting the EU’s continued solidarity and support during times of need.
Attention was drawn to the need to expand economic cooperation between Sri Lanka and the European Union. The Prime Minister underscored the importance of undertaking necessary legislative and policy reforms to facilitate enhanced economic engagement, trade, and investment.
The delegation was briefed on the ongoing initiatives and reforms being implemented by the new Government aimed at strengthening economic stability, governance, and creating a conducive environment for sustainable growth and international cooperation.
The meeting was attended by the Acting Managing Director for Asia and the Pacific in the European External Action Service, EU co-chair of the Joint Commission, Ms. Paola Pampaloni; EU Ambassador, Head of EU Delegation Ms. Carmen Moreno and the representatives of European External Action Services and Delegation of the European Union, and Additional Secretary to the Prime Minister, Ms. Sagarika Bogahawatta and the officials from the Ministry of Foreign Affairs, Foreign Employment, Tourism Sri Lanka.

[Prime Minister’s Media Division]
Business
Newly appointed ADB Country Director to Sri Lanka and delegation meet PM
The newly appointed Country Director of the Asian Development Bank for Sri Lanka Ms Shannon Cowlin and the accompanying delegation met with Prime Minister Dr. Harini Amarasuriya on Tuesday [0th of February] at the Prime Minister’s office.
Welcoming the delegation, the Prime Minister extended congratulations to the newly appointed Country Director and acknowledged the long-standing partnership with the Asian Development Bank. The Prime Minister also expressed appreciation for ADB Bank’s continued engagement and support aligned with Sri Lanka’s national development priorities.
The Prime Minister also conveyed gratitude for the timely assistance extended by the ADB in response to Cyclone Ditwah, noting the importance of such support in mitigating the immediate impacts of natural disasters.
The ADB delegation reiterated its readiness to further assist Sri Lanka during the post-cyclone recovery phase, including rebuilding and reconstruction efforts, and emphasized its commitment to the supporting the education sector.
The meeting was attended by OIC / Deputy Director General, SARD Ms. Sona Shrestha, Ms. Cholpon Mambetova Country Operations Head of ADB Sri Lanka Mission Resident, Additional Secretary to the Prime Minister Ms. Sagarika Bogahawatta, Director General of the External Resource Department, Ministry of Finance Samantha Bandara, Director for ADB Division in External Resource Department, Ministry of Finance Ranjith Gurusinghe.
[Prime Minister’s Media Division]
News
School student transport services are being regulated
A discussion on regulating school student transport services was held on the 09th of February at the Prime Minister’s Office under the patronage of Prime Minister Dr. Harini Amarasuriya, with the participation of officials from the National Transport Commission and the Ministry of Education.
The authority for regulating school student transport has been vested with the National Transport Commission, and as the relevant draft of regulations have already been prepared, discussions were held on the provisions contained in these drafts as well as on new proposals that should be incorporated.
During the discussion, the attention was focused on meeting the emerging needs of transportation arising from the schools, minimizing issues encountered in the transportation of school students by establishing an organized transport mechanism, and deploying the “Sisu Sariya” school transport service in a more efficient and effective manner followed by the new educational reforms process.
Discussions were also held on introducing laws and regulations to systematize the transportation of schoolchildren, prioritizing child protection by preventing reported incidents of abuse and harassment during student transport, and enhancing professionalism among school transport service providers to ensure a responsible and accountable service.
The focus was also emphasized on the need for coordinated action among the Ministry of Transport, Highways and Urban Development, the National Transport Commission, the Ministry of Education, Higher Education and Vocational Education, and the National Child Protection Authority.
The discussion was attended by the Minister of Transport, Highways and Urban Development Bimal Rathnayake, Chairman of the National Transport Commission P. A. Chandrapala, officials of the National Transport Commission, and the officials from the Ministry of Education, Higher Education and Vocational Education.
[Prime Minister’s Media Division]
-
Features5 days agoMy experience in turning around the Merchant Bank of Sri Lanka (MBSL) – Episode 3
-
Business6 days agoZone24x7 enters 2026 with strong momentum, reinforcing its role as an enterprise AI and automation partner
-
Business5 days agoRemotely conducted Business Forum in Paris attracts reputed French companies
-
Business5 days agoFour runs, a thousand dreams: How a small-town school bowled its way into the record books
-
Business5 days agoComBank and Hayleys Mobility redefine sustainable mobility with flexible leasing solutions
-
Business2 days agoAutodoc 360 relocates to reinforce commitment to premium auto care
-
Business6 days agoHNB recognized among Top 10 Best Employers of 2025 at the EFC National Best Employer Awards
-
Midweek Review2 days agoA question of national pride
