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Sri Lanka’s ambassador urges ADB and World Bank to take bigger role in debt restructure

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Sri Lanka has not reached any initial agreement with the IMF on debt relief, and its largest creditors -the Asian Development Bank (ADB) and the World Bank – are urged to come up with a package that would speed up its debt restructuring process, Sri Lanka’s Ambassador to China Palitha Kohona told the Global Times in an exclusive interview.

He also called for more assistance from partners after the debt-ridden country claimed bankruptcy and imposed a state of emergency amid escalating protests and persisting shortage of daily necessities.

“The IMF visited Sri Lanka at the end of last month, and judging by the report we received, the official discussions were very satisfactory. We have appointed a team of legal advisors in London, and a team of experts who understand debt restructuring from the West,” Kohona said. But he noted that discussions with the IMF are only at a preliminary stage, and once the new government is installed, there will be a new arrangement for the next meeting with the IMF.

Kohona said it is hoped that terms and conditions attached to the IMF package will not be “onerous.”

“It’s inevitable that whenever the IMF comes along we will have to tighten our belt, but in some cases it’s difficult because the belt is already on the last notch. We’re worried that the IMF may insist that we curtail our state-funded health care system. The education system which is free from grade one to university level might be another area the IMF recommends to cut. These may add to the unrest,” Kohona explained.

Sri Lanka’s largest creditors are international financial organizations like the World Bank and the ADB, and a substantial amount is also owed to other institutional investors from the West, for example the Wall Street. While calling on those organizations to take a bigger role, Kohona also hopes more bilateral partners will provide more assistance to help the country overcome its difficulties.China and Japan each held about 10 percent of Sri Lankan debt. Kohona disclosed that about $1 billion, out of Sri Lanka’s $7 billion foreign debt obligations for this year, is due to China.

China’s Foreign Ministry spokesperson Wang Wenbin said at a press briefing on Friday that Chinese financial institutions have actively approached and negotiated with Sri Lanka after the country stopped debt repayment, expressing willingness to properly settle matured debts owed to China and help it overcome difficulties.

“China is ready to work with relevant countries and international financial institutions to continue to play a positive role in supporting Sri Lanka’s response to current difficulties and efforts to ease debt burden and realize sustainable development,” Wang said, adding that as a friend and neighbor, China has been providing assistance for its socioeconomic development to the best of our capacity.

Recently, China has announced a total of 500 million yuan ($74 million) emergency humanitarian aid to Sri Lanka. On Thursday, the second batch of emergency humanitarian grain aid – 1,000 tonnes of rice – from China was handed over to Sri Lanka.

There have been large-scale protests about the government because of the severe material and energy shortages that Sri Lanka is facing, Kohona noted. Sri Lanka faces a gap in cooking oil, fertilizer, medicine, and even food stocks, which poses a huge challenge to Sri Lankans’ basic household cooking, transportation, medical needs, and preparation for the upcoming cultivation season.

On Thursday, President Gotabaya Rajapaksa officially resigned after landing in Singapore, and Prime Minister Ranil Wickremesinghe was appointed as acting president. Wickremesinghe declared a state of emergency across the country.

Kohona noted there are still protests in Sri Lanka against Wickremesinghe, and he is not clear whether the acting president will continue to hold this office for much longer. “This is very unsatisfactory, because the leadership of the country suddenly comes into question. So we are hoping that the constitutional provisions will be followed, and elections have to be held within a specified period to elect a new president,” he said.

Sri Lanka’s parliament will vote on a new president on July 20, according to the speaker of the Sri Lankan Parliament.

Kohona said he is confident that “whatever government in power will maintain excellent relations with China.”

“China is the major trading partner and investor of Sri Lanka, we have a strategic partnership between the two countries, whoever takes over the government after an election will maintain the confidence of the Chinese government as well as the goodwill of the Chinese people,” he noted.

In recent years, Chinese-invested projects under the Belt and Road Initiative (BRI) such as the Hambantota Port have largely improved local people’s livelihood and propelled the country’s growth.

On Thursday, the Chinese Embassy in Sri Lanka held a video conference with Chinese firms in Sri Lanka, guiding them on how to strengthen security work and cope with demonstration and safety events. Kohona said there has been no threat to Chinese projects or Chinese personnel in Sri Lanka.

“BRI investments are critical in the Sri Lankan economy after the situation stabilizes. It not only brought foreign exchange, but also generated employment,” he said, adding that the embassy is encouraging a number of Chinese renewable energy companies to establish projects in Sri Lanka. (Courtesy The Global Times)



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Wednesdays declared a government holiday with effect from 18th March

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The Commissioner General of Essential Services, Prabath Chandrakeerthi has announced that, after taking into consideration the current fuel situation in Sri Lanka, the  Government has decided to declare Wednesdays of every week as a holiday for government sector employees, all government schools, universities, and courts with effect from March 18, 2026,  until further notice

The holiday will not apply to essential service sectors including Healthcare, Ports, Water Supply and Customs.

 

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PM declares open Angunukolapelessa Leisure Island

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Prime Minister Dr. Harini Amarasuriya stated that leisure had long been limited to only a privileged segment of society, and that the government’s objective is to create opportunities for all citizens to equally experience and enjoy that leisure.

The Prime Minister made these remarks on  Sunday (15th of March) while opening the multi-purpose development project associated with the Angunakolapelessa Tank, developed under the “Pohosath Gamak” programme of the Ministry of Rural Development, Social Security and Community Empowerment for the public.

In parallel with the multi-purpose development project carried out associating the Angunakolapelessa Leisure Island, a boating facility and the Leisure Island cafeteria were also officially opened.

Addressing the gathering the Prime Minister  stated:

“The multi-purpose development project associated with the Angunakolapelessa Tank has received voluntary support from the community of  more than 700 days.

With the funding from the Ministry of Rural Development, Social Security and Community Empowerment, the Angunakolapelessa Pradeshiya Sabha, together with the divisional councils, public safety committees, youth societies, trade associations, and many others in the community, was able to transform this site into a major development project within a remarkably short period of time.

This project serves as a powerful example of what can be achieved when people unite collectively for a noble purpose. Developing a country is not a task that the government alone can accomplish.

When intellectuals, religious leaders, youth, entrepreneurs, and the public come together with strong and responsible leadership, we can build a nation so resilient that no hostile force will be able to weaken it.

People in rural communities who live demanding and hardworking lives also deserve to enjoy. For a long time,  leisure was limited to only a privileged segment of society. As a government committed to fostering a dignified cultural life for all citizens, it is important to create more spaces like this where people can relax, walk, enjoy themselves, and spend time with peace of mind.

The occasion was graced by the presence of the members of the Maha Sangha, and attended by the Minister of Rural Development, Social Security and Community Empowerment Upali Pannilage, other ministers and parliamentarians, government officials, and local residents.


(Prime Minister’s Media Division)

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Navy’s successful high-seas bust nets over 133kg haul of heroin

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As a key frontline stakeholder in the national mission, ‘A Nation United,’ the Navy continues to conduct maritime operations in the waters surrounding the island, in coordination with other law enforcement agencies.

During a recent successful operation on the high seas south of Sri Lanka, the Navy intercepted a local multi-day fishing trawler and apprehended five suspects (05) in connection with the smuggling of a stock of suspected drugs.

During a special inspection at the Dickowita fisheries harbour today (16 Mar26), the Police Narcotic Bureau (PNB) confirmed the presence of over one hundred and thirty-three (133)
kilograms of heroin.

The Deputy Minister of Defence, Major General Aruna Jayasekara (Retd), accompanied by the Commander of the Navy, Vice Admiral Kanchana Banagoda, was present in Dickowita to inspect the seized items.

Addressing the media, the Deputy Minister stated that the tri-forces, particularly the Navy, along with the Coast Guard, Police, and other law enforcement agencies, are executing the
government’s vision for national security. He noted that the recent naval operation in the southern seas, which seized a large consignment of narcotics and weapons, demonstrates the government’s success in combating criminal networks involved in narcotics, arms and human trafficking.

He added that such successful outcomes result from the Navy’s meticulous planning, surveillance, intelligence analysis, and inter-agency coordination. He affirmed that no leniency will be shown to drug trafficking networks, and conveyed admiration, on behalf of the President, for the distinctive contribution made by the Sri Lanka Navy, in collaboration with other stakeholders,
towards ensuring public safety and protecting the younger generation from the menace of drugs.

Highlighting the scale of the Navy’s impact, he revealed that naval operations in 2025 seized narcotics valued over Rs. 75 billion, and operations so far in 2026 have seized over Rs. 20 billion worth of drugs.

The Deputy Minister warned that traffickers are increasingly using the guise of legitimate fishing activities to smuggle narcotics. Besides, he emphasized that the responsibility lies not only with law enforcement agencies but with all sectors of society to eradicate the networks associated with drug trafficking. He issued a firm directive to traffickers, dealers, and distributors to “quit,” asserting that there is no loophole, whether by sea or air, that the security forces cannot close. He
further urged drug users to abandon this destructive habit.

He announced plans for legal amendments to impose stricter penalties for drug offenses. Noting that law enforcement agencies have operational autonomy, he appealed to the public to report information on drug trafficking to hotlines 1818 and 1997.

He also commended the media for their responsible reporting in educating the public on the drug menace.

The trawler, the suspects, the communication equipment and the stock of narcotics held in this operation were handed over to the PNB for onward investigation and legal proceedings.

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