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Crisis: Sabry faults ‘handful of persons’ but won’t accept charge of economic crimes

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By Shamindra Ferdinando

Foreign Minister Ali Sabry has reiterated that a handful of persons who advised President Gotabaya Rajapaksa caused the unprecedented economic meltdown.

Sabry has alleged that politicians, officials, public sector as well as the trade unions are responsible for the crisis.

The Minister said so in response to ‘Hiru’ anchor Chamuditha Samarawickrema seeking an explanation regarding the Geneva-based United Nations Human Rights Council (UNHRC) taking up the contentious issue of economic crimes in Sri Lanka.

In a wide-ranging interview on ‘Salakuna’ on Monday (10), Sabry repeated the accusations that he had made in June in his capacity as the Finance Minister following talks with the International Monetary Fund (IMF) in Washington.

However, Minister Sabry declined to call those responsible ‘economic assassins’ or categorise their actions ‘economic crimes.’ But he acknowledged that as a member of the Cabinet-of-Ministers he had also been named a respondent in Court cases in this regard.

Sabry stressed that he didn’t believe that those who had been blamed for the crisis did so purposely though the then President Gotabaya Rajapaksa acted recklessly, on advice received, without taking sufficient safeguards.

The Bar Association of Sri Lanka (BASL) is among the parties to move the apex court over the unprecedented financial meltdown.

The panel of interviewers, comprising Chamuditha Samarawickrema, Madushan de Silva and Kalindu Vithanage, repeatedly pointed out that the denial of basic requirements could be considered violation of human rights.

When the panel pointed out that Minister Sabry essentially agreed with the views expressed by the international community, and other interested parties, as regards economic crimes, the lawmaker said that in spite of the deteriorating crisis, still those responsible continued to make promises, at the expense of economic stability. Minister Sabry cited the recent declaration of free mid-day meal as a case in point. Such promises were made without making required financial provisions, the Minister added.

Minister Sabry said that he wouldn’t under any circumstances,defend the indefensible and alleged that the country wouldn’t have been in this mess if not for arrogant conduct of the decision-makers.

Sabry compared how Dr. Indrajith Coomaraswamy in his capacity as the Governor of the Central Bank (June 2016-Dec. 2019) had successfully handled an impending crisis due to the response of those at the helm following the last presidential election, in Nov. 2019 before it developed into a catastrophe.

The Minister said that as the former Finance Minister he took the responsibility for the declaration of default status by Central Bank Governor Dr. Nandalal Weerasinghe in the second week of April this year. Emphasising that there was absolutely no uncertainty regarding that decision taken, Minister Sabry said that in addition to the Finance Secretary, Mahinda Siriwardana, and Dr. Weerasinghe, the government had consulted a three-member committee of economic and fiscal experts of the Presidential Advisory Group, Dr. Indrajith Coomaraswamy, Prof. Shanta Devarajan and Dr. Shamini Cooray.

Minister Sabry cited the Ceylon Electricity Board (CEB) as one of the enterprises that had contributed to the deterioration of the national economy. He explained how the CEB engineers brazenly thwarted attempts to enhance renewable energy capacity on various pretexts. Calling them a Mafia organization, Minister Sabry pointed out how those who had blocked renewable energy projects, approved emergency power purchases, at exorbitant rates. Chamuditha Samarawickrema pointed out that there was no point in making such allegations. The Hiru team stressed the responsibility on the part of the government to address the issue at hand.

Commenting on the latest defeat, suffered by Sri Lanka at the UNHRC, Minister Sabry said that the country was paying a very heavy price for failing to fulfill the promises made by successive governments before the international community.

Declaring that Sri Lanka couldn’t accept hybrid courts to examine accountability issues, Minister Sabry decried the co-sponsorship of the Geneva resolution, in Oct 2015, during the Yahapalana administration. Responding to criticism that only seven countries voted, objecting the resolution moved against Sri Lanka, Minister Sabry said that of the 20 countries that voted against Sri Lanka, many represented the EU. Minister Sabry said that the proponents of the resolution believed they could secure more than 24 votes though ended up with 20.

Sabry reiterated their commitment to do away with the Prevention of Terrorism Act (PTA) perhaps before end of this year to pave the way for a new law, in line with international standards.

Minister Sabry emphasised that the contentious issues of reconciliation and accountability should be addressed with appropriate mechanisms. Success of such projects depend largely on workable mechanisms, not individuals.



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Pakistan naval trio arrives at Colombo Port

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In a display of naval tradition, the Sri Lanka Navy formally welcomed the Pakistan Navy Ships ‘PNS Taimur’ and ‘PNS Aslat’, alongside the submarine ‘PNS/M Hangor’, arrived at the Port of Colombo on 01 Jun 26.

The Pakistan naval units made port in Sri Lanka for a goodwill visit as well as replenishment.

The visiting naval assets are commanded by a lineup of naval officers, with Captain Niamat Saeed Khan (‘PNS Taimur’), Captain Nadir Mateen Afridi (‘PNS Aslat’), and Captain Uzair Farooq (‘PNS/M Hangor’).

During their stay in Sri Lanka, the crew members of the visiting ships and submarine are scheduled to tour several key locations across the country.

Concluding the visit, the Pakistan naval units will engage in a Passage Exercise (PASSEX) with the Sri Lanka Navy off the west coast.

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IMF turning a blind eye to NPP corruption: Opp.

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Patali / G. L. Peiris

The People’s United Opposition yesterday (01) alleged that the International Monetary Fund (IMF) had turned a blind eye to serious corruption allegations against the NPP government and was going ahead with the USD 2.9 bn loan in terms of the Extended Fund Facility (EFF) programme, finalised in 2023.

Addressing the regular weekly media briefing at the Flower Road Office of former President Ranil Wickremesinghe, former Ministers Prof. G. L. Peiris and Patali Champika Ranawaka questioned the failure on the part of the IMF to act in spite of the NPP government engaging in open corrupt practices, contrary to the terms and conditions of the agreement/understanding with the lending agency.

The media was told that the IMF couldn’t absolve itself of the responsibility for the actions of the government, especially because Sri Lanka, experiencing severe economic difficulties, was receiving loans from IMF at over 8%. Ex-parliamentarian Ranawaka pointed out that what Sri Lanka received from the IMF was not JAICA-type soft loans and the country was further burdened.

Prof. Peiris and Ranawaka alleged that the IMF appeared to have chosen not to take up the serious and growing accusations, particularly over coal and fuel scams that caused massive losses. They claimed the government had taken decisions at the expense of the country but for the benefit of certain businessmen close to them.

Both Prof. Peiris and Ranawaka explained the circumstances under which certain persons and companies received privileged status to import very costly vehicles and even helicopters and aircraft as the government

wasted precious foreign reserves for the benefit of friends. Ranawaka named two companies that benefited from government actions while alleging that those engaged in lucrative coal and fuel business made a killing.

They pointed out that the IMF released the latest USD 695 mn amidst stepped up serious allegations against the government. (SF)

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Shavendra tells Beijing meet Sri Lanka should not become an arena for geopolitical rivalry among major powers

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Shavendra Silva

Former Commander of Sri Lanka Army with possibly the best battlefield record, having recovered the most amount of enemy occupied territory by troops he led from the front in the Vanni theatre of operations (2007-2009), General Shavendra Silva recently discussed growing challenges faced by smaller countries, like Sri Lanka, in what he called the evolving global environment.

Stressing that responsibilities must be shared across all states, the former Commander of the Sri Lanka Army told the 5th edition of the Wanshou Dialogue on Global Security in Beijing: “Major powers bear a special responsibility to exercise strategic restraint, avoid coercive practices, uphold international law, and contribute toward global stability rather than fragmentation.

Emerging and middle powers have an increasingly important role as bridge builders promoting dialogue, cooperation, and institutional reform.

For countries such as Sri Lanka, the path forward lies in principled and balanced diplomacy.

This requires maintaining constructive relations with all nations while safeguarding sovereignty, strategic independence, and national interests.

Sri Lanka has consistently maintained that its territory should not become an arena for geopolitical rivalry or military confrontation among larger powers.

Instead, our focus remains on strengthening national resilience through economic development, institutional stability, maritime awareness, modern defence capabilities, and agile diplomacy.

Credible domestic institutions, accountable governance, and national cohesion ultimately strengthen sovereignty while reducing opportunities for external interference.”

Referring to his service as Ambassador and Deputy Permanent Representative of Sri Lanka to the UN in New York, General Silva said that his engagements at the UN and other international forums reinforced the importance of defending national interests while remaining committed to reconciliation, development, and peaceful coexistence.

The celebrated battlefield commander discussed the transformation of global security, the future direction of the international order and the responsibilities of states in this transitional era. Silva said: “Today, security threats extend far beyond conventional warfare.

Cyber threats, terrorism, disinformation, economic coercion, artificial intelligence, and the weaponisation of technology increasingly influence global stability. At the same time, climate change, pandemics, food insecurity, and economic disruptions have demonstrated how closely national security and human security are now interconnected.

For Sri Lanka, located at the centre of the Indian Ocean along one of the world’s most important maritime trade routes, these developments carry direct strategic significance. Sri Lanka’s own experience offers valuable lessons.

The defeat of the LTTE, in 2009 demonstrated the importance of decisive state action against terrorism, while also revealing how modern conflicts become internationalised through financing networks, propaganda, illicit arms flows, and external geopolitical pressures.

The post-conflict period further reinforced the importance of reconciliation, economic recovery, institutional rebuilding, and long-term national resilience.

Smaller states increasingly face pressures arising from great-power rivalry, economic dependency, and strategic competition.

Sri Lanka has, therefore, consistently sought to maintain strategic balance while safeguarding sovereignty and constructive engagement with all partners.

China has remained an important development and economic partner for Sri Lanka over many decades. The relationship, strengthened through the 1952 Rubber-Rice Pact, expanded significantly in the post-war period through cooperation in infrastructure, connectivity, logistics, energy, and economic recovery. Projects associated with the Belt and Road Initiative have contributed to Sri Lanka’s development, regional connectivity, and post-crisis resilience. China also extended support during the COVID-19 pandemic and Sri Lanka’s recent economic stabilisation efforts.

The future international order must be shaped not by confrontation or exclusive blocs, but through pragmatic cooperation, institutional reform, and balanced multilateral engagement.

International institutions, particularly the United Nations system, must evolve to better reflect contemporary geopolitical realities and the growing voice of the Global South.

Without greater inclusivity and legitimacy, multilateral institutions risk losing effectiveness in addressing increasingly complex global challenges.

Equally important is preserving a rules based maritime order grounded in international law, particularly the principles of the United Nations Convention on the Law of the Sea.

The international community must also establish clearer norms governing emerging technologies, cyber operations, artificial intelligence, autonomous weapons systems, and outer space security.

Sri Lanka’s recent economic stabilisation efforts further demonstrated that internal resilience is essential for maintaining strategic autonomy and an independent foreign policy.

It is also an opportunity to build a more inclusive, balanced, and resilient international order capable of responding to the realities of the 21st century.

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