News
We couldn’t continue because we had no deal with IMF – Harsha
No pressure to settle swap facility from India – CBSL
The Central bank of Sri Lanka (CBSL) yesterday said that it had settled its Swap facility with Reserve Bank of India and there was no special request from India for a premature settlement.
“Such claims are erroneously reported by certain media outlets. There will be more discussions in the future and collaboration will continue,” CBSL said in a press release.
Meanwhile, Samagi Jana Balawegaya (SJB) MP Harsha de Silva said that the country’s foreign reserves were falling dramatically and the rupee was under severe pressure as Colombo was not able to extend the repayment of the facility to November 2022.
Dr. Silva said that usually a country did not end a Swap after the first rollover. However, the continuation of a rollover was only possible if Sri Lanka had reached an agreement with the IMF for assistance on expanding the reserves.
“So, no IMF agreement means there is no renewal. This also means that we can’t access the additional USD 1,000m SWAP either. Our reserves are falling and the rupee is under severe pressure,” Silva said.
Reserve Bank of India (RBI) had signed an agreement for extending a $400-million currency swap facility to Sri Lanka in July 2020 to boost the foreign reserves and ensure financial stability of the country, he said.
The Indian Express
said: “The Indian High Commission in Colombo said the currency swap arrangement will remain available till November 2022. Sri Lanka in April said it was set to enter into an agreement with the RBI for a currency swap worth $400 million under the South Asian Association for Regional Cooperation (SAARC) framework. Sri Lankan President Gotabaya Rajapaksa had made an additional request to India for a special $1.1 billion currency swap facility in May.
“Reserve Bank of India signs document for $400 million currency swap facility to Sri Lanka till Nov 2022,” the Indian Mission tweeted. “After debt repayment rescheduling discussions yesterday, this development is another example of India’s strong commitment to work with #lka in post #COVID19SL economic recovery,” it said.”
Latest News
Sun directly overhead Beruwala, Gurulubadda, Rakwana, Godakawela, Udawalawe and Thanamalwila at about 12:13 noon today (06)
On the apparent northward relative motion of the sun, it is going to be directly over the latitudes of Sri Lanka during 05th to 15th of April in this year.
The nearest areas of Sri Lanka over which the sun is overhead today (06th) are Beruwala, Gurulubadda, Rakwana, Godakawela, Udawalawe and Thanamalwila at about 12:13 noon.
Latest News
Heat Index at Caution Level in the Western, Sabaragamuwa, Southern, Eastern, North-western, Northern and North-central provinces and in Monaragala district
Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre
Issued at 3.30 p.m. on 05 April 2026, valid for 06 April 2026.
The Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in the Western, Sabaragamuwa, Southern, Eastern, North-western, Northern and North-central provinces and in Monaragala district.
The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.

Effect of the heat index on human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.
ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.
Dress: Wear lightweight and white or light-colored clothing.
Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.
News
West Asian conflict benefits China-managed H’tota Port
The ongoing West Asia war, triggered by joint Israel-US attack on Iran on 28 Februar, has benefited the China-run Hambantota International Port (HIP).With Iran imposing restrictions on the Strait of Hormuz shipping, in retaliation for unprovoked attack, thereby choking vital shipping routes, particularly for crude oil and refined oil products, HIP situated, along the East-West shipping corridor, has received the anticipated attention.
Soon after the sinking of an unarmed Iranian frigate, just outside Sri Lanka’s territorial waters, in India’s backyard, Indian External Affairs Minister Subrahmanyam Jaishankar categorised HIP as a foreign military base, along with Diego Garcia, Bahrain and Djibouti, where both the US and China maintained major bases.
HIP, in a press release issued on Sunday (05), declared that the Port has significantly expanded its operational capacity, in response to a sharp surge in global shipping volumes, resulting from the West Asia conflict.
The company asserted that the developing situation reinforced its position as a key alternative hub along the East–West shipping corridor.
The port has doubled its Roll-on/Roll-off (RoRo) yard capacity and increased its container yard capacity by 30%, as shipping lines divert operations away from disrupted routes in search of stable and efficient alternatives.
HIP is situated just 10 nautical miles from the main East–West shipping route, allowing vessels to divert with minimal deviation while maintaining schedule integrity.
The Chinese government-owned China Merchant Port Holdings (CMPort) under controversial circumstances acquired controlling interests of the Hambantota port in 2017 during the Yahapalanaya administration. Although the Sri Lankan government repeatedly said that Sri Lanka was paid USD 1.12 bn according to the HIP website CMPort invested $974 mn in the HIP and held 85 percent of the shares.
The 2017 agreement granted CMPort a 99-year lease to develop, manage and operate the Port area. The Supreme Court dismissed a fundamental rights petition filed by lawmaker Vasudeva Nanayakkara pointing out that the original agreements pertaining to the Hambantota port had been signed in 2012 and 2013 during Mahinda Rajapaksa’s tenure as the president when he was a member of the Rajapaksa Cabinet.
The HIP press release quoted CEO of HIP Wilson Qu as having said: “What we are witnessing today is a structural shift in global shipping patterns. At HIP, we have focused on building the capacity and operational agility to respond to such changes. Our ability to scale quickly, combined with our location, allows us to support global shipping lines when reliability becomes critical. Looking ahead, we will continue to invest in infrastructure and capabilities to strengthen Hambantota’s role as a key logistics and transshipment hub in the region.”
The rise in both vehicle transshipment and container volumes has driven yard utilization levels to the highest in HIP’s history, highlighting the scale of ongoing supply chain disruptions and the port’s growing strategic importance in global trade.
To accommodate increased throughput, HIP has rapidly expanded yard space across both cargo segments, enabling it to handle higher volumes while maintaining operational efficiency and minimizing congestion. Expanding capacity within a short time frame in a live port environment presents considerable operational and technical challenges and requires significant investment. However, through close coordination across management, engineering and operational teams, HIP was able to deliver these enhancements in step with rising demand.
The HIP statement added: “The expansion reflects Hambantota International Port’s continued development as a resilient logistics platform in the Indian Ocean, as geopolitical developments reshape established maritime routes and increase demand for alternative hubs. As infrastructure scales in tandem with demand, HIP is increasingly positioned to capture a larger share of regional transshipment volumes while supporting the continuity of global supply chains.”
Amidst the continuing uncertainty caused by war and growing threat to international shipping the Hambantota International Port Group (HIPG) the owning group of HIP recently finalised an agreement to invest USD 108 mn to procure new container handling equipment- six quay cranes, 16 rubber-tyred gantry cranes (RTGs) and 40 trailers, under the initial phase of the port’s Phase II container terminal development.
By Shamindra Ferdinando
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