Features
IMF relief is not economic recovery: Sri Lanka’s real test begins now
The IMF’s latest decision to release approximately US$695 million to Sri Lanka provides an important measure of financial relief, but it should not be mistaken for full economic recovery. While the approval reflects progress in stabilisation, fiscal discipline, and reform implementation, the country still faces deep structural weaknesses, social pressures, and external risks. The real test begins now: whether Sri Lanka can convert this temporary breathing space into lasting reform, productive growth, stronger institutions, and national resilience. This moment should not be used for political celebration, but for serious national reflection and responsible action. Sri Lanka must now resolve to support a clear policy direction, a practical reform programme, and a long-term national development path — not merely an individual, a party, or a political camp.
1. IMF Relief: A Necessary Step, but Not a Final Solution
The IMF Executive Board recently completed the combined Fifth and Sixth Reviews under Sri Lanka’s Extended Fund Facility, allowing the country immediate access to SDR 508 million, approximately US$695 million. This decision represents an important step in Sri Lanka’s ongoing economic recovery process following the severe crisis that led to sovereign debt default, shortages of essential goods, high inflation, and the collapse of foreign reserves in 2022.
However, this decision must be understood with great sensitivity. IMF relief is not the same as full economic recovery. It gives Sri Lanka temporary breathing space, helps rebuild a certain level of international confidence, and supports the continuation of the reform programme. However, this relief is not a magic solution that can automatically resolve the country’s deep-rooted economic problems. Fundamental challenges such as the debt burden, weak productive capacity, low export earnings, poor public revenue performance, weak fiscal management, excessive dependence on imports, corruption, and inefficient state-owned enterprises still remain unresolved. Addressing these challenges requires domestic reforms, disciplined policies, stronger production and export capacity, and a long-term national development programme. Therefore, the IMF decision should not be treated as a political victory or as proof of complete economic success. Rather, it should be seen as a reminder that Sri Lanka still has a long and difficult journey ahead.
2. Sri Lanka’s Progress Recognised by the IMF and Its Limits
The IMF’s approval indicates that Sri Lanka has made progress in several important areas. Inflation has been brought under control compared to the extreme levels experienced during the crisis. Foreign reserves have improved, the exchange rate has shown greater stability, and fiscal management has become more disciplined. The government has also continued to implement reforms in taxation, public finance, energy pricing, and debt restructuring.
According to the IMF assessment, performance under the programme has generally been strong. Several quantitative performance targets have been met, while many structural benchmarks have either been achieved or implemented with some delay. This shows that Sri Lanka has remained broadly committed to the reform path agreed under the IMF-supported programme.
Yet this progress remains fragile. Stability achieved through external support must now be converted into genuine economic strength.
3. Conditions and Responsibilities Attached to the IMF Programme
IMF support does not come merely as financial relief; it comes with a set of important reform conditions and responsibilities that Sri Lanka must fulfil. Key among them are maintaining fiscal discipline, improving government revenue, continuing cost-reflective pricing for fuel and electricity, strengthening public financial management, restructuring state-owned enterprises, protecting institutional independence, and preventing the accumulation of new external payment arrears.
The main objective of these conditions is to restore macroeconomic stability, strengthen fiscal credibility, and rebuild international confidence in Sri Lanka. However, these reforms also carry social and political consequences. Higher taxes, market-based utility pricing, and strict expenditure controls can place a heavy burden on ordinary citizens, especially low-income families, small businesses, pensioners, and salaried workers. Therefore, in implementing reforms, economic discipline alone is not enough. Fairness, transparency, and social sensitivity towards vulnerable groups must also be treated as essential priorities.
4.The Impact of IMF Conditions on People and the Economy
One major social consequence of the IMF programme is the increased pressure it can place on household incomes and living standards. When electricity, fuel, and other essential services are priced on a cost-recovery basis, people may have to face a higher cost of living. Although such reforms are necessary to reduce the losses of state-owned enterprises and maintain fiscal discipline, they can weaken the purchasing power of ordinary citizens if strong social protection programmes are not in place.
Another important consequence is the pressure placed on the operating costs and stability of small and medium-sized enterprises. Higher taxes, increased utility costs, fuel and electricity expenses, and the rising cost of borrowing can affect business survival, job creation, and new investment decisions. If reforms are implemented without sufficient attention to production, exports, and small businesses, the country may achieve short-term fiscal stability, but long-term economic growth could remain weak.
There is also a political risk that cannot be ignored. If people feel that the burden of reform is not being shared fairly, reform fatigue and public frustration may emerge. If ordinary citizens are expected to make sacrifices while corruption, waste, and political privileges continue, public confidence in the reform process will decline. Therefore, for IMF-supported reforms to succeed, fairness, transparency, and social sensitivity must be firmly ensured alongside economic discipline.
5. The Real Test Before Sri Lanka
Sri Lanka’s real test begins now. Beyond temporary financial relief, the country must now prove that it can build a strong economy that generates income and can withstand external shocks. Therefore, our objective should not be limited to securing the next IMF tranche. While an IMF tranche may provide short-term breathing space, it does not guarantee long-term economic independence or stability. The real objective should be to create an economy that does not have to return to the IMF repeatedly during every crisis, but can stand on its own productive strength, export earnings, and fiscal discipline.
This requires fiscal discipline. However, discipline alone is not enough; economic growth is also necessary. Taxation is necessary. But increasing taxes alone is not a solution; production, investment, and exports must also be expanded. Debt restructuring is necessary. But beyond reducing the debt burden, Sri Lanka must also build an economic foundation that does not depend excessively on borrowing in the future. Sacrifices may be asked of the people. But for those sacrifices to be fair, accountability, transparency, and exemplary conduct from leaders are also essential.
Economic recovery cannot be sustained in the long term through financial assistance alone. Such support can provide breathing space during a crisis, but a country is rebuilt on the strength of its own institutions, productive capacity, export competitiveness, and public trust. Therefore, what Sri Lanka needs today is strong institutions, income-generating industries, a broader export base, food security, energy security, and a system of governance that people can trust.
6. Policy Priorities for Sustainable Recovery
Sri Lanka must now move from crisis management to national transformation. First, fiscal discipline should continue, but it must be fair. Revenue mobilisation should not rely only on increasing taxes on the same groups of people. The tax base must be broadened, tax administration must be improved, and tax evasion must be reduced.
Second, social protection must be strengthened. The most vulnerable groups should be protected through well-targeted assistance. Reforms will be more acceptable if people feel that the poor, elderly, disabled, and low-income families are not abandoned.
Third, state-owned enterprise reform should be carried out with transparency and public accountability. The objective should not merely be privatisation, but efficiency, professionalism, financial discipline, and better service delivery.
Fourth, Sri Lanka must prioritise export-led growth. The country cannot build a stable future by depending mainly on borrowing, remittances, and consumption. Agriculture, tourism, manufacturing, IT services, logistics, education, and value-added exports must become central pillars of national development.
Fifth, governance reform is essential. Without reducing corruption, political interference, wasteful expenditure, and weak implementation, no IMF programme can create lasting recovery. Economic reform and governance reform must move together.
7. From Temporary Relief to Lasting Recovery
The IMF decision gives Sri Lanka an important opportunity. It provides the country with space to strengthen economic stability, rebuild international confidence, and move forward with essential reforms. However, it is not a guarantee of success. It is only a step that gives the country some breathing space. It is now Sri Lanka’s responsibility to use that space wisely, with discipline and accountability to the people.
The country must now decide whether it will continue the old cycle of crises, debt, temporary relief, and political blame, or whether it will build a new national programme based on discipline, productive capacity, fairness, and accountability.
At this moment, true success cannot be measured by the amount of money received. It must be measured by whether Sri Lanka can build an economy that produces more, exports more, saves more, is governed better, and protects its people more effectively. The real victory is not receiving IMF relief, but building a strong national economy that will not depend excessively on such relief in the future.
Public Appeal: Let Us Choose a Programme, Not a Personality
This US$695 million will not solve every problem in our country. It may provide temporary financial relief and support the continuation of reforms, but it cannot replace the hard work required to build a productive, disciplined, inclusive, and self-reliant economy.
Therefore, this is the right time for all Sri Lankans to rise above narrow political loyalties and support a clear policy direction, a practical reform programme, and a long-term national development agenda — not merely an individual, a party, or a political camp. What Sri Lanka needs today is not the victory of a personality, but the victory of a responsible national programme that can restore confidence, protect the vulnerable, promote production, strengthen exports, ensure accountability, and secure a better future for the next generation. The question before us is simple but decisive: are we ready to make that choice?
by Prof. Ranjith Bandara,
PhD (Qld.,)
Features
‘The devil is in the details’ in West Asian peace
It is obviously too early for an outpouring of joy over the seeming cessation of hostilities between the main antagonists in West Asia. While the prospect of there being a measure of calm in the region is being welcomed by considerable sections of the international community, what is ‘on the table’ currently is only a Memorandum of Understanding between the US and Iran to give peace a chance. The hard part in the peace effort remains to be achieved.
In the Middle East of today we have one of the most complex conflicts to break out in modern international politics and the observer would be naive in the extreme to expect a facile and early closure to the tangle. Yet, for the sake of the world’s publics who have been hurting badly in the prolonged hostilities one could only hope that the US-Iran MoU that is expected to be signed by the sides on Friday would lead eventually to a substantive peace. The world’s thanks are due to Pakistan in this connection for its sustained support in the peace drive.
While the sides have agreed to a ceasing of hostilities in the most general terms and have reached accord on the facilitation of uninterrupted oil and gas supplies to the rest of the world, for instance, the ‘devil will prove to be in the details’ in an envisaged comprehensive peace settlement. It is these details that would make or break peace if the negotiations go on in earnest.
Nevertheless, the details would need to be worked out consensually in a spirit of compromise with an eye to the greater good of the world community. Realpolitik or a narrow focus on solely the national interest among the protagonists, for example, would need to give way to a measure of humanity that would encompass within it a consideration of the overall well being of the world. In other words, it is statesmanship that would crucially matter.
The next few weeks would establish whether humanists are ‘asking for far too much’ when they broach the questions at issue in these terms. Yet it is essentially self interest and national security considerations of the first importance that drove the conflict from even prior to February this year and these questions would need to be taken up and resolved to the satisfaction of the US and Iran in the main if some headway is to be made towards a durable settlement.
The nuclear issue would prove to be the proverbial Gordian Knot. From a realistic viewpoint, Iran could not be expected to be without a potential nuclear deterrent in the face of perceived nuclear threats emanating for it from the West and Israel. In the short term, Iran would need to possess this deterrent to a measure, within a mutually agreed international legal framework maybe, until wide agreement is reached on the nuclear tangle. Specifically, Iran’s immediate threat perceptions with regard to her nuclear-powered rivals would need to be defused during initial negotiations.
Ideally it is a world free of nuclear weapons that must be aimed at but since this goal cannot be achieved in the near or medium terms, unfolding negotiations would need to ensure Iran’s absolute security in a world of powers that continue to swear by the nuclear deterrent, if it is to give up the suspected latter capability.
However, it is to the degree to which the present nuclear powers divest themselves of this capability that Iran could be put at ease on this score. Accordingly, it is nothing short of a complete elimination of nuclear weapons from the world that could dissuade keenly security conscious states from developing nuclear weapons of their own with a mass destruction capability.
This is the number one dilemma the international community needs to grapple with going forward and it is to the extent to which it resolves it that a nuclear weapons free world could be envisaged. No doubt, an uphill challenge.
Compelling Israel to support the present negotiatory process constitutes another grueling challenge for the US. Currently the Iranian position essentially is that a Middle East peace is inseparable from a normalization of the security situation in Lebanon. That is, the present Israeli attacks on the Hezbollah presence in Lebanon must cease if a comprehensive peace is to be realized in West Asia.
However, Israel is showing no signs of drawing back from its attacks on Hezbollah strongholds in Lebanon since the security of the Israeli state is being seen as threatened by the militant group. Co-opting Israel into the negotiatory effort therefore would turn out to be a matter of paramount concern for the US.
Moreover, elements in the rightist administration in Israel are seeing the current peace efforts as a ‘sell out’ to the enemies of Israel. They would have none of it. It is left to be seen how the US would be managing these virtual storm centres in the diplomatic process that could very well bring down the overall purported peace drive.
A recent pronouncement by US Vice President J.D. Vance points to yet another problem area in the US’ current peace overtures. He said that, ‘Regional peace and stability includes stopping the funding of terrorist organizations.’ He was obviously referring to the support extended by Iran to Hezbollah when he mentioned ‘terrorist organizations’ but he has given fresh life to the age-old conundrum of ‘Who is a terrorist?’ by these words.
To the Netanyahu government the Hezbollah and other militant organizations fighting Israel are ‘terrorists’ but from the viewpoint of the Iranian regime they are ‘freedom fighters’. This seemingly insurmountable definitional issue would not only stubbornly bedevil the peace effort but could even figure in bringing about its collapse, unless judiciously handled.
Thus, it’s the thorny details that need to be watched to keep the West Asian peace process afloat, once it gets going in earnest. There is no doubt that US President Trump would be receiving a considerable amount of support from the G7 in this historic peace undertaking and his personal appeals to the grouping currently meeting in France for continuous support are likely to elicit a positive response from it.
Likewise, Trump would need to appeal to also the BRICS countries if almost total global support is to be garnered for the peace drive in West Asia. BRICS’ solidarity with the US and the West is likely to carry considerable weight with Iran and other Eastern actors who are key to a sustained peace drive in the Middle East.
Features
Sri Lanka’s elephant paradox: Govt. counts tourism dollars while playing a dangerous numbers game: Expert
At a time when Sri Lanka is enjoying a resurgence in wildlife tourism, with elephants remaining the undisputed stars of the country’s national parks and one of its most marketable natural assets, elephant conservationist Supun Lahiru Prakash has sounded a stark warning: the nation is in danger of losing the very species that helps attract millions of tourism dollars while sustaining some of the island’s most important ecosystems.
Supun says repeated claims by authorities that Sri Lanka’s elephant population is increasing, despite the absence of a final survey report and amid continuing elephant deaths, risk creating a misleading narrative that could undermine conservation efforts and encourage retaliation against elephants.
According to Supun, the issue is not merely about numbers. It is about political priorities, scientific credibility and the future of one of Sri Lanka’s most iconic species.
“Repeatedly claiming that the elephant population is increasing appears to be an attempt to hide the Government’s inability to manage the rising annual elephant death rate and the complications of human-elephant conflict,” Supun said.
For decades, the Sri Lankan elephant has been a symbol of the country’s rich natural heritage. It is the centrepiece of wildlife tourism, drawing visitors from across the globe to national parks such as Yala, Udawalawe, Minneriya, Kaudulla and Wilpattu. International wildlife documentaries, tourism campaigns and social media promotions frequently place elephants at the heart of Sri Lanka’s nature tourism brand.
Yet, according to Supun, the country’s conservation policies do not reflect the value of the species.
“On one hand, the Government is enjoying increasing tourism revenue, and elephants remain one of Sri Lanka’s most important wildlife attractions. On the other hand, narratives are being promoted that could encourage retaliation against the very species that contributes significantly to the country’s tourism industry,” Supun said.
According to the First Countrywide National Survey of Elephants conducted in 2011, Sri Lanka had 5,879 elephants. However, official statistics show that 4,167 elephants died between 2012 and 2024.
Supun stressed that these figures represent only the deaths officially recorded by the Department of Wildlife Conservation.
“In a context where more than 70 percent of the country’s elephant population reported in 2011 has died within 13 years, it is difficult to accept claims that the population has increased,” Supun said.
The conservationist pointed out that elephants have the longest gestation period among land mammals and that scientific studies have reported increasing interbirth intervals among female elephants together with high calf mortality.
“When such biological realities are taken into consideration, claims of a dramatic increase in elephant numbers become difficult to understand,” Supun said.
Supun believes that repeated references to increasing elephant populations risk fuelling public hostility towards elephants, particularly among farming communities already affected by crop raids and property damage.
“Such claims can create the impression that elephant populations are exploding and thereby promote retaliation against elephants as well,” Supun said.
According to Supun, Sri Lanka’s elephant crisis cannot be understood solely through population estimates. The real issue lies in the country’s failure to address human-elephant conflict through long-term, science-based solutions.
Sri Lanka continues to record among the highest levels of human-elephant conflict in the world. Every year, hundreds of elephants and dozens of people lose their lives as competition for land and resources intensifies.
Despite the scale of the crisis, Supun says authorities continue to rely on strategies that have repeatedly failed.

Lahiru Prakash
These include driving elephants into protected areas, strengthening electric fences to confine them there and allocating additional manpower to maintain fencing systems.
Supun was also critical of several proposals that emerged from district-level discussions on conflict mitigation, including the sowing of paddy and corn using Air Force drones and the planting of fruit orchards within protected areas.
“Such proposals fail to address the real ecological and social dimensions of the conflict,” Supun said.
While welcoming reports that the Government intends appointing a national-level mechanism to tackle human-elephant conflict, Supun said the challenge required intervention at the highest level of government.
“Given the gravity, complexity and geographical spread of human-elephant conflict, appointing any committee other than a Presidential Task Force is not useful,” Supun said.
He argued that a Presidential Task Force chaired by either the President or the Secretary to the President would be better positioned to overcome the bureaucratic delays and institutional fragmentation that have hindered previous efforts.
Supun also stressed the urgent need to restore and protect elephant corridors and home ranges that allow elephants to move safely across landscapes.
He cited the Koholankala elephant corridor in Hambantota as one example where removing obstacles could help reduce conflict while improving habitat connectivity.
At the same time, Supun questioned policies that permit the allocation of forest lands in areas identified by environmental assessments as crucial elephant ranges and movement corridors.
“The opening of elephant corridors and the protection of elephant home ranges must be carried out scientifically and consistently if they are to succeed,” Supun said.
Beyond tourism, Supun emphasised the ecological importance of elephants.
“Elephants are ecosystem engineers. Through their feeding habits and movements, they help maintain habitats that support numerous other species. In many ways, they create safer and healthier environments for wildlife,” Supun said.
According to Supun, protecting elephants means protecting entire ecosystems and the biodiversity upon which Sri Lanka’s wildlife tourism industry depends.
“By protecting elephants, we are also protecting the biodiversity that makes Sri Lanka one of the world’s premier wildlife tourism destinations,” Supun said.
As Sri Lanka seeks to expand tourism earnings and strengthen its reputation as a wildlife destination, Supun believes the country faces a defining choice: continue with policies that have failed to stem elephant deaths and human-elephant conflict, or embrace a science-based conservation strategy that safeguards both people and wildlife.
Without a fundamental shift in policy and political will, Supun warned, Sri Lanka risks losing not only one of its most iconic species but also the ecological and economic benefits that elephants continue to provide.
“The suffering of both farmers and elephants will only intensify unless meaningful action replaces rhetoric,” Supun said.
By Ifham Nizam
Features
Top Model of the World 2026
Back-to-back victory for Colombia
Katherine Castaño of Colombia claimed the Top Model of the World 2026 crown, securing a historic back-to-back victory for her country. Angelica Sanchez of Puerto Rico was named first runner-up, and Eunice Deza of the Philippines finished as second runner-up.
Katherine was crowned by outgoing titleholder Natalia Garizabal Vera of Colombia.
Several special category awards, and subsidiary titles, were also presented during the Top Model of the World 2026 pageant.
These awards recognised excellence in modelling, peer support, and regional representation.
Primary Subsidiary Titles

Sri Lanka’s Netalie Withanage: Top 16 at
the grand finale
Miss Globe 2026: Valentina Tabares (Ecuador) — Awarded to the contestant who perfectly balances fashion modelling with traditional beauty queen qualities.
Queen of Europe 2026: Mia Danielle Williams (United Kingdom) — Given to the highest-ranking candidate from a European nation.
Special Awards Recognition
Audience Iconic Award: Charly (Dominican Republic) — Won via the official public online vote, granting her a fast-track direct entry into the Top 6.
Exotic Model of the World: Angel Emeka (Nigeria) — Awarded for exceptional editorial presence and strong runway performance.
Best Body Award: Thailand — Voted directly by fellow contestants at the Flow Spectrum Hotel. The highest-ranking runners-up for this category included Zambia, South Africa, Colombia, and Ghana.

Angelica Sanchez (Puerto Rico): 1st Runner-up
Final Placement
Winner: Katherine Castaño (Colombia)
1st Runner-Up: Angelica Sanchez (Puerto Rico)
2nd Runner-Up: Eunice Deza (Philippines)
Top 6 Finalists: Included contestants from the Dominican Republic, Romania, and Germany.
The pageant, known for focusing on professional modelling careers over just beauty, brought together 36 models from around the globe for two weeks of runway, photoshoots, and cultural events.
Sri Lanka’s Netalie Withanage walked among 36 of the world’s best and powered her way into the Top 16 at the grand finale.
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