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MR blames economic crisis on Yahapalana leaders

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Mahinda Rajapaksa

SLPP leader Mahinda Rajapaksa yesterday (28) hit back at critics, claiming that a robust economy had been built under his presidency. He said the UNP-SLFP government which ruled the country during the 2015-2019 period should be held responsible for the current economic crisis.

The following is the text of a statement, titled ‘the origins of Sri Lanka’s economic crisis’ issued by former President Rajapaksa: “A heated discussion is now taking place about those responsible for the present economic crisis. The Central Bank reports will show that during my nine years as President, economic growth averaged 6% a year during the four war years, from 2006 to 2009, and it increased to 6.8% in the five post-war years, from 2010 to 2014. Hence Sri Lanka’s per capita GDP increased threefold from USD 1,242, at the end of 2005, to USD 3,819 by the end of 2014. The contribution that my government made to Sri Lanka’s per capita GDP was well over twice that of all other post-independence governments, from 1948 to 2005, put together. Though the per capita GDP came down to USD 3,474 in 2022 as the pandemic caused the economy to contract, that statement remains valid to this day.

The debt to GDP ratio was a very healthy 69% at the end of 2014 having being brought down from 90% at the end of 2005. The All Share Price Index rose from 1,922, at the end of 2005, to 7,299 by the end of 2014. This economic boom was achieved despite the war, the global food crisis of 2007, the global financial crisis of 2008-2009 and the highest crude oil prices in world history. Crude oil cost an average of USD 74 per barrel throughout the entire period from 2006 to 2009 and an average of USD 103 from 2010 to 2014. The IMF Country Report No. 14/285 of September 2014 stated firstly that Sri Lanka’s “Macroeconomic performance has generally exceeded expectations”. Secondly that “Sri Lanka has made notable advances in recent years, and appears to be on its way to joining the ranks of upper middle income countries”. Thirdly that “Sri Lanka’s economic growth has been among the fastest in Asia’s frontier and developing economies in recent years”.

Hence the fact that I left behind a very robust economy in January 2015 is well documented. After I was voted out, the economic growth rate dropped to 4.2% in 2015 and ended up in the negative range at 0.2% below zero by 2019. Sri Lanka’s total outstanding external debt had increased by nearly 28% from USD 42,914 million at the end of 2014, to USD 54,811 million by the end of 2019. The debt to GDP ratio which had been brought down to 69% by the end of 2014, had increased to nearly 82% by the end of 2019. The All Share Price Index declined from 7,299 at the end of 2014 to 5,990 by the end of October 2019. Yet during the entire five-year period from 2015 to 2019 the average price of crude oil was USD 60 per barrel – the lowest in recent history.

There were no external reasons for Sri Lanka’s economic decline between 2015 and 2019. India and Bangladesh experienced average growth rates in excess of 7% and the Maldives over 6% during this period. Even developed countries like the USA and Germany experienced robust economic performance during those years. However, Sri Lanka’s average growth rate between 2015 and 2019 was just 3.5%, equal to the growth rate recorded in 2021 at the height of the pandemic. The accumulation of foreign commercial debt between 2015 and 2019 particularly in the form of International Sovereign Bonds (ISBs) was by far the worst disaster to befall us during that period.

When I was defeated in January 2015, outstanding ISBs amounted to USD 5,000 million and it was amply covered by our foreign reserves of USD 8,208 million. However, between 2015 and 2019 outstanding ISBs increased threefold to USD 15,050 with borrowings of USD 2,150 million in 2015, USD 1,500 million in 2016, USD 1,500 million in 2017, 2,500 million USD in 2018 and USD 4,400 million in 2019. Of this, USD 2,000 million was used to rollover ISB’s taken during my tenure, thus the total amount in new ISB’s issued between 2015 and 2019 is USD 10,050 million. Despite the build-up of the stock of outstanding ISBs to USD 15,050, Sri Lanka’s total foreign reserves was just USD 7,642 million at the end of 2019.

Thus, when I became Prime Minister again in November 2019, our government inherited an economy that was already on its last legs. It was in this weak and vulnerable situation that the Covid-19 pandemic hit Sri Lanka in early 2020 – the consequences of which needs further discussion. In any discussion of the economy, it is vital to note that the per capita GDP is the most fundamental economic indicator used to judge the economic situation of a country and the contribution of my 2006-2014 government to increasing Sri Lanka’s per capita GDP is more than double that of all other post- independence governments put together. The people of this country should base their decisions on proper data and facts and not on noise, lies and propaganda. Sri Lanka cannot afford another political mistake like that of January 2015. “



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India A beat Sri Lanka A by 8 runs in thriller

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Sahan Arachchige played a crucial knock for Sri Lanka A

India A beat Sri Lanka A by eight runs in the first match of the tri series being played at Dambulla.

Batting first India A powered by almost a run a ball  century by Rutraj Gaikwad [101 off 114 balls] and a half ton from Tilak Varma [60] posted 277/6. Mohammed Shiraz captured 2 wickets including the wicket of India’s 15 year old batting sensation Vaibhav Sooriyawanshi who was caught by Sahan Arachchige for 14.

In the chase Sri Lanka were in the hunt with 40 plus scores from Niroshan Dikwella, Avishka Fernando and  Saddera Samarawickrema and a 72 ball 74 from Shan Arachchige but lost the momentum after Arachchige fell with the score on 262. Sri Lanka A fall short by 8 runs losing their last three wickets for the addition of seven runs !

SCORES:
INDIA A 277/6 in 50 overs [Priyansh Arya 32, Rutraj Gaikwad 101, Tilak Varma 60; Mohamed Shiraz 2-67] beat SRI LANKA A 269 in 48.5 overs [Niroshan Dickwella 47, Avishka Fernando 45, Sadeera Samarawickrama 46, Sahan Arachchige 74; Arshad Khan 2-24, Anukul Roy 2-49, Ayush Badoni 2-46, Vipraj Nigam 2-46] by 8 runs

Vaibhav Sooryavanshi in action on India A debut [SLC]

Mohamed Shiraz celebrates the wicket of Vaibhav Sooryavanshi [SLC]

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Food Policy and Security Committee meets

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A meeting of the Food Policy and Security Committee was held on Monday (08) afternoon  at the Presidential Secretariat under the co-chairmanship of Minister of Agriculture, Livestock, Land and Irrigation, Lal Kantha and Minister of Trade, Commerce, Food Security and Cooperative Development, Wasantha Samarasinghe.

The meeting extensively discussed the measures that should be taken and the preparedness required to mitigate any potential impacts on Sri Lanka arising from the anticipated global El Niño phenomenon.

Particular attention was given to the possible effects of El Niño on the agricultural sector. Discussions also focused on the need to ensure adequate water storage in reservoirs for the forthcoming Yala season and to safeguard drinking water supplies. Minister Wasantha Samarasinghe instructed officials to obtain the views and recommendations of the relevant institutions on these matters.

It was further decided to convene a special meeting of the Food Policy and Security Committee in the near future to continue discussions on the issue. Relevant line agencies, including the Ministry of Agriculture, the Department of Agriculture, the Mahaweli Authority and the Department of Irrigation, were instructed to prepare and submit comprehensive plans outlining measures to address the potential impacts of the El Niño phenomenon.

The Ministers noted that, just as the country had successfully managed challenges arising from Cyclone Ditwah and the conflict situation in the Middle East, plans were already in place to effectively manage this potential global challenge. They emphasised that the Government was giving special attention to the matter.

Minister Wasantha Samarasinghe further pointed out that natural disasters cannot be predicted with certainty and stressed the importance of developing contingency plans in advance to respond effectively to any eventuality.

Among those present were Senior Additional Secretary to the President Kapila Janaka Bandara, Secretary to the Ministry of Public Administration, Provincial Councils and Local Government, S. Aloka Bandara, Secretary to the Ministry of Health and Mass Media, Dr. Anil Jasinghe, Director General of Health Services Dr. Asela Gunawardena, Acting Director General of the Department of Meteorology, A. L. K. Wijemannage, Director General of the Department of Agriculture W. A. R. T. Wickramarachchi and other members of the Food Policy and Security Committee.

President’s Media Division (PMD)

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PM launches the first phase of the National Education Management Information System

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Prime Minister and Minister of Education, Higher Education and Vocational Education, Dr. Harini Amarasuriya, stated that as a government committed to ensuring the future of the nation’s children, it is essential to establish an education system in which every child can equally experience quality education. The Prime Minister emphasized that decisions must be made based on accurate data, sound policies, and technological evidence in order to achieve this goal.

The Prime Minister made these remarks while attending the official launch of the first phase of the Human Resources Module of the National Education Management Information System (NEMIS) and the pilot project of the e-Thaksalawa Learning Management System (LMS), held at Temple Trees on Saturday [6th of June 2026].

The National Education Management Information System has been developed to enhance the efficiency and effectiveness of human resource management and administration, which are among the five key pillars of the ongoing education reforms.

Previously, each province operated its own independent information systems, and through this new platform, it is expected to manage all information relating to both national and provincial schools under a single integrated system. Accordingly, the first phase, the Human Resources Module, was officially launched. Under this initial module, teacher transfers in the provinces of Sabaragamuwa, Western, Southern, and North Western will be managed through the system, with plans to expand it island-wide in due course.

The remaining modules to be introduced in the future are designed to facilitate comprehensive human resource management for all academic staff in schools.

This initiative has been implemented through the collaborative efforts of the Prime Minister’s Office, the Ministry of Education, Higher Education and Vocational Education, the Ministry of Digital Economy, the Task Force on Digital Transformation in Education, provincial and zonal education authorities, technical teams, and the Sri Lanka Air Force.

Simultaneously, the pilot project of the e-Thaksalawa Learning Management System (LMS) was also launched, aiming to expand digital learning opportunities and enhance the teaching, learning, and assessment processes for students.

Addressing the occasion, Prime Minister Dr. Harini Amarasuriya stated:

“Instead of allowing different sectors of the education system to function in isolation, we are integrating educational administration, the delivery of education, and educational content into a one framework. What we have embarked upon is by no means a minor undertaking.

Digitalisation is importance to our government. We must evolve and move forward with rapidly changing world. We believe that digitalisation is essential in order to deliver the public services more efficiently and transparently. In particular, the education reforms we will implement in the future require accurate data. Through the National Education Management Information System, we will be able to obtain reliable data while ensuring transparency and quality in education.

All national schools will be incorporated into this system in the near future. Teacher data from several provincial schools have already been entered. Through this platform, we expect to manage teacher recruitment, transfers, promotions, and other services related to the education sector in a transparent and efficient manner.

When digitalising public services, we must also nurture citizens with the knowledge and skills to use them. The primary responsibility for this lies with the education sector. That is why we have planned to build human capital through the e-Thaksalawa Learning Management System.

Digitalisation is not a substitute for teachers. Education is fundamentally based on human relationship. No matter how much technology is available in classrooms, learning does not happen automatically. It is the teacher who engages directly with students. Therefore, digital technology should serve as a tool that empowers teachers and further enhances their importance.

By using digitalisation, we intend to address key challenges such as providing high-quality education to under-resourced schools, ensuring that every school benefits from the expertise of capable teachers, and creating educational opportunities for children with special needs. Our vision is to use digitalisation to nurture humane, enlightened citizens who are prepared for the future.

During the event, commemorative plaques were presented by the Prime Minister to officials representing the Sabaragamuwa, Eastern, and Uva Provinces, as well as to officers of the Sri Lanka Air Force, in recognition of their contribution to the development of the first phase of the National Education Management Information System.

The occasion was attended by the Deputy Minister of Digital Economy Eranga Weeraratne, Secretary to the Prime Minister Pradeep Saputhanthri, Secretary to the Ministry of Education, Higher Education and Vocational Education Nalaka Kaluwewa, and Secretary to the Ministry of Digital Economy Waruna Sri Dhanapala, and Chief Secretaries of Provincial Councils, the Commander of the Sri Lanka Air Force, Provincial Secretaries of Education, provincial education authorities, senior officials representing the Prime Minister’s Office, the Ministry of Digital Economy and the Ministry of Education, as well as members of the Task Force on the Digital Transformation of Education and senior officers of the Sri Lanka Air Force.

 

[Prime Minister’s Media Division]

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