News
SL hopes for productive talks at IMF WB spring meetings
Sri Lanka is looking forward to making progress in ending the ongoing debt restructuring negotiations at the IMF and the World Bank’s spring meetings, scheduled to begin from Monday, in Washington, PTI has reported.
Shehan Semasinghe, the State Minister for fFnance, will lead the government delegation, along with Central Bank Governor Nandalal Weerasinghe, and Treasury Secretary Mahinda Siriwardena.
“Through partnership and collective efforts, Sri Lanka would be able to achieve enhanced growth,” Semasinghe said, adding that the talks would be important in securing the next tranche of the USD 2.9 billion International Monetary Fund bailout.
Semasinghe said the funds would benefit low-income families with the extended relief programme ‘Aswesuma’.
Over 182,000 such families will be credited their cash handouts by the end of this week.
Sri Lanka aimed to strike debt restructuring deals with private creditors and sovereign bondholders by June to meet the IMF bailout programme targets.
“We expect fruitful engagements that will pave the way for unlocking the next tranche of essential funding and a speedy debt resolution which will enhance economic stability, confidence, sustainable growth, restore debt sustainability and ultimately, improve the welfare of every Sri Lankan citizen,” Semasinghe said in a post on X.
The IMF and World Bank meetings will take place in the background of both the World Bank and the ADB warned last week that detailing all hard economic reforms in the election year could hamper the recovery.
It’s been two years since Sri Lanka declared its first-ever default on sovereign debt. The negotiations for debt restructuring continue.
Sri Lanka goes for a presidential election in the last quarter of this year, while the parliamentary election is due mid-next year, PTI has said.
However, political uncertainty prevails in the country as opposition parties have pledged to reverse the current IMF-linked reforms, which have proved unpopular with the masses.
President Ranil Wickremesinghe, who has steered the recovery programme by going into a bailout deal with the IMF for a USD 2.9 billion facility, maintains that the island could once again face economic collapse if the IMF programme reforms are not adhered to.
Prime Minister Dr. Harini Amarasuriya participated in a high-level dialogue titled “Tourism as Soft Power and Diplomatic Capital” held at the Euronews Hub, Piz Buin Davos, on the sidelines of the World Economic Forum on January 20.
The session explored how tourism functions as a strategic instrument of diplomacy by strengthening international trust, cultural exchange, and regional cooperation through mobility and people-to-people engagement. The Prime Minister shared the panel with Mr. Kuban Omiraliyev, Secretary General of the Organization of Turkic States and Mr. Meshari Alnahar – CEO Aseer Investment Company, Saudi Arabia.
Addressing global trends, the Prime Minister emphasized that Sri Lanka is an example of hope, recovery and resilience in a world of conflict demonstrating how tourism can play a critical role in a changing global environment particularly amid climate shocks, geopolitical instability, and uneven economic recovery. She noted that tourism is not only an economic sector but also a vital diplomatic bridge that supports livelihoods, builds relationships and connects people.
Drawing on Sri Lanka’s recent experience, she highlighted the country’s strong tourism recovery despite multiple crises, including the impact of Cyclone Ditwah. Transparent crisis management and strategic engagement with international partners helped sustain visitor confidence, resulting in record tourist arrivals even in challenging circumstances.
The Prime Minister also underscored the importance of green and climate friendly tourism infrastructure and underlined that Sri Lanka welcomes long term investment in tourism. She pointed out that tourism supports millions of jobs worldwide and that inclusive policies are essential to ensure fair opportunities, particularly for women and vulnerable communities.
[Prime Minister’s Media Division]
During an operation conducted in the dark hours of 20 Jan 26, the Sri Lanka Navy seized two (02) Indian fishing boats and apprehended seven (07) Indian fishermen while they were poaching in Sri Lankan waters, off Kovilan, Jaffna.
The seized boats and Indian fishermen was to be handed over to the Fisheries Inspector of Myliddy, Jaffna for onward legal proceedings.
Prime Minister Dr. Harini Amarasuriya participated in a series of high-level bilateral meetings on January 20 on the sidelines of the 56th Annual Meeting of the World Economic Forum in Davos-Klosters, Switzerland.
The Prime Minister attended a productive bilateral meeting with Mr. Jozef Síkela, European Commissioner for International Partnerships. During the discussion, both sides focused on strengthening Sri Lanka–EU cooperation and advancing mutual interests.
Prime Minister Amarasuriya also met with Mr. Masato Kanda, President and Chairperson of the Board of Directors of the Asian Development Bank (ADB), at the WEF Congress Centre. The meeting provided an opportunity to discuss ongoing engagement and future collaboration between Sri Lanka and the ADB.
In addition, the Prime Minister held discussions with Mr. Hassan El Houry, Chairman of Menzies Aviation, where opportunities for collaboration in aviation services and connectivity were explored.
The Prime Minister also participated in a high-level dialogue at the Global Tourism Forum held at the Euronews Hub, Piz Buin, Davos, as part of the World Economic Forum engagements.
Dr. Anil Jayantha, Minister of Labour, and the Deputy Minister of Finance were also present at these meetings.
[Prime Minister’s Media Division]
ICC board votes to replace Bangladesh if they don’t travel to India
Sri Lanka is an example of hope, recovery and resilience in a world of conflict – PM
Brook needs to ‘regain trust of players’ after New Zealand nightclub incident
Navy seizes 02 Indian fishing boats poaching in northern waters
Prime Minister participates in high-level bilateral meetings at World Economic Forum
Dushmantha Chameera, Dhananjaya de Silva return for England ODIs
‘Dates have the highest sugar content to fight Coronavirus’
Sunday Island 27 December – Headlines
#SundayIsland 17th December – Headlines
Sunday Island – 28th March
Sunday Island Headlines – 21 March
Sunday Island – 21st February – Headlines
-
Editorial4 days agoIllusory rule of law
-
News5 days agoUNDP’s assessment confirms widespread economic fallout from Cyclone Ditwah
-
Business7 days agoKoaloo.Fi and Stredge forge strategic partnership to offer businesses sustainable supply chain solutions
-
Editorial5 days agoCrime and cops
-
Features4 days agoDaydreams on a winter’s day
-
Editorial6 days agoThe Chakka Clash
-
Features4 days agoSurprise move of both the Minister and myself from Agriculture to Education
-
Features3 days agoExtended mind thesis:A Buddhist perspective