News
IMF lauds Sri Lanka’s economic turnaround, highlights regional resilience
Sri Lanka’s economy has “stabilised decisively” under its International Monetary Fund (IMF)-supported programme, with growth rebounding, tax revenues doubling, and inflation sharply declining, a senior IMF official said in Colombo yesterday.
Dr. Krishna Srinivasan, Director of the IMF’s Asia and Pacific Department, delivered the assessment during a public lecture on the IMF Regional Economic Outlook: Asia and Pacific, held at the Central Bank of Sri Lanka. He was joined by Dr. Thomas Helbling, the Department’s Country Director.
Both officials commended the Asia-Pacific (APAC) region’s overall economic resilience in the face of global challenges and advocated for deeper trade and supply chain integration to mitigate vulnerabilities in international trade.
Presenting a country-focused analysis, Dr. Srinivasan outlined how Sri Lanka has performed against the five key pillars of the IMF programme:
Revenue-based fiscal consolidation, supported by tax reforms and strengthened social safety nets.
Restoring debt sustainability through fiscal adjustment and debt restructuring.
Maintaining price stability and rebuilding foreign exchange reserves.
Safeguarding external stability.
Combating corruption via a comprehensive anti-corruption reform agenda.
“Sri Lanka has come out of the crisis stabilising its economy across three dimensions,” Dr. Srinivasan stated referring to Sri Lanka’s Growth, Revenue, and Inflation. He highlighted that growth “bounced back decisively,” turning positive within six months of the programme and recently averaging about 5 percent annually.
On fiscal performance, he noted a “significant turnaround.” Tax revenue has doubled from a critically low 7.3 percent of GDP to 14.8 percent in 2025.

Dr. Krishna Srinivasan / Dr. Thomas Helbling
Furthermore, inflation has dropped “in a very convincing manner” from approximately 70 percent to the current 2-3 percent range. “One would hope that in the next few quarters, it will reach the Central Bank’s target of 5 percent,” he added.
“Overall, the IMF programme for Sri Lanka has delivered on many of its objectives,” Dr. Srinivasan concluded. “There is still a long way to go in terms of securing strong, sustained, balanced growth, but the program is off to a very good start. All of you, the authorities, and the people of Sri Lanka need to be congratulated for the progress made so far,” he said.
In his regional remarks, Dr. Srinivasan projected that Artificial Intelligence (AI) will be a key driver of the Asian economy. He suggested that technology companies in the region would be “better served by the capital markets than from conventional banks,” pointing to a need for evolved financial ecosystems to support innovation.
The lecture underscored the IMF’s constructive outlook for Asia’s continued resilience, while emphasising structural reforms and regional cooperation as vital for future stability and growth.
By Sanath Nanayakkare
News
Health authorities on high alert over Nipah Virus threat
Sri Lanka has stepped up efforts to detect and respond to a potential outbreak of the deadly Nipah virus (NiV), with health authorities enhancing surveillance and laboratory readiness amid growing concerns in the region.
The Medical Research Institute (MRI), the country’s premier laboratory, has upgraded its testing capacity with the latest technology to identify the Nipah virus, enabling early detection of suspected cases, an MRI source said.
Nipah virus is a highly infectious zoonotic disease that can spread from animals
to humans and also through human-to-human contact. Fruit bats are the natural hosts of the virus.
First identified in Malaysia in 1988, the virus has since caused deadly outbreaks in countries including India and Bangladesh. Experts warn that Sri Lanka, with its close human-animal interactions and tropical climate, must remain vigilant against such emerging infectious diseases.
The case fatality rate of Nipah virus ranges from 40% to 75%, making it one of the most lethal viral infections affecting humans. There are currently no specific drugs or vaccines, with treatment relying mainly on intensive supportive care, health specialists say.
Symptoms of infection initially include fever, headaches, muscle pain, vomiting, and sore throat, followed by dizziness, drowsiness, altered consciousness, and neurological signs indicating acute encephalitis. Severe cases may progress to atypical pneumonia, acute respiratory distress, seizures, and coma within 24 to 48 hours.Authorities continue to urge heightened awareness and precautionary measures, emphasizing that early detection and rapid response are key to preventing outbreaks.
by Chaminda Silva ✍️
News
Free Media Movement demands govt. accountability on free speech issues
The Free Media Movement (FMM) has demanded government accountability on many freedom of expression issues referred to in a statement issued by the Human Rights Commission in a statement issued last week.
The statement under the hands of FMM Convener Lasantha De Silva and Secretary Dileesha Abeysundera says FMM has paid close attention to the statement issued by the Human Rights Commission (HRC) under reference number HRC/S/i/E/03/02/26. It has also informed that global stakeholders, including the International Federation of Journalists—of which it is a member—that are already closely monitoring this matter.
In its statement, HRC has elaborated at length on the issues that have arisen in Sri Lanka concerning freedom of expression and online safety. It specifically points out that the actions of the Sri Lanka Police have been a major contributing factor to these concerns. The Commission notes that recent conduct of the police has indirectly interfered even with the professional activities of journalists.
HRC has also drawn attention to the practice of summoning journalists and other activists before the police without providing clear reasons, in violation of circulars issued by the IGP. In certain instances, the police have stated that journalists were summoned due to alleged defamation arising from media activities.
However, freedom of expression guaranteed by the Constitution is restricted only within constitutionally prescribed limits. Accordingly, defamation that is no longer a criminal offence cannot be acted upon by the police. Such matters constitute civil offences that must be resolved before courts of law. The Commission further observes that attempts by politicians and others to lodge complaints with the Criminal Investigation Department regarding defamation are efforts to portray defamation as a criminal offence.
The HRC statement also addresses the Online Safety Act. While emphasizing the need to be mindful of online safety, the Commission points out that the current law does not address genuine needs. Therefore, as already demanded by many stakeholders, the government has the option to repeal this Act.
In addition, HRC has outlined a three-pronged approach that should be adopted to safeguard freedom of expression, as guaranteed by the Constitution and in line with Sri Lanka’s commitments under the Universal Declaration of Human Rights of the United Nations.
FMM said it is of the view that the Government of Sri Lanka must give serious consideration to this statement and to the recommendations emphasized therein. “This is a moment in which the accountability of the Sri Lankan government is being questioned. Accordingly, the Free Media Movement urges the government to take immediate steps to implement the recommendations set out in this statement,” it said.
News
Opposition alleges Govt deliberately delaying PC polls
ITAK Batticaloa District MP Shanakiyan Rasamanickam accused the government in Parliament on Friday of deliberately delaying Provincial Council elections, pointing to its failure to nominate members to a Parliamentary Select Committee.
The committee, tasked with considering matters related to Provincial Council polls, was announced on 6 January 2026. Opposition parties submitted their nominees promptly.
However, a month later, the government has yet to name its eight members, preventing the committee from being constituted and from commencing its work, Rasamanickam alleged.
Opposition representatives argue that this delay represents intentional inaction aimed at postponing elections. They urged the government to appoint its nominees without further delay to allow the committee to proceed.
-
Business2 days agoZone24x7 enters 2026 with strong momentum, reinforcing its role as an enterprise AI and automation partner
-
Business6 days agoSLIM-Kantar People’s Awards 2026 to recognise Sri Lanka’s most trusted brands and personalities
-
Business7 days agoAll set for Global Synergy Awards 2026 at Waters Edge
-
Business6 days agoAPI-first card issuing and processing platform for Pan Asia Bank
-
Business2 days agoHNB recognized among Top 10 Best Employers of 2025 at the EFC National Best Employer Awards
-
Business2 days agoGREAT 2025–2030: Sri Lanka’s Green ambition meets a grid reality check
-
Editorial4 days agoAll’s not well that ends well?
-
Features4 days agoPhew! The heat …
