By: Staff Writer

November 02, Colombo (LNW): Sri Lanka is aiming to complete its debt restructuring by the end of this year, with a goal to exit its default rating category soon afterward.

According to Central Bank Governor Nandalal Weerasinghe, the country’s efforts include formalities such as due diligence and documentation, necessary to finalize the debt exchange and secure investor involvement.

 This strategic plan, supported by the International Monetary Fund (IMF) and international advisors, reflects Sri Lanka’s commitment to addressing its financial difficulties after securing a debt restructuring agreement with official and private creditors, including China Development Bank.

The debt restructuring agreement with bondholders is a pivotal step, as it involves macro-linked bonds, which are tied to Sri Lanka’s economic growth.

This alignment of debt repayment with economic performance aims to make debt servicing sustainable and is a practical solution for a country recovering from economic setbacks.

Additionally, Governor Weerasinghe remains optimistic that an upgrade to Sri Lanka’s credit rating will follow shortly after restructuring, a critical step for the country’s reintegration into international financial markets.

 Meetings with rating agencies in Washington, D.C., indicate that Sri Lanka could initially be reclassified from its default status to a CCC rating or better, based on its financial outlook.

However, delays in the IMF’s third review of the $3 billion Extended Fund Facility (EFF) have posed additional challenges. Originally set for December, this review was postponed due to a delay in next year’s budget submission and an impending presidential election.

With parliamentary elections scheduled for November 14, the government has voiced a strong commitment to continue with debt restructuring.

A staff-level agreement with the IMF is expected by early December, but formal approval may be further delayed, as Sri Lanka needs to submit the new budget before the IMF Executive Board can complete the review process.

Sri Lanka’s approach to debt restructuring and efforts to stabilize its financial standing reflect a strategic focus on long-term economic recovery.

 While the delays in IMF proceedings may extend the timeline for an official credit rating upgrade, the government’s commitment to addressing structural debt issues is a promising sign for future economic stability.

By: Isuru Parakrama

November 02, Colombo (LNW): In response to a recent resurgence of measles cases, Sri Lanka’s Health Ministry has designated a special vaccination week from November 4 to 9, according to a statement from the Health Promotion Bureau.

This initiative aims to contain the outbreak that has impacted primarily adults in the 20–30 age range since 2023, raising concerns amongst health authorities.

The ministry’s press release noted that while the initial cases have mostly appeared among young adults, the virus has subsequently been transmitted to younger children, particularly infants under nine months.

The upcoming vaccination campaign will focus on those at higher risk: individuals aged 20 to 30 will receive immunisations for measles and Rubella, while children from nine months to 19 years will be vaccinated against measles alone.

The recent cases are a stark reminder of the nation’s past battle with the disease. In 2019, the World Health Organization (WHO) had declared Sri Lanka free of endemic measles, crediting the achievement to sustained immunisation efforts that interrupted local transmission of the virus.

However, this resurgence underscores the need for vigilance, especially given measles’ highly infectious nature and its potential to endanger vulnerable young children.

Health authorities have reiterated the importance of timely vaccination to prevent further spread, with this special week representing an essential public health effort to safeguard communities across the country.

November 02, Colombo (LNW): Dr. Nalinda Jayatissa, Kalutara District Team Leader for the Nation People’s Power (NPP) in the upcoming general election, has announced that the party will prioritise accessible, quality medicines for all citizens under an NPP-led government.

He emphasised that confidence in government-distributed medicines has eroded, necessitating decisive reforms to ensure that patients receive effective, high-standard treatments through state healthcare systems.

Dr. Jayatissa outlined the NPP’s vision to provide affordable, reliable medicines at pharmacies across the nation.

Central to these reforms is the establishment of a state-of-the-art laboratory to rigorously test and monitor medication quality, which he stated would address gaps in existing regulatory infrastructure.

“At present, we lack world-class laboratories for medicine quality assurance, and this deficiency leads to quality control issues. Thus, establishing a formal, high-standard medicine testing institute is imperative,” he noted.

To build a reliable, transparent system, Dr. Jayatissa stressed the need to eradicate corruption, political interference, and inefficiencies from key health sector bodies, including the Ministry of Health’s Medical Supply Unit and the Drug Regulatory Authority.

According to Jayatissa, rooting out these problems will reinforce not only the quality of medicines but also the broader healthcare infrastructure.

Further, to alleviate overcrowding in government hospitals, Dr. Jayatissa proposed setting up ‘Primary Health Centres’ (PHCs), each intended to serve around 4,000 residents.

These centres would create localised access to healthcare and simultaneously reduce hospital burdens. He highlighted plans to integrate PHC data into a comprehensive national health database as part of the ‘Sri Lanka Digitisation Programme’.

Through this digital system, patients would be able to access treatment and healthcare services at any government hospital by using a unique personal identification number, facilitating streamlined, coordinated care nationwide.

Through these initiatives, Dr. Jayatissa reaffirmed the NPP’s commitment to delivering high-quality healthcare that is both affordable and trustworthy, setting a transformative agenda for the nation’s healthcare system.

By: Isuru Parakrama

November 02, Colombo (LNW): Ex-State Minister Lohan Ratwatte, recently arrested on allegations of possessing an illegally imported luxury car assembled locally, has been moved to the prison hospital following a court decision.

Ratwatte, apprehended by Mirihana Police on October 31 in Kandy, was initially remanded until November 07 but has now been granted permission to receive medical attention at the prison hospital.

The arrest was tied to the discovery of an unregistered, high-end vehicle at his wife’s residence in Mirihana, Nugegoda.

This three-storey property, owned by Ratwatte’s wife, Shashi Prabha Ratwatte, came under police scrutiny on October 26 following intelligence suggesting the presence of an unregistered luxury car without licence plates.

Police located the car at the residence, prompting further investigation.

Upon questioning, both Ratwatte and his wife informed police that Ratwatte’s mother-in-law occupies the residence and that the vehicle was reportedly brought there three weeks prior by Ratwatte’s private secretary.

Notably, the private secretary was recently found deceased from gunshot wounds in Katugastota, Kandy, adding a layer of complexity to the ongoing investigation.

The case has cast a spotlight on the issue of unregistered vehicles within high-profile circles and raised questions regarding the potential misuse of luxury cars in Sri Lanka.

Ratwatte’s transfer to the prison hospital has led to public speculation that elite personnel accused of crime being arrested and subsequently admitted to prison hospital is an ongoing trend in Sri Lanka, easing reparation regardless of the nature of their alleged crimes.

The investigation continues into both the origins of the car and the suspicious circumstances surrounding the recent death of his private secretary.

By: Isuru Parakrama

November 02, Colombo (LNW): Axiata Group Berhad announced that Dr. Hans Wijayasuriya, its CEO of Telecommunications Business and Group Executive Director, will transition from his role in January 2025, as he takes on a pivotal new position with the Sri Lankan government.

Dr. Wijayasuriya has been invited to lead the country’s digital transformation strategy as Chief Advisor to the President on Digital Economy and in other strategic capacities.

Having accepted the invitation from the Government of Sri Lanka, Dr. Wijayasuriya has informed Axiata of his decision to step down effective January 15, 2025.

During the transitional period, he will oversee key responsibilities at Axiata, including guiding the group’s telecommunications operations across Malaysia, Indonesia, Bangladesh, Sri Lanka, and Cambodia, and will remain available to advise the Sri Lankan government on digital initiatives in a non-executive capacity.

Dr. Wijayasuriya’s departure marks the close of a 30-year tenure with Axiata and its predecessor, Telekom Malaysia.

Throughout his career, he has shaped the group’s strategy and elevated its influence across the Asia-Pacific region.

In recognition of his leadership and technological contributions, he was awarded the GSMA Chairman’s Award in 2024, the highest honour in the global mobile industry.

Axiata’s Chairman, Tan Sri Shahril Ridza Ridzuan, commended Wijayasuriya, acknowledging his “visionary leadership” that has driven the group’s growth.

Axiata’s CEO and Managing Director Vivek Sood added:

“It is a great honour that one of our own has been selected to contribute at a national level. Dr Wijayasuriya’s appointment demonstrates Axiata’s dedication to developing leaders who make an impact far beyond our industry.”

As he prepares to take on his advisory role with the government, Dr. Wijayasuriya expressed deep gratitude for his time with Axiata, saying, “Being part of Axiata’s journey has been an honour. I am privileged to contribute to Sri Lanka’s digital future, bringing every lesson I’ve learned to this new role.”

By: Isuru Parakrama

November 02, Colombo (LNW): President Anura Kumara Dissanayake engaged in a productive dialogue with Indian High Commissioner H.E. Santosh Jha at the Presidential Secretariat on November 01, focusing on fortifying the strong ties between Sri Lanka and India.

Their discussions encompassed collaborative projects, energy sector development, digitalisation, and a commitment to resolving fishing disputes affecting both nations.

During the meeting, both leaders conducted a comprehensive review of Indian-backed initiatives in Sri Lanka, assessing their progress and identifying any hurdles in implementation.

The President expressed gratitude for India’s consistent support, particularly in areas of infrastructure and regional development, which remain central to enhancing the lives of Sri Lankan citizens.

A key topic of discussion involved the longstanding fishing disputes in the Northern Sea, a complex issue affecting fishermen on both sides of the maritime boundary.

Emphasising the need for a durable solution, both parties underscored the importance of balancing the livelihoods of local fishermen whilst fostering mutual respect and cooperation.

Dissanayake affirmed Sri Lanka’s commitment to advocating for the interests of its fishing communities, seeking strategies that ensure sustainable practices and fair access for both countries.

In addition to resolving regional challenges, the President expressed keen interest in tapping into India’s extensive experience in power and energy advancements, as well as digitalisation initiatives.

Recognising India’s leadership in these fields, he conveyed Sri Lanka’s interest in learning from India’s successes, with the goal of modernising energy systems and advancing digital transformation within Sri Lanka.

Deputy High Commissioner Dr. Satyanjal Pandey also participated in the discussions, which highlighted the potential for deeper collaboration across a range of sectors.

Both parties expressed optimism for ongoing engagement and the shared objective of fostering progress and stability in the region.

By: Isuru Parakrama

November 02, Colombo (LNW): After three decades of restricted access, the Achchuveli main road has reopened under the directive of President Anura Kumara Dissanayake, marking a significant step towards revitalising the Northern Province’s connectivity and development.

Closed since the height of the conflict in the region, the Palaly-Achchuveli road had remained inaccessible to civilians, despite the end of hostilities over 15 years ago.

For years, residents of the Northern Province have advocated for the reopening of this critical road, which they see as a vital link to support both economic activity and easier movement within the region.

Northern Province Governor Nagalingam Vethanayagam also underscored this need in a meeting with President Dissanayake on October 22, during which he highlighted the road’s reopening as an urgent priority for the local population.

Responding to this request, President Dissanayake issued instructions for a security assessment, aiming to ensure a safe reopening process.

With support from the Ministry of Defence and Defence Secretary, officials completed a thorough review, confirming that conditions allowed for civilian access.

The Achchuveli road’s reopening was finalised yesterday (01) and is expected to make a profound impact on the region’s socio-economic activities.

Local businesses anticipate increased opportunities and improved logistics, whilst residents are hopeful that the newly accessible route will restore connections with neighbouring communities.

By: Isuru Parakrama

November 02, Colombo (LNW): The annual Poppy Flower Remembrance ceremony, organised by the Sri Lanka Ex-Servicemen’s Association, is scheduled for November 24 in Colombo, where the nation will pay tribute to its fallen soldiers.

In a briefing held today, President of the Association Lieutenant Colonel Ajith Siyambalapitiya (Retd) highlighted the symbolic significance of the poppy and the various ways the public can participate in this commemorative event.

As part of the initiative, the Association has produced poppy flower stickers, available for purchase at 50 rupees each, and badges priced at 100, 150, and 250 rupees, which can be displayed on vehicles or personal items.

These poppies have also been distributed to several schools, offering students the opportunity to contribute with donations starting at 20 rupees or more.

Lt. Col. Siyambalapitiya elaborated on how the funds generated will directly support the Ranaviru Home in Katana, a residence for about 30 elderly war veterans.

“The funds we raise go toward essential support for our veterans,” he explained. “This includes funding medical treatments, scholarships for veterans’ children, eyeglass provisions, loans, and training for self-employment.”

Retired Major General Udaya Perera, Chairman of the Poppy Flower Committee, underscored the poppy’s deeper significance beyond its traditional use, saying, “Wearing a poppy is an important gesture of respect towards our soldiers. It’s a symbol of honour that we hope all citizens will adopt, as it speaks more of respect and remembrance than mere financial support.”

He emphasised the meaningful tradition as an act of unity and collective memory, inviting the public to display the poppy as a tribute to the sacrifices made by the nation’s servicemen and women.