News
Domestic debt restructuring could have devastating impact on country, warns GL
By Shamindra Ferdinando
The International Monetary Fund (IMF) owed an explanation as regards the recent government declaration that domestic debt restructuring was part of the programme implemented in terms of Sri Lanka’s agreement with the lending agency, top Opposition spokesperson Prof. G.L. Pieris, MP said yesterday (10).
Having repeatedly assured that domestic debt wouldn’t be restructured, the government had announced the controversial move, Prof. Peiris said at the weekly media briefing at Freedom People’s Alliance Office at Nawala.
Prof. Peiris asserted that the proposed domestic debt restructuring involved as much as Rs 04 trillion in Treasury bills and Rs 08 trillion in Treasury bonds.
The Central Bank recently declared that it was also exploring the possibility of a domestic debt optimisation (DDO) operation aimed at liquidity relief while preserving financial stability to avoid further eroding of Sri Lanka’s repayment capacity. The Central Bank has stated this DDO would be conducted on a voluntary basis and be based on consultations with major T-Bonds holders.
Prof. Peiris said that they expected to take up the entire gamut of issues with the IMF in June when a Fund delegation was expected to visit Colombo for the first review of the USD 2.9 bn bailout package. The MP said that the IMF couldn’t absolve its responsibility for what was happening here where the ruling alliance went to the extent of targeting Supreme Court judges.
The former minister said though they were still not sure whether the IMF agreement was made available.
The SLPP rebel group spokesman questioned the impact the domestic debt restructuring/DDO operation would have on the Employees Provident Fund (EPF) and Employees Trust Fund (ETF). A significant impact on those funds would cause a crisis of unprecedented magnitude, Prof. Peiris said, adding that overall the growing public anger over the proposed privatization of profit making public enterprises and new tax regime were likely to trigger protests.
Prof. Peiris alleged that the new Anti-Terrorism Act was meant to suppress public protests. Describing the new law as repressive legal regime, the former Law Professor said that the Wickremesinghe-Rajapaksa dispensation was preparing to launch massive onslaught on public freedoms.
The former minister said that having disrupted the Election Commission, now the government was busy attacking the Human Rights Commission. The SLPP MP questioned the rationale in influencing selected members of the HRC against its Chairperson Justice Rohini Marasinghe.
Latest News
Landslide RED warnings continue to be in force for the Districts of Kandy, Kegalle, Kurunegala, Matale and Nuwara Eliya
The RED Landslide Early Warnings issued by the Landslide Early Warning Center of the National Building Research Organization [NBRO] to the Districts of Kandy, Kegalle, Kurunegala, Matale and Nuwara Eliya have been extended until 1600hrs today [06th December 2025]. Landslide Early warnings have also been issued to the districts of Badulla, Colombo, Galle, Gampaha, Kalutara, Matara, Monaragala and Ratnapura,
Accordingly,
LEVEL III RED warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Gangawata Korale, Deltota, Doluwa, Thumpane, Medadumbara, Minipe, Pathahewaheta, Yatinuwara, Ganga Ihala Korale, Akurana, Udunuwara, Panvila, Pathadumbara, Kundasale, Pasbage Korale, Hatharaliyadda, Ududumbara, Poojapitiya, Harispattuwa and Udapalatha in the Kandy district, Galigamuwa, Kegalle, Mawanella, Rambukkana, Dehiowita, Warakapola, Deraniyagala, Bulathkohupitiya, Ruwanwella, Yatiyanthota and Aranayaka in the Kegalle district, Narammala, Mawathagama, Mallawapitiya, Alawwa, Rideegama and Polgahawela in the Kurunegala district, Rattota, Wilgamuwa, Ukuwela, Pallepola, Matale, Laggala Pallegama, Yatawatta, Naula and Ambanganga Korale in the Matale district, and Nildandahinna, Walapane, Hanguranketha and Mathurata in the Nuwara Eliya district.
LEVEL II AMBER warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Uva Paranagama, Kandeketiya, Bandarawela, Soranathota, Hali_Ela, Meegahakivula, Badulla, Ella, Haputhale, Lunugala, Welimada, Passara and Haldummulla in the Badulla district, Nuwara Eliya, Ambagamuwa Korale, Thalawakele, Norwood, Kothmale West and Kothmale East in the Nuwara Eliya district, and Kahawaththa, Godakawela and Kolonna in the Ratnapura district.
LEVEL I YELLOW warnings have been issued to the Divisional Secretaries Divisions and surrounding areas of Padukka and Seethawaka in the Colombo district, Elpitiya and Yakkalamulla in the Galle district, Mirigama, Attanagalla and Divulapitiya in the Gampaha district, Bulathsinhala, Ingiriya and Horana in the Kalutara district, Athuraliya and Pasgoda in the Matara district, Bibile and Medagama in the Monaragala district, and Kiriella, Nivithigala, Eheliyagoda, Kuruwita, Kalawana, Pelmadulla, Elapatha, Balangoda, Openayake, Imbulpe, Ayagama, Ratnapura and Kaltota in the Ratnapura district.
News
IMF pledges additional aid to Lanka following Cyclone Ditwah destruction
The International Monetary Fund (IMF), on Thursday, signalled strong solidarity with Sri Lanka in the wake of Cyclone Ditwah, confirming that it is actively exploring options to provide further support for recovery and resilience beyond the existing Extended Fund Facility (EFF).
Julie Kozack, Director of the IMF’s Communications Department, opened her remarks with heartfelt condolences:
“Our deepest sympathies go out to the people of Sri Lanka for the effects of the devastating cyclone. Our hearts mourn the loss of life that has taken place,” she said, extending condolences to other Asian nations also grappling with severe flooding, including Indonesia, Malaysia, Thailand, and Vietnam.
On Sri Lanka, Kozack emphasised that the IMF is closely engaging with authorities, development partners, and counterparts to assess the humanitarian, social, and economic toll of the disaster.
“Large parts of Sri Lanka have been affected by floods, and we expect economic activity to be adversely impacted, in addition to the significant human toll,” she noted.
The IMF is awaiting the completion of a rapid post-disaster damage assessment, led by Sri Lankan authorities, in collaboration with international partners, to better gauge the economic impact.
“We are continuing to support Sri Lanka’s recovery, reform, and resilience under the EFF arrangement. Our staff is looking into options to further support Sri Lanka in the recovery process,” Kozack confirmed.
She reiterated that the Board meeting, scheduled for 15 December, remains on track, following the staff-level agreement on the fifth review reached in October—prior to the cyclone.
“We will provide additional details as the assessment of economic needs and damages moves forward, and as we have more information to inform our thinking around the options,” she added.
News
Marrikkar Mohamed Thahir takes oath as SJB National List MP
Naina Thambi Marikkar Mohamed Thahir was sworn in as a Samagi Jana Balawegaya (SJB) National List Member of Parliament before Speaker Dr. Jagath Wickramaratne yesterday (05).
His appointment follows the resignation of SJB Parliamentarian Muhammathu Ismail Muththu Mohamed, who stepped down from his position on 28 November.
The SJB subsequently nominated Thahir to fill the resulting vacancy.
Accordingly, the Election Commission issued a Gazette Extraordinary declaring Naina Thambi Marikkar Mohamed Thahir a Member of Parliament, in terms of Section 64(5) of the Parliamentary Elections Act, No. 1 of 1981, as amended by Section 6 of the Elections (Special Provisions) Act, No. 35 of 1988.
With the issuance of the gazette, and the subsequent swearing-in, Thahir has officially assumed duties as a National List MP, representing the SJB.
-
News6 days agoWeather disasters: Sri Lanka flooded by policy blunders, weak enforcement and environmental crime – Climate Expert
-
Latest News7 days agoLevel I landslide RED warnings issued to the districts of Badulla, Colombo, Gampaha, Kalutara, Kandy, Kegalle, Kurnegala, Natale, Monaragala, Nuwara Eliya and Ratnapura
-
Latest News7 days agoINS VIKRANT deploys helicopters for disaster relief operations
-
News3 days ago
Lunuwila tragedy not caused by those videoing Bell 212: SLAF
-
Latest News4 days agoLevel III landslide early warnings issued to the districts of Badulla, Kandy, Kegalle, Kurunegala, Matale and Nuwara-Eliya
-
News2 days agoLevel III landslide early warning continue to be in force in the districts of Kandy, Kegalle, Kurunegala and Matale
-
Features4 days agoDitwah: An unusual cyclone
-
Latest News7 days agoWarning for Cyclonic storm “Ditwah”
