October 21, Colombo (LNW): The Department of Irrigation has urged residents in vulnerable areas to remain alert, as flood warnings remain in place for several river basins following days of persistent heavy rainfall across parts of the country.

The public, especially those living near rivers and reservoirs, have been advised to take precautionary measures as water levels continue to rise.

L.S. Sooriyabandara, Director of Hydrology and Disaster Management at the Department, stated that river systems such as the Maha Oya and Deduru Oya are currently experiencing high water volumes, raising concerns of possible flooding in adjacent low-lying regions. These alerts are expected to remain in effect until conditions begin to stabilise.

Among the areas most affected by the current weather conditions is Baddegama, which recorded the highest rainfall with 172 millimetres in a 24-hour period. The situation is particularly concerning in zones surrounding several key river basins, including the Kelani, Kalu, Gin, Attanagalu Oya, and Nilwala rivers. Ongoing rainfall in these catchment areas could lead to further complications if it persists.

Director Sooriyabandara also highlighted increased water inflows into the Kirindi Oya and Lunugamvehera reservoirs, noting that rising reservoir levels could further intensify the risk downstream, especially if additional rainfall necessitates water release.

Officials have advised local authorities to be on high alert and have urged the public to follow guidance issued by disaster management units and remain informed through official weather updates.

October 21, Colombo (LNW): Sri Lanka has formally launched a new investigative body to tackle illicit wealth and criminal enterprises, marking a major step in the government’s fight against organised crime, corruption, and drug trafficking.

The Proceeds of Crime Investigation Division (PCID) was inaugurated yesterday at the old Police Headquarters in Colombo, with top government and law enforcement officials in attendance.

Speaking at the opening ceremony, Public Security and Parliamentary Affairs Minister Ananda Wijepala emphasised that while legislation is important, real progress depends on swift and effective enforcement. “Laws alone do not bring change. The public must see justice being done—and being done without delay. That is when laws become deterrents,” he said.

The PCID has been established under the newly enacted Proceeds of Crime Act 2025, a sweeping piece of legislation designed to identify, freeze, and reclaim assets obtained through unlawful means. The Minister hailed the Act as a landmark in Sri Lankan legal history, describing it as a comprehensive tool that empowers authorities to act decisively against economic crimes.

Under the new law, authorities can initiate both criminal and civil proceedings against individuals and entities suspected of acquiring assets illegally. The PCID is authorised to cooperate with 34 government agencies in order to trace and recover such wealth. Moreover, it is empowered to accept complaints from the public, freeze suspicious assets for up to 30 days, and bring civil claims to recover unlawfully obtained property.

Senior DIG Asanga Karawita has been appointed as the Director General of the Division for a three-year term, with approval from the National Police Commission. A Deputy Director General has also been appointed to support the Division’s operations.

The Minister noted that although additional laws are being drafted—particularly those targeting organised crime, terrorism, and online safety—the existing framework already provides sufficient authority to act decisively. He stressed that illegal enrichment and the accumulation of wealth through criminal means can be intercepted even without new legislation, as long as the current laws are applied with determination.

Amendments to the Online Safety Act are also underway, being drafted by a multi-ministerial committee involving representatives from the Justice, Public Security, Mass Media, and Foreign Affairs ministries. The proposed changes are expected to be tabled in Parliament within the next two months.

Additionally, Minister Wijepala revealed that steps are being taken to review and ultimately replace the Prevention of Terrorism Act (PTA). A legal committee, led by the Attorney General’s Department, has been tasked with drafting new legislation that aligns with contemporary security challenges and international human rights standards.

Inspector General of Police Priyantha Weerasooriya, also speaking at the event, acknowledged that the current legal system has suffered due to a failure to enforce existing laws properly. He welcomed the creation of the PCID and the Proceeds of Crime Act, noting that police officers have now been granted greater legal authority than ever before—but urged them to wield that power responsibly and in the public interest.

He also noted that a Bill specifically targeting organised crime is being finalised for presentation in Parliament and stressed the need to close longstanding legal loopholes that have hindered enforcement efforts.

One key feature of the new Act is its retroactive application. The law enables action to be taken based on past audit reports, with the Auditor General granted expanded authority to forward findings directly to the Commission to Investigate Allegations of Bribery or Corruption (CIABOC).

October 21, Colombo (LNW): President Anura Kumara Dissanayake has called on the Federation of University Teachers’ Associations (FUTA) to develop a comprehensive strategy aimed at expediting the completion of undergraduate degree programmes without compromising academic standards.

The proposed plan is also expected to address the growing backlog of academic work and promote more robust research and development initiatives across the university sector.

The directive was issued during a meeting held at the Presidential Secretariat yesterday (20), where FUTA representatives raised concerns over persistent delays in completing degree courses and highlighted the challenges currently faced by academic staff in the public university system.

These delays, which have become more frequent in recent years, have been attributed to a range of administrative and systemic factors, including limited resources and disruptions to academic calendars.

Dissanayake assured the delegation that the Government stands ready to provide the necessary infrastructure, funding, and institutional support required to put such a plan into action. He emphasised the importance of delivering timely, high-quality education while also enhancing the nation’s capacity for research and innovation.

The discussion also turned to broader structural issues within the higher education sector, including the urgent need to attract and retain qualified academic staff. Both parties acknowledged that the quality of teaching and research is inextricably linked to the well-being and professional development of university academics.

Among those present at the meeting were Prime Minister and Minister of Education, Higher Education and Vocational Education Dr Harini Amarasuriya; Minister of Ports and Civil Aviation Anura Karunathilaka; and Labour Minister and Deputy Minister of Finance and Planning Dr Anil Jayantha Fernando. The FUTA delegation was led by Chairman Professor P.R. Weeratunga and Secretary Charudaththa Illangasinghe.

October 21, Colombo (LNW): Digital services provided by numerous state institutions in Sri Lanka have returned to normal following a technical failure that disrupted access for over a week.

According to the Information and Communication Technology Agency (ICTA), the issues affecting the Lanka Government Cloud (LGC) infrastructure have now been fully addressed, and all systems are functioning reliably.

The LGC, which forms the backbone of the government’s online operations, encountered a significant malfunction that led to interruptions across a wide range of digital platforms. As a result, citizens faced difficulties accessing various public services, including administrative, regulatory, and information portals.

The disruption impacted approximately 34 government departments and institutions, affecting services that are increasingly relied upon for day-to-day transactions.

A spokesperson for the ICTA confirmed today (21) that the necessary technical rectifications had been completed and that the cloud system’s stability had been verified. Measures have been implemented to prevent similar incidents in future, while affected services are being restored in stages to ensure consistency and performance.

Authorities acknowledged the inconvenience caused to the public and have assured that contingency plans are being developed to improve response times and system resilience.

October 21, Colombo (LNW): A newly released government gazette has officially redefined the responsibilities and areas of oversight for multiple ministries.

The changes, which come into immediate effect, were authorised by President Anura Kumara Dissanayake, reflecting the outcomes of a recent reshuffle within the Cabinet.

The updated distribution of duties among ministries is expected to address emerging national priorities, optimise coordination between departments, and align governmental operations with the administration’s evolving policy direction.

October 21, Colombo (LNW): The prevailing low-level atmospheric disturbance to the east of the island still persists, and it is likely to develop into a low pressure area within the next 24 hours, the Department of Meteorology said in its daily weather forecast today (21).

Under the influence of this system, cloudy skies are expected over most parts of the island.

Showers or thundershowers will occur at times in Western, Sabaragamuwa, Central, North-western, Southern and Northern provinces. Heavy falls above 100 mm are likely at some places in these areas.

Showers or thundershowers will occur elsewhere of the island after 1.00 p.m.

The general public is kindly requested to take adequate precautions to minimise damages caused by temporary localised strong winds and lightning during thundershowers.

Marine Weather:

Naval and fishing communities engaged in fishing and naval activities in the deep and shallow sea areas around the island are requested to be vigilant in this regard.

Condition of Rain:
Showers or thundershowers will occur at times in the sea areas off the coast extending from Kankasanthurai to Pottuvil via Mannar, Colombo, Galle and Hambanthota. Showers or thundershowers will occur at several places in other sea areas around the island during the afternoon or night.

Winds:
Winds will be south-westerly or variable in direction and speed will be (25-35) kmph. Wind speed can increase up to (55-60) kmph at times in the sea areas off the coast extending from Galle to Pottuvil via Matara and Hambantota. Wind speed can increase up to 50 kmph at times in the sea areas off the coast extending from Trincomalee to Galle via Kankasanthurai, Mannar and Colombo.

State of Sea:
The sea areas off the coast extending from Galle to Pottuvil via Matara and Hambantota will be rough at times. The sea areas off the coast extending from Trincomalee to Galle via Kankasanthurai, Mannar and Colombo will be fairly rough at times. The other sea areas around the island will be slight to moderate.

Temporarily strong gusty winds and very rough seas can be expected during thundershowers.

By Adolf 

Sri Lanka’s economic meltdown in 2022 did not happen overnight. It was the result of a series of decisions—short-sighted, politically expedient, and economically reckless—that left the country dangerously exposed to global capital markets. Chief among them was the Central Bank’s policy of aggressive commercial borrowing between 2015 and 2019, under successive administrations, and most significantly, during the tenure of Dr. Indrajith Coomaraswamy as Governor.

Between 2015 and 2019, Sri Lanka issued seven International Sovereign Bonds (ISBs) amounting to nearly USD 10 billion, at interest rates ranging between 5.5% and 8.9%. The timeline tells its own story:

• 27 Oct 2015 – USD 1.5 billion (10-year)

• 11 July 2016 – USD 500 million (~5.5-year)

• 18 July 2016 – USD 1 billion (10-year)

• 11 May 2017 – USD 1.5 billion (10-year)

• 18 April 2018 – USD 1.25 billion (10-year)

• 7 March 2019 – USD 2.4 billion (5-year + 10-year tranches)

• 24 June 2019 – USD 2 billion (5-year + 10-year tranches)

In less than five years, the country’s external commercial debt stock ballooned from USD 5 billion to over USD 15 billion, while the maturity profile shortened dangerously. In essence, Sri Lanka borrowed short-term, high-cost money to fund long-term fiscal gaps and recurrent expenditure.

These borrowings were often defended by the Central Bank as part of “liability management exercises” — a euphemism for rolling over maturing debt with fresh, more expensive loans. The claim was that refinancing would “smoothen the maturity profile.” In reality, it merely postponed the crisis, piling up obligations on future governments while doing little to strengthen reserves or expand export capacity.

By the time the bond spree ended in 2019, Sri Lanka’s external debt service obligations exceeded USD 4 billion per year, while annual export earnings hovered around USD 11 billion. This mismatch was unsustainable. The foreign reserves, which stood at USD 8.2 billion in 2014, fell to USD 7.6 billion by end-2019 — despite billions borrowed.

The real tragedy was that none of these funds were directed toward growth-enhancing investments. Instead, they were used to prop up the rupee, fund public sector salaries, and pay off older loans. The government’s failure to pursue fiscal reforms — especially broadening the tax base and curbing subsidies — meant the country was trapped in a vicious cycle of debt rollover.

Dr. Coomaraswamy, while respected for his professionalism, also conferred Deshamanaya by President Sirisena ,  presided over one of the most imprudent borrowing phases in post-independence history. His administration failed to challenge the Treasury’s excessive appetite for external debt, even when the macro fundamentals did not justify it. The result was a debt profile heavily tilted toward commercial borrowings, with over 50% of foreign debt in ISBs by 2019 — a level of exposure that would later prove fatal.

When the COVID-19 pandemic struck and global markets tightened, Sri Lanka’s access to refinancing vanished overnight. With no fallback reserves and no IMF arrangement in place, default was inevitable. The first missed ISB payment in April 2022 marked the country’s first-ever sovereign default since independence — a direct consequence of the 2015–2019 borrowing binge.

In hindsight, the Central Bank’s strategy under Indrajith and his successors was fundamentally flawed on three counts:

1. Overreliance on commercial debt: Instead of mobilising cheaper, long-term concessional financing from multilaterals and bilateral partners, Sri Lanka chose to rely on volatile capital markets.

2. Poor debt management coordination: The Central Bank and Treasury operated in silos, with little medium-term fiscal strategy to manage repayment risk.

3. Lack of accountability: Borrowings were presented as “routine” or “market-friendly,” without adequate parliamentary scrutiny or public disclosure of repayment implications.

The outcome was predictable. By 2020, nearly half of Sri Lanka’s external debt was owed to private creditors, leaving the country with little room to negotiate or restructure quickly. The steep depreciation of the rupee, soaring inflation, and collapse in investor confidence were all symptoms of the same underlying disease: fiscal indiscipline compounded by monetary complacency.

The painful lessons of this period must not be lost on policymakers. Sri Lanka cannot afford to repeat the mistakes of 2015–2019 — where technocratic convenience and political expedience replaced prudent economic judgment. The Central Bank’s independence must be matched by accountability, and every dollar borrowed must be linked to measurable economic outcomes.

If there is one truth the bankruptcy laid bare, it is this: a nation cannot borrow its way to prosperity. Borrowing, when not anchored to reform, only delays the reckoning. Sri Lanka’s road to recovery must therefore begin not with more loans, but with institutional discipline, transparency, and a commitment to live within its means.