News
Debate on debt-restructuring deals put off amidst allegations that Opp. denied access to agreements
Prez seeking unfair advantage, politicising bankruptcy – Prof. Peiris
By Shamindra Ferdinando
Top Opposition spokesman Prof. G. L. Peiris yesterday (01) asked the Wickremesinghe-Rajapaksa government to explain how it intended to work out an agreement with external private commercial creditors.
Of Sri Lanka’s total debt, 39.5 % were owed to external private commercial creditors, with ISBs amounting to a staggering 33.6%, the former External Affairs Minister said, urging the government to come clean on the issue at hand without seeking political advantage over the recently finalised agreement with Official Creditor Committee (OCC) USD 5.8 bn debt restructuring coupled with the USD 4.2 billion debt agreement with China.
Prof. Peiris dealt with the two agreements at his regular media briefing at the Nawala Office of the pro-SJB People’s Freedom Congress, a breakaway faction of the SLPP.
Sri Lanka, on June 26, finalised an agreement with OCC to restructure the debt owed to its bilateral lenders, including India and Japan, and signed a separate agreement with China for debt treatment. The agreement with China dealt with USD 4.2 bn.
Instead of seeking the best possible arrangements for the country, Prof. Peiris charged that the government sought to exploit the debt restructuring process to the advantage of Ranil Wickremesinghe’s presidential election campaign. The country could have had secured a better deal from OCC if the government didn’t pursue a political agenda, Prof. Peiris said, claiming that undue haste caused irreparable losses to Sri Lanka’s cause.
The Island sought an explanation from Prof. Peiris as to why he refrained from commenting on the debt treatment agreement with China’s Exim Bank. The academic said that the agreement with China was due to the absence of direct relevance to core of his presentation to the media.
Referring to the convening of Parliament at 9.30 am today (02) as requested by Prime Minister Dinesh Gunawardena, to debate the Resolution for the Implementation of External Debt Restructuring Agreements, Prof. Peiris said that at that time he addressed the media at 10 am on July 1 the Opposition was yet to receive the relevant agreements.
The Public Finance Committee and all members of Parliament should have had access to those documents the moment the Premier requested the Speaker to convene Parliament on July 2 at 9.30. The Parliament scheduled the debate for July 2 and 3.
Prof. Peiris said that at the end of the two-day debate, the vote on the Resolution for the Implementation of External Debt Restructuring Agreements was to be held.
However, soon after the end of the briefing, Prof. Peiris informed The Island that the government had cancelled the debate scheduled for today. The three-page resolution that had been distributed wouldn’t be moved and the day’s business would be restricted to President Wickremesinghe’s speech. Furthermore, the second day of the debate had been cancelled, Prof. Peiris said.
Prof. Peiris said that those who portrayed President Wickremesinghe as the man of the moment in the wake of finalisation of the agreement with OCC should keep in mind the total external debt had risen to USD 100.9 bn – 19.2% increase since he joined the government in May 2022.
The actual situation is quite serious and further deteriorating, Prof. Peiris said, urging the government to adopt a result-oriented genuine strategy instead of seeking petty political advantage ahead of the presidential election. The former Minister alleged that instead of taking the Opposition and public to confidence the government sought to manipulate the electorate to Wickremesinghe’s advantage.
Pointing out that Ghana, experiencing severe financial difficulties, had handled debt restructuring talks successfully with commercial lenders, Prof. Peiris said Sri Lanka failed pathetically to push for better conditions. Those who negotiated on behalf of Sri Lanka couldn’t achieve the desired results as they were forced to pursue a political agenda, the dissident SLPPer said.
The ex-Minister said that proper debate on debt restructuring deals could be held after the Opposition received the agreements signed in Paris.
News
Colombo Law Society objects to judges’ retirement age move
…Urges President not to undermine public confidence in independence of judiciary
The Colombo Law Society has urged President Anura Kumara Dissanayake not to proceed with any constitutional amendment to extend the retirement age of Supreme Court and Court of Appeal judges, warning that such a move could undermine public confidence in the independence of the judiciary.
In a letter dated July 2, 2026, the Society said its Executive Committee had unanimously resolved to convey its concerns following reports of a proposal to increase the retirement age of judges of the superior courts.
The Society said any amendment affecting the tenure of sitting judges should be approached with caution, adding that public confidence in the independence of the judiciary must be safeguarded.
Full text of the letter: The Executive Committee of the Colombo Law Society, at its duly convened meeting held on 25 June 2026, deliberated extensively on the reported proposal to increase the retirement age of Judges of the Court of Appeal and the Supreme Court.
Having carefully considered the matter, the Executive Committee unanimously resolved to convey its concerns to Your Excellency and to express its support for the position taken by the Bar Association of Sri Lanka in its letter addressed to Your Excellency, dated 25 May, 2026.
The Colombo Law Society recognizes and appreciates the invaluable contribution made by members of the higher judiciary to the administration of justice in Sri Lanka. However, we respectfully take the view that any alteration to the constitutionally established retirement age of Superior Court Judges must be approached with the utmost caution and only after broad consultation with all relevant stakeholders.
The existing retirement ages of Judges of the Court of Appeal and the Supreme Court have remained unchanged since the promulgation of the 1978 Constitution. Any departure from this long-standing constitutional framework, particularly where it affects serving judges, may give rise to public concern and perceptions that could undermine confidence in the independence and impartiality of the judiciary.
The independence of the judiciary is one of the cornerstones of the Rule of Law and democratic governance. Equally important is the public perception of such independence. The judiciary must not only be independent in fact but must also be seen to be independent and free from any appearance of influence or accommodation.
The Colombo Law Society further notes that the number of Judges of both the Court of Appeal and the Supreme Court was increased through constitutional reform in 2020. In those circumstances, questions naturally arise as to whether there exists a compelling institutional necessity to alter the retirement age of Superior Court Judges at this juncture.
We respectfully submit that constitutional amendments relating to the judiciary should be undertaken only after careful consideration of their long-term impact on judicial independence, public confidence, and the constitutional framework of the Republic.
Accordingly, the Colombo Law Society respectfully urges Your Excellency to give the fullest consideration to the concerns expressed by the legal profession and to refrain from proceeding with any constitutional amendment seeking to extend the retirement age of Judges of the Court of Appeal and the Supreme Court.
We remain confident that Your Excellency will continue to uphold and safeguard the independence, integrity, dignity, and public confidence in the judiciary, which remain essential to the preservation of the Rule of Law and democratic governance in Sri Lanka.
News
Freedom 250: US Embassy celebrates America’s 250th Independence Day through magic of American cinema
The US Embassy in Sri Lanka commemorated America’s semiquincentennial—250 years of independence—with Chief Guest, Minister of Health and Mass Media Nalinda Jayatissa, and hundreds of Sri Lankan partners, government officials, business leaders, diplomats and friends of the United States, at a Freedom 250 celebration honouring the enduring power of freedom through the lens of American cinema. The July 2 celebration highlighted the ideals that have shaped the United States for two and a half centuries—individual liberty, self-government, freedom of expression, and the belief that free people can dream, create, and shape their own future. The Embassy grounds were transformed into an immersive cinematic experience, celebrating how American films have reflected those freedoms while inspiring audiences across generations and around the world, including in Sri Lanka.
Welcoming guests to the celebration, Chargé d’Affaires Jayne Howell reflected on the profound connection between American freedom and cinematic storytelling. “Tonight, we celebrate 250 years of American independence by honouring one of our nation’s greatest gifts to the world—the art of cinema,” she said.
“For more than a century, American filmmakers have used their creative freedom to craft stories that resonate across every border and culture. From the opening of the world’s first dedicated movie theater in New Orleans, in 1896, to the groundbreaking animation of Snow White, from the sweeping epics like The Godfather to the technological marvels of Avatar, Star Wars and Jurassic Park, and classics like The Bridge on the River Kwai—filmed in Sri Lanka and forever linking the island to Hollywood history—our films reflect the very freedoms we celebrate today—the freedom to dream boldly, to question deeply, and to imagine new possibilities.”
CDA Howell continued, “As we share this cinematic journey with our Sri Lankan friends—fellow champions of democracy and freedom—we’re reminded that the best American stories are universal stories. They speak to the courage we see in The Wizard of Oz, the unity we witness in The Avengers, the wonder we experience through E.T., the spirit of exploration and achievement captured in films like Apollo 11, and the resilience we admire in Forrest Gump. Tonight, we celebrate not just American cinema, but the freedom that makes it possible—the freedom to tell any story, to show America at its best and its most complex, and to believe that movies can change how we see ourselves and each other. That freedom is what we honour on this 250th anniversary and the enduring values that will guide us forward.”
The evening opened with a stunning visual spectacle: rooftop screens displayed on the Embassy building celebrating 250 years of American independence and commemorating the signing of the Declaration of Independence on July 4, 1776. The centerpiece was an open-air screening, under the stars, featuring carefully curated clips that traced American cinema’s evolution—from silent films that established visual storytelling techniques still used today, through Disney’s Snow White and the Seven Dwarfs (the first full-length animated feature), The Matrix’s groundbreaking “bullet time” effects, to Christopher Nolan’s The Dark Knight, which redefined superhero cinema as a vehicle for exploring complex questions about justice and society.
The celebration concluded with fireworks illuminating the Colombo sky as the III Marine Expeditionary Force Band, the US Marine Corps’ forward-deployed band in the Indo-Pacific region, based in Okinawa, Japan, performed a montage of American songs that have inspired generations. Guests enjoyed a menu featuring high-quality US beef and other American food and beverages, showcasing the global reputation of American agricultural exports.
As the United States marks 250 years of independence, Freedom 250 celebrates the enduring idea that has defined America since 1776—that freedom unlocks human potential, fuels creativity and innovation, and empowers individuals to shape a better future. Through education, trade, investment, security cooperation, and the enduring ties between our people, the United States and Sri Lanka continue to strengthen a partnership built on opportunity and shared democratic values.
The US Embassy extends its sincere gratitude to the generous sponsors whose support made this year’s Independence Day celebration possible, including Diamond Sponsors Brandix, Hayleys, Hirdaramani, MAS Holdings, Mastercard, RM Parks, and Visa, along with our other valued partners.
News
CA dismisses application filed by Yoshitha seeking to quash conspiracy charge in money laundering case
The Court of Appeal yesterday dismissed a revision application filed by Yoshitha Rajapaksa seeking to quash a conspiracy charge in the money laundering case, pending before the Colombo High Court.
Rajapaksa had challenged the conspiracy count in the indictment filed by the Attorney General, under the Prevention of Money Laundering Act, contending that the charge was not legally maintainable.
A Court of Appeal Bench, comprising Justices Amal Ranaraja and Dr. Sumudu Premachandra, rejected the application, ruling that the conspiracy charge could proceed before the Colombo High Court.
The ruling clears the way for the High Court to continue hearing the money laundering case, filed by the Attorney General against Rajapaksa.
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