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President: Those who try to dictate terms to IMF have Montessori-level knowledge
President Ranil Wickremesinghe told Parliament yesterday that Sri Lanka was set to come out of bankruptcy by securing of the second tranche of the International Monetary Fund’s (IMF’s) Extended Fund Facility.
“We will now focus on securing the foreign aid that was suspended after we declared bankruptcy,” the President said, making a special statement to Parliament to officially announce the IMF decision to grant the second tranche under the EFF.
He said that Sri Lanka still has a difficult journey ahead.
“We have travelled through a suspension bridge and we have no choice but to continue our journey through this bridge,” he said, stressing that Sri Lanka has no choice but to work with the IMF.
“We have managed to strike a deal with most of our debtors for restructuring of debts. However, we are faced with the task of securing a deal with our private debtors who are mainly bond holders,” he said.
President Wickremesinghe said that the conditions imposed by the IMF on Sri Lanka, can only be removed by continuing along the same path and strengthening the country’s economy.
He expressed optimism that the IMF now admits that Sri Lanka has taken decisive steps to overcome the state of bankruptcy.
“Now they [IMF] admit that we have taken decisive steps to save ourselves from the label of a ‘bankrupt state’. I am humbled to be able to lead this proud journey”, the President mentioned.
“I took over a bankrupt country last year. No leader came forward to take over that bankrupt country. Everyone was afraid to accept this challenge. None of the heroes who are now addressing the Parliament had the courage to come forward. I accepted that challenge…”
“All I had was determination and dedication. Not a single MP representing my party was in the Parliament. But the majority of MPs supported me although they were also insulted and mocked. The people of the country also supported me. They faced various hardships and supported this journey”, he added.
The President said that he highlighted that the country’s inflation prevailed at 70% at the time he took over the country, but it has now been brought down to 1.5%.
“At the time the depreciation of the rupee had risen to 80%. The value of the rupee increased to Rs. 360 per dollar. Now it has stabilized at the level of Rs. 325 – Rs. 330 per dollar.”
Moreover, Wickremesinghe said: “We have no other path but this path. There are two main factors in this path – having access to IMF assistance and debt restructuring. We handled both those factors properly. So we have been able to obtain good results.”
Furthermore, he emphasized that with the approval of the second tranche from the IMF, the country will receive multiple advantages including USD 150 million from the World Bank for deposit insurance, which will make the financial sector tremendously strong.
“This makes the banking and financial sector 100% secure”, the President said.
“Foreign investors can invest in Sri Lanka without any doubt then. Our Letters of Credit are accepted at the international level again.”
The President also admitted that the government is aware that a certain group of the society has faced hardships as a result of imposing taxes including VAT, adding that the government had no other choice.
“Some parties question the purpose of a government to govern the country if it has to be subjected to the conditions of the IMF. They claim that they will impose conditions on the IMF once they come to power. These are just childish stories. Only the people who have ‘Montessori-level knowledge’ about the economy can tell such stories”, he added.
“Remember, we can get out of the IMF conditions only if we continue on this path and build a strong economy under these conditions”, the President said.
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Teacher recruitment examinations will be conducted in accordance with the relevant court decisions – PM
Prime Minister Dr. Harini Amarasuriya stated that the forthcoming two teacher recruitment examinations will be conducted in accordance with the relevant court decisions pertaining to the ongoing legal proceedings and further noted that, taking into consideration the requests received, steps have been taken to make a request to Court’s approval to revise the conditions of the effective date of degree completion.
The Prime Minister made these remarks while addressing a meeting held at Monaragala Royal College to brief education authorities of the Monaragala District on the new education reforms.
Under the new education reforms, Smart Boards will be provided to 132 schools in the Monaragala District as part of the program to equip secondary schools with modern technology. As a symbolic step under this initiative, Smart Boards were presented to 10 secondary schools under the Prime Minister’s patronage. This program is being implemented with the intervention of the Digital Task Force operating under the Prime Minister’s Office. It was also emphasized that a new digital policy, formulated with special attention to child protection, will be introduced in April.
As part of her visit to the Monaragala District on the 13 th of February, the Prime Minister observed the implementation of the new learning methodologies introduced for Grade One under the new education reforms. She visited Kumbukkana Sri Shanmugam Tamil Maha Vidyalaya and Maduruketiya Maha Vidyalaya in Monaragala to observe the educational activities of Grade One students.
Considering the increase of student numbers and the development of infrastructure facilities, the Prime Minister also approved a proposal submitted by the School Development Society to rename Maduruketiya Maha Vidyalaya as Monaragala Dharmaraja Maha Vidyalaya.
Teachers briefed the Prime Minister that the new education system, supported by revised workbooks and activity-based learning methods, has proven to be effective, with students participating enthusiastically.
Addressing education officials further at the meeting held at Monaragala Royal College, the Prime Minister stated:
“Although this will not provide a complete solution to the existing teacher vacancies, these examinations can offer considerable relief. According to the Court’s previous determination, the effective date of degree completion had been set as 30.06.2025. However, considering numerous requests and following the cabinet approval we have sought Court’s consent to revise this date. We will act in accordance with the decision granted.
Funds allocated for school infrastructure must be utilized transparently and in line with proper planning, and progress must be reported accordingly. We cannot move forward by dividing ourselves along national, provincial, rural, or urban lines. As education authorities, you must make swift and accurate decisions based on correct data.
Further, discussions are already underway within the Piriven Committee of the Ministry of Education to develop Piriven education and to address the issues faced by Piriven teachers.”
The event was attended by the members of the Maha Sangha, Uva Province Governor Attorney-at-Law Kapila Jayasekara, Deputy Minister of Trade and Commerce R.M. Jayawardhana, Member of Parliament Ajith Agalakada, Uva Provincial Education Secretary Nihal Gunarathne, and several officials from the education sector.



[Prime Minister’s Media Division]
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Low-pressure area is likely to form over the southeastern Bay of Bengal around 15th February
Special Weather Bulletin issued by the Natural Hazards Early Warning Centre of the Department of Meteorology
Issued at 10.30 a.m. on 13 February 2026
A low-pressure area is likely to form over the southeastern Bay of Bengal around 15th February.
The general public are requested to be attentive to the future forecasts and bulletins issued by the Department of Meteorology in this regard
News
Sajith points to irregularities in coal procurement deals
Opposition and Samagi Jana Balawegaya (SJB) Leader Sajith Premadasa has claimed that all five coal shipments, imported recently for the Lakvijaya Coal Power Plant, in Norochcholai, were of substandard quality.
The remarks were made on Thursday during a meeting of the Sectoral Oversight Committee on Infrastructure and Strategic Development at the Parliament complex, which summoned senior officials from the Ceylon Electricity Board (CEB), the Public Utilities Commission of Sri Lanka (PUCSL), and the Lanka Coal Company to discuss the controversial coal imports.
Premadasa raised concerns over the tender process, highlighting a lack of transparency and deviations from the original procurement plan for the country’s key 900-megawatt power plant. He noted that although the order for 2,500 tonnes of coal was issued in April, deliveries were delayed due to the May monsoon season.
The Opposition Leader criticised the shortened tender timeline, which was reduced from the standard 42 days to just 21, and demanded that reports approving the tender, technical instructions, and conditions for both previous and current coal tenders be submitted to Parliament.
Premadasa also questioned the qualifications and experience of the suppliers selected by the government, asking whether responsibility for the nation’s primary electricity production had been entrusted to an unsuitable company.
He also emphasised the coal specifications, stating that the net NCP value should be 5,900 and requested reports if the supplied coal failed to meet that standard. Premadasa asked whether coal had been added to boilers before test results were received, whether samples had been sent to India for testing, and requested the corresponding reports.
In addition, he sought clarity on potential financial losses exceeding one million rupees, reductions in the annual coal requirement due to extra coal burning, and any boiler damage caused by substandard coal.
The Opposition Leader called for a full investigation into the tender process, including a forensic audit, noting that prior questioning through the Sectoral Oversight Committee had already highlighted deficiencies in procurement procedures.
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