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CP blames 2022 crisis on JRJ policies
General Secretary of the Communist Party Dr. G. Weerasinghe has said the national economy nosedived in 2022 due to three factors. The depletion of the country’s foreign exchange reserves was the main factor caused by the huge chronic trade deficit blamed on the import/export policy implemented through the free/liberal/open trade policies implemented since 1978.
The second factor that led to the economic crisis was the steep decline in state revenue caused by the wrong tax policy followed by successive governments since 1978 by slashing direct taxes, giving tax concessions, imposing tax restrictions, and granting tax amnesties, especially to multinational corporations. Despite sucy concessions, Sri Lanka had not received substantial foreign investment did not receive
The third reason was the huge trade deficit and the gradually collapsing state revenue, which required more and more loans to be taken. Governments obtained loans from loans from lage private financial companies. in addition to institutions such as friendly countries, the International Monetary Fund, and the World Bank. Among those who provided such loans to the Sri Lankan governments were eight Sri Lankan financial companies.
Dr. Weerasinghe said so addressing the inaugural session of the CP’s national congress that commenced on 20 February in Colombo.
Dr. Weerasinghe said that the three basic policies, namely the import/export policy that caused the loss of dollars, the tax policy that caused the loss of rupees, and the debt-building policy, especially the borrowing policy of international/national moneylenders, are all policies that arose from the so-called open economy/free trade economic strategy introduced to the country in 1978.
At the onset of his speech, the founding leaders of the CP, including Dr. S. A. Wickramasinghe, Pieter Keuneman, Rev. Udakendawala Sri Saranankara Thero, A. Vaidialingam, P. Kandiah and M. G. Mendis were remembered with great respect.
Dr. Weerasinghe said: “In Sri Lanka, we tried implementing these policies for almost 50 years – since 1978. Our infant industries, which were being built behind state protection and with assistance from the socialist countries, were destroyed. We became a market for the products of the Global North. We borrowed from the Global North’s banks to afford to buy products made by the Global North’s industries. Eventually, an economic crisis erupted in the country and it exploded.”
“When we all came together in 1935 and founded the Sama Samaja Party, and later the Communist Party, one of their main objectives was to win sovereignty – national independence. After going through various stages in the fight for national independence, we became a Republic in 1972 and completed political independence. But a question has arisen as to whether we have true political freedom today in 2026. This question has emerged so strongly in the wake of the economic crisis that erupted in 2022.
“The free market system was introduced to the world by neoliberal leaders in the late nineteen-seventies. This system was based on the views of economists who were marginal after World War II, but became more powerful following the crisis of capitalism in the nineteen-seventies. The policies of these economists were accepted by the political leaders of the United States, Britain, and Europe. These leaders then intervened in the Global South to enforce these ideas and policies.
“The main aspects of the free market system introduced to the world were: Free trade, Free movement of finance, Restriction of state intervention in the economy and expansion of the role of the private sector
“The result of these policies are that everything is determined by a handful of private international monopolies in the so-called free market. The richest 1% get richer while the poor get poorer. The rich 1% decides how the social wealth is invested, and the poor have no voice. This system was forced upon developing countries, often by military dictatorship or authoritarian governments.
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Landslide Early Warnings issued to the Districts of Colombo,Gampaha, Kalutara, Kegalle, Nuwara Eliya and Ratnapura
The National Building Research Organisation [NBRO] has issued landslide early warnings to the Districts of Colombo, Gampaha, Kalutara, Kegalle, Nuwara Eliya and Ratnapura effective from 1700 hrs today [24th May 2026] to 1700 hrs on Monday [25th May 2026].
Accordingly,
LEVEL II [AMBER] landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Dehiowita, Deraniyagala, Ruwanwella and Yatiyanthota in the Kegalle district and Kuruwita, Ratnapura, Ayagama and Eheliyagoda in the Ratnapura district.
LEVEL I [YELLOW] landslide early warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Seethawaka and Padukka in the Colombo district, Attanagalla in the Gampaha district, Palindanuwara, Mathugama, Bulathsinhala, Agalawatta, Ingiriya and Horana in the Kalutara district, Bulathkohupitiya in the Kegalle district, Ambagamuwa in the Nuwara Eliya district and Kiriella, Pelmadulla, Nivithigala, Elapatha and Kalawana in the Ratnapura district.
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PM concludes official visit to UK
Prime Minister Dr Harini Amarasuriya concluded a successful official visit to the United Kingdom from 18 to 22 May 2026. The visit was undertaken to participate in the 43rd Commonwealth of Learning (COL) Board of Governors Meeting 2026 and to advance bilateral, academic, and community engagement.
The Prime Minister commenced her programme with academic engagements at the Institute of Development Studies (IDS), University of Sussex, where she addressed the 60th anniversary celebration. Addressing the gathering, the Prime Minister reflected on the relationship between politics, governance, and development, drawing from Sri Lanka’s recent political and economic experiences. She emphasized the challenges of balancing governance, economic recovery, social protection, and institutional reform while responding to public expectations and maintaining democratic accountability.
The Prime Minister subsequently delivered the 2026 Annual Lecture at the St Antony’s College, University of Oxford, organized by the Oxford School of Global and Area Studies (OSGA). Addressing the audience comprising students, academics, and researchers from across the University of Oxford, the Prime Minister reflected on the intersections of development, governance, and politics in Sri Lanka while discussing the broader realities faced by the country attempting to achieve meaningful social and economic reform. During her visit to Oxford, she also engaged with scholars and Sri Lankan fellows of the Chevening CRISP programme.
During the visit, Prime Minister Amarasuriya held bilateral discussions with Ms Yvette Cooper Secretary of State for Foreign, Commonwealth and Development Affairs of the United Kingdom. During the discussions, Prime Minister Amarasuriya conveyed Sri Lanka’s appreciation for the United Kingdom’s support following Cyclone Ditwah, including ongoing rebuilding and recovery assistance, and commended the UK’s continued efforts to facilitate increased bilateral trade and exports for Sri Lanka. She also briefed the UK side on Sri Lanka’s economic developments and policy priorities, reaffirming the Government’s commitment to human rights, reconciliation, and the country’s positive growth trajectory. Both sides exchanged views on global geopolitical developments, energy challenges, and regional connectivity, and reaffirmed their commitment to further strengthening bilateral cooperation in areas of mutual interest.
At a discussion with Ms Bridget Phillipson, UK Secretary of State for Education Prime Minister Amarasuriya emphasized the importance of sustaining meaningful institutional partnerships, enhancing quality assurance in higher education, and expanding opportunities for students and educators. Both sides reaffirmed the long-standing and historic cooperation between Sri Lanka and the United Kingdom in education and expressed interest in further deepening collaboration in student mobility, joint programmes, and research.
The Prime Minister also met with academic experts from the British Council at the High Commission in London to discuss strengthening cooperation in education. The discussions focused on strengthening cooperation in education, particularly in teacher training, English language programmes, education frameworks, and language acquisition skills. The meeting also addressed ways to improve quality assurance, expand research collaboration, and enhance learning opportunities for students and educators.
The Prime Minister attended the 43rd Commonwealth of Learning (COL) Board of Governors Meeting 2026 from 21 to 22 May 2026. She met with Shirley Ayorkor Botchwey, Secretary-General of the Commonwealth of Nations, at the Commonwealth Secretariat, where discussions focused on strengthening cooperation within the Commonwealth framework, including climate change, climate finance, democratic governance, and women’s political participation. The Secretary-General reaffirmed the Commonwealth’s readiness to continue supporting Sri Lanka through technical assistance, capacity-building initiatives, and collaboration in areas including climate finance and electoral governance.
Prime Minister Amarasuriya visited the London Buddhist Vihara ahead of its upcoming centenary celebrations, where she met with the Most Venerable Bogoda Seelawimala Nayaka Thera, Chief Sangha Nayaka of Great Britain and Head of the London Buddhist Vihara and discussed the preparations for the celebrations and the Vihara’s longstanding contribution to the Sri Lankan community. She subsequently engaged with members of the Sri Lankan community at a separate community event.
Concluding her successful official visit to the United Kingdom, Prime Minister Dr. Harini Amarasuriya arrived in Sri Lanka on Satueday morning via Bandaranaike International Airport.
[Prime Minister’s Media Division]
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Sri Lanka cricket finances ‘greater than feared’: interim chief
(AFP)Financial irregularities surrounding Sri Lankan cricket were far worse than feared, government-appointed administrators said Thursday, promising a full accounting and sweeping reforms.
“We have already ordered a forensic audit of the accounts,” Eran Wickramaratne, interim president of Sri Lanka Cricket (SLC), told his first news conference since taking office last month.
He said financial irregularities were “far greater than initially feared”.
He said the new SLC leadership — handpicked by the government of President Anura Kumara Dissanayake — would bring in sweeping reforms as concerns linger over international sanctions.
The current administration was appointed following the mass resignation of SLC’s elected officials last month — a move that raised fears of possible suspension by the International Cricket Council (ICC) over political interference.
The SLC, the country’s richest sports body, was suspended for two months in 2023 on similar grounds.
Wickramaratne, however, said discussions with the ICC were underway on reforming the SLC.
“Our talks with the ICC have been extremely cordial and constructive,” he said.
“We have been very open and transparent in what we are doing, and they want us to pursue open and transparent methods in doing this.”
Reforms include drafting a new constitution aimed at curbing abuses that allowed groups to retain power for a prolonged period, he added.
Four-time SLC president Shammi Silva and his entire committee stepped down in April after the government intervention, clearing the way for the current overhaul.The previous administration had also faced criticism over the national team’s performances, including an early exit from the T20 World Cup, which Sri Lanka co-hosted with India earlier this year.
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