Author: Gayan Chandrasekara
Sri Lanka’s Economy Reaches Pre-Crisis Levels but Recovery Uneven, says World Bank Group
Sri Lanka’s economy reached a significant milestone, reaching pre-crisis levels. But the recovery remains incomplete and uneven, with household incomes and labor market outcomes still lagging the broader economic rebound, says the World Bank Group in its twice-yearly economic outlook. Released today, the latest Sri Lanka Development Update, From Recovery to Transformation, projects Sri Lanka’s […]
Sri Lanka’s Exports Surpass US$ 12 Bn in First Eight Months of 2026
Sri Lanka’s export sector has surpassed the US$ 12 Bn mark during the first eight months of 2026, with total exports reaching US$ 12.01 Bn, an increase of 4.26% compared with US$ 11.52 Bn recorded during the corresponding period of 2025. The growth reflects continued momentum in Sri Lanka’s export performance, with both merchandise and […]
Fitch Upgrades Sri Lanka to ‘B-‘ from ‘CCC+’; Outlook Stable
Fitch Ratings has upgraded Sri Lanka’s Long-Term Issuer Default Ratings (IDRs) to ‘B-’ from ‘CCC+’. The Outlook is Stable. The upgrade reflects the implementation of macro-stabilization policies, underpinned by structural reforms, which have eased external financing risks and provide a degree of resilience to shocks. This is reflected by sharp improvements in fiscal and external […]
Supreme Court Mandates Referendum for Strict Bail Restrictions Under Anti-Corruption Bill
In a major constitutional determination announced in Parliament today by Speaker Jagath Wickramaratne, the Supreme Court of Sri Lanka ruled that key provisions of the proposed Anti-Corruption (Amendment) Bill cannot become law without a two-thirds parliamentary majority and direct approval by the people at a public referendum. The Court’s ruling targets critical judicial, corporate governance, […]
Supreme Court Clears 22nd Amendment Without Referendum, Exempts Incumbent CJ from 6-Year Term Limit
The Supreme Court of Sri Lanka has determined that the proposed 22nd Amendment to the Constitution Bill and the Judicature Amendment Bill do not violate core constitutional provisions and can proceed to a vote in Parliament without requiring a public referendum, according to an official announcement by the Speaker of Parliament. The Supreme Court ruled […]
IMF Team to Visit Sri Lanka next week for EFF Seventh Review and Article IV Consultation
International Monetary Fund (IMF) Mission Chief for Sri Lanka, Evan Papageorgiou, announced on September 3, 2026, that an IMF staff team will visit Sri Lanka from September 10 to 23, 2026. During the visit, the team will hold discussions with Sri Lankan authorities regarding the combined Seventh Review of the country’s reform program supported by […]
Port City Expansion: Regulations for 68 Strategic Businesses Head to Parliament
The Cabinet of Ministers has approved a proposal presented by the President, in his capacity as the Minister of Finance, Planning, and Economic Development, to present to Parliament the regulations issued under the Colombo Port City Economic Commission Act, No. 11 of 2021. The cabinet decision, dated August 31, 2026, remains subject to confirmation at […]
Cabinet Approves Bilateral MoU Between Sri Lanka and China on Immigration Control Cooperation
The Cabinet of Ministers has granted approval to enter into a bilateral Memorandum of Understanding (MoU) on immigration control cooperation between the Department of Immigration and Emigration of Sri Lanka and the National Immigration Administration of the People’s Republic of China, subject to confirmation at the next cabinet meeting. The proposed agreement aims to establish […]
Sri Lanka Placed on Elevated Concern as Climate Shocks & Energy-Driven Cost Pressures Converge Ahead of Maha Season: FAO Report
Sri Lanka has been categorized under “Elevated Concern” (Tier 2) in a joint Asia-Pacific risk assessment published by UN agencies and global climate monitors. The classification comes as the island nation faces a dangerous convergence of intensifying climate anomalies and lingering global price shocks across fuel, fertilizer, and food systems (3FS). With the critical Second […]
Sri Lanka to Install 300,000 Smart Meters Under Time-of-Use Billing Project
Sri Lanka’s Cabinet has approved a two-year project to install 300,000 smart electricity meters equipped with a Time-of-Use (TOU) billing system as part of efforts to modernise the country’s electricity grid and support renewable energy development. The project will utilise US$12.5 million from a US$15 million loan facility provided through the Asian Development Bank’s concessional […]
Sri Lanka Revises Renewable Energy Feed-in Tariffs
Sri Lanka’s Public Utilities Commission has approved new feed-in tariffs for renewable energy power projects, effective August 25, 2026, and valid until February 24, 2027. The revised tariffs cover mini-hydro, wind, biomass, municipal waste, waste heat recovery, ground-mounted solar and floating solar projects. New rooftop solar tariffs range from Rs. 15.81 to Rs. 23.11 per […]
Cabinet Approves Publication and Parliamentary Submission of New ‘Protection of the State from Terrorism’ Bill
Sri Lanka’s Cabinet of Ministers has formally approved a proposal to publish the draft bill for the ‘Protection of the State from Terrorism Act’ in the Government Gazette and subsequently submit it to Parliament for legislative enactment. The decision, reached at the Cabinet meeting on August 17, 2026, remains subject to formal approval at the […]