By: Staff Writer
February 09, Colombo (LNW): While headline indicators suggest Sri Lanka has stepped back from the brink, economists at the 40th Annual Sessions of the Sri Lanka Economic Association (SLEA) urged policymakers not to confuse short-term stability with long-term recovery. The central warning: without consistent policy direction and export-driven growth, the economy risks settling into prolonged low-growth equilibrium.
Sri Lanka’s economic recovery remains vulnerable due to persistent policy instability and weak growth foundations, economists warned yesterday, cautioning that recent macroeconomic stabilisation will not translate into durable revival without long-term structural reform and policy continuity.
Speaking yesterday at the opening of the 40th Annual Sessions of the Sri Lanka Economic Association (SLEA) at the BMICH, SLEA President Prof. Sirimevan Colombage said the country stood at a defining crossroads between hard-won stability and the risk of prolonged stagnation
Outgoing SLEA President Rev. Prof. Wijitaputra Wimalaratana placed current challenges in a historical context, arguing that Sri Lanka’s post-independence development strategy has remained inward-looking and defensive. Despite nearly eight decades of independence, the country has climbed only one World Bank income category since 1989, briefly reaching upper-middle-income status before sliding back.
This legacy continues to shape today’s vulnerabilities. Although foreign reserves have improved and inflation remains subdued, net usable reserves remain constrained when adjusted for swap obligations with China and India. Economists warned that such instruments, while useful for liquidity management, postpone rather than resolve external imbalances.
Interest rate policy was also scrutinised. Maintaining a 7.75% policy rate has supported price stability, but experts cautioned that limited policy flexibility could become risky if global financial conditions tighten or capital outflows accelerate in 2026. With foreign portfolio inflows still cautious and FDI subdued, foreign finance mobility remains fragile.
The balance of payments outlook, though improved, remains exposed. Export growth has not kept pace with import demand, and services exports despite their scale are not sufficiently tradable. Prof. Colombage emphasised that 88% of services output is domestically consumed, constraining foreign exchange generation and limiting growth potential.
Constructive criticism at SLEA focused on governance and policy credibility. Rev. Prof. Wimalaratana highlighted the absence of “policy locks,” noting that frequent reversals in land, investment, and tax policy undermine long-term planning. He called for cross-party consensus to preserve core economic policies for 15–20 years, arguing that transformation cannot occur within election cycles.
The message from the SLEA sessions was unambiguous: Sri Lanka’s challenge in 2026 is not crisis survival but economic redesign. Without stable policies, export-oriented services reform, and credible long-term commitment, recovery risks remaining superficial visible in numbers, but absent in lived economic reality.
Recovery on Paper, Risk in Practice: Sri Lanka’s Economic Reality
High Court Fixes March 2026 Date for Bribery Case Involving Ex-Minister Rambukwella
February 09, Colombo (LNW): The Colombo High Court has scheduled the next stage of proceedings in a corruption case filed by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) against former Minister Keheliya Rambukwella and two other defendants.
The matter was taken up today (09) before High Court Judge Mohamed Mihal, who, after hearing submissions from both sides, directed that the case be recalled for further hearing on March 14, 2026.
The CIABOC alleges that during the 2015 presidential election period, public funds belonging to the Sri Lanka Rupavahini Corporation were misused, resulting in a loss estimated at nearly Rs. 1 million.
The charges relate to the purchase of 600 GI pipes, which investigators claim were acquired for political activities while Rambukwella was serving as Minister of Mass Media.
Also named as accused in the case are Wimal Rubasinghe, a former Chairman of the Sri Lanka Rupavahini Corporation, and Chandrapala Liyanage, who previously held the post of Director General. The case will continue as the court examines evidence relating to the alleged misuse of state resources.
Myanmar Extends Food Aid to Sri Lanka in Wake of Cyclone Ditwah
February 09, Colombo (LNW): Myanmar has stepped forward with humanitarian assistance to Sri Lanka, donating 500 metric tonnes of rice to support communities hit hard by Cyclone Ditwah.
The shipment was formally handed over today (09) by Myanmar’s Ambassador to Sri Lanka, Marlar Than Htaik, to the Minister of Trade, Commerce, Food Security and Cooperative Development, Wasantha Samarasinghe.
The rice is expected to be distributed among families facing food shortages following the disaster.
Minister Samarasinghe said the cyclone had caused extensive damage to the country’s agriculture, affecting close to one-fifth of cultivated land. He added that the rice donation complements earlier financial assistance provided by the Myanmar government, underscoring continued regional solidarity as Sri Lanka works to recover from the cyclone’s impact.
Government to Revisit Protection of Occupants Bill Following Legal Challenge
February 09, Colombo (LNW): The Attorney General has informed the Supreme Court that the Government has opted to review the Protection of Occupants Draft Bill that was recently tabled in Parliament.
Appearing before the Court, Additional Solicitor General Sumathi Dharmawardena said the decision was taken in light of concerns raised over the proposed legislation. He further noted that the Minister of Justice has allowed a one-month window, beginning on February 03, for stakeholders and the public to submit observations and recommendations on the draft.
The submission was made when petitions challenging the bill were taken up for consideration. In view of the Government’s decision to reopen the consultation process, the Supreme Court opted to bring the proceedings on the petitions to a close.
Money Laundering Case Against Yoshitha Rajapaksa and Grandmother Deferred to April 2026
February 09, Colombo (LNW): Proceedings in the money laundering case involving Yoshitha Rajapaksa, the son of former President Mahinda Rajapaksa, and his grandmother Daisy Forest were put off today (09) by the Colombo High Court, with the matter now rescheduled for April 24, 2026.
The case was heard before High Court Judge Rashmi Singappuli, where the prosecution informed the court that a key medical assessment was still pending. State Counsel Oswald Perera, appearing on behalf of the complainant, said the court-appointed medical officer had yet to submit a report on whether Daisy Forest is mentally capable of participating in the trial process.
In light of the delay, the prosecution requested additional time for the report to be received and placed before court. Accepting the submission, the judge agreed to adjourn the hearing to a later date.
The Attorney General has brought charges under the Prevention of Money Laundering Act, alleging that the accused channelled more than Rs. 59 million, believed to be proceeds of unlawful activity, into three fixed deposit accounts held at private banks over a period spanning from March 2009 to December 2013. The case remains pending as procedural matters are addressed ahead of the next hearing.
Buddha Statue Dispute: Balangoda Kassapa Thero and Others Further Remanded
February 09, Colombo (LNW): The Trincomalee Magistrate’s Court has ordered that four Buddhist monks, among them Ven. Balangoda Kassapa Thero, along with six laypersons, remain in remand custody until February 11, 2026.
The group was taken into custody in connection with the installation of a Buddha statue at the Bodhiraja Vihara in Trincomalee on November 16, 2025. Authorities allege that the statue was placed in a protected coastal area without the required approvals, breaching existing coastal conservation regulations.
Beyond Ballot Boxes: Why Period Poverty Must Be a Priority for Dr. Binod Chaudhary’s Political Campaign
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By: Pramod Chinthaka Peiris
February 09, World (LNW): As Nepal prepares for another crucial electoral cycle, attention is increasingly turning to candidates who choose to contest in rural and economically marginalised constituencies. In the midst of this, Dr. Binod Chaudhary, a billionaire entrepreneur, business magnet and philanthropist turned political figure in Nepal, has reportedly expressed his keenness in such constituencies.
Should Dr. Chaudhary decide to seek office in such an area, he will be stepping into a landscape shaped not only by poverty and underdevelopment, but also by deeply rooted social crises that continue to affect the most vulnerable. Among these, period poverty stands out as one of the most urgent and least adequately addressed challenges facing rural girls and young women.
Period poverty in Nepal refers to the lack of access to affordable menstrual products, proper sanitation facilities, and accurate health education. In many rural districts, poverty levels remain high and female literacy remains low, leaving adolescent girls with little support or information when they reach puberty. Nearly half of rural girls lack access to appropriate menstrual materials and are forced to rely on unhygienic alternatives such as old cloths or leaves, increasing the risk of infection and long-term health complications.
The problem is compounded by persistent cultural practices, most notably chhaupadi, which continues in parts of western Nepal despite being outlawed nearly two decades ago. Under this tradition, menstruating girls and women are considered “impure” and are often forced to stay in isolated sheds or cattle shelters. In some regions, as many as 80 per cent of families still impose such restrictions.
These conditions expose girls to cold, smoke inhalation, animal attacks, and even death from snake bites. Beyond physical danger, the practice inflicts deep psychological harm and reinforces stigma around natural biological processes.
Health consequences remain severe. Many girls change makeshift menstrual materials infrequently, increasing the likelihood of urinary tract infections, reproductive health problems, and chronic discomfort. Nearly half receive no formal education about menstruation and are taught from an early age that menstrual blood is “dirty” or shameful.
This lack of knowledge, combined with isolation during periods, worsens both physical and mental health outcomes.
Education is another major casualty of period poverty. Only a small proportion of public schools in rural Nepal have separate, functional toilets for girls. As a result, many students miss classes during their menstrual cycles. Studies suggest that nearly half of rural girls are absent from school at least once a year because of menstruation, while some miss up to a week each month. Over time, this leads to falling behind academically and, in many cases, permanent dropout. This silent “girls’ tax” continues to widen gender gaps in education.
The long-term social and economic consequences are profound. Limited education, combined with early marriage and restricted mobility, traps many rural girls in cycles of dependency and poverty. Child marriage remains one of the leading causes of school dropout after primary level, and married adolescents are far more likely to abandon their studies. These patterns are often repeated across generations, reinforcing inequality and limiting national development.
Nepal is not alone in facing such challenges. Several South Asian countries, including Sri Lanka, have grappled with period poverty in rural and estate communities. While the situation in Sri Lanka has generally been less severe, it demonstrates that cultural stigma, inadequate facilities, and limited awareness can persist even in relatively better-resourced settings. The Nepali experience, however, remains more acute and demands stronger political leadership and sustained intervention.
There have been encouraging initiatives. Non-governmental organisations have introduced reusable pads, menstrual cups, and school-based awareness programmes. Some schools now produce reusable products locally, improving attendance and confidence among students. The government has pledged to provide free sanitary products, and activists continue to push for better distribution systems.
Yet implementation remains inconsistent, funding is limited, and monitoring at community level is weak. Many girls still depend on irregular donations or self-made alternatives.
This is where political leadership becomes decisive. For any candidate seeking the trust of a rural constituency, addressing period poverty is not a peripheral welfare issue; it is central to human dignity, gender equality, and long-term development. Dr. Binod Chaudhary, with his experience in business and public life, is well placed to champion practical, scalable solutions if he chooses to make this issue a priority.
Such leadership would require more than symbolic gestures. The provision of sanitary products must be combined with sustained awareness campaigns, school infrastructure investment, community dialogue, and strict enforcement against harmful practices like chhaupadi. Partnerships with local governments, health workers, and civil society groups are essential to ensure that policies translate into real change on the ground.
Ultimately, elections are not only about winning seats; they are about defining priorities. In rural Nepal, where young girls continue to risk their health, education, and even their lives because of menstruation-related stigma, period poverty represents a moral and developmental test for political leaders. If Dr. Binod Chaudhary chooses to contest such a constituency, his response to this crisis will be closely watched — not only by voters, but by a generation of girls hoping for a safer, fairer future.
Public Exposition of Sacred Devnimori Relics Continues for Fifth Consecutive Day
February 09, Colombo (LNW): The public exposition of the revered Devnimori relics of Lord Buddha, brought to Sri Lanka from India, is continuing today (09) for a fifth straight day at the Gangaramaya Temple in Hunupitiya, Colombo.
The sacred display began on February 05, 2026 and has since attracted an outpouring of devotees from across the country. Temple officials reported especially large crowds yesterday (08), with worshippers gathering in significant numbers to pay homage and offer prayers.
The Devnimori relics were unearthed during archaeological excavations carried out in the 1960s at the ancient Devnimori site in the Indian state of Gujarat. Of exceptional historical and religious importance, the relics are being exhibited outside India for the first time, making the event a rare and momentous occasion for Buddhists.
Devotees will be able to venerate the relics continuously, day and night, with the exposition scheduled to remain open without interruption until 7.00 a.m. on February 11, 2026. Organisers have made special arrangements to accommodate the steady flow of visitors while maintaining religious observances and security.
Ditwah Catastrophe: Over Rs. 3.2 Billion Paid to Livestock Farmers Hit by Cyclone
February 09, Colombo (LNW): The Government has already disbursed more than Rs. 3.2 billion in compensation to livestock farmers whose operations were devastated by Cyclone Ditwah, Deputy Minister of Agriculture and Livestock Namal Karunaratne disclosed.
Speaking to the media after the launch of the National Livestock Post-Disaster Emergency Vaccination Programme, the Deputy Minister said financial relief had been extended to farms that suffered losses of cattle, pigs, goats, broiler poultry and laying hens as a result of the cyclone.
He explained that the compensation scheme was only one part of a broader recovery effort, noting that an emergency vaccination drive had been introduced to stabilise the sector and prevent further setbacks. A sum of Rs. 2.5 billion has been earmarked for the programme, with funding support from the World Bank.
The vaccination initiative aims to safeguard surviving animals from the spread of disease in the aftermath of the disaster and is expected to be completed within roughly two months.
Deputy Minister Karunaratne also gave assurances that additional support would be made available to farmers to help rebuild damaged livestock facilities, stressing that restoring rural livelihoods remains a priority in the post-cyclone recovery process.
South Korea’s Ruling Party Expels County Leader After Offensive Remarks on Sri Lanka and Vietnam
February 09, Colombo (LNW): South Korea’s governing Democratic Party has moved to expel a local government head following widespread criticism over comments he made about bringing women from abroad to address falling birth rates in rural areas, foreign media reported.
The party’s top decision-making body voted unanimously on Monday to remove Kim Hee-su, the head of Jindo County in South Jeolla Province, citing remarks that were widely condemned as offensive and demeaning. Party spokesperson Park Soo-hyun confirmed the decision after the meeting.
The action follows comments made by Kim during a televised public forum last week, where he spoke of attracting young women from countries such as Vietnam and Sri Lanka to marry men in depopulated farming communities. The remarks quickly triggered anger on social media and across the political spectrum, with critics accusing him of reducing women to demographic tools.
Kim issued a public apology the next day, arguing that his comments had been poorly expressed and were meant to draw attention to long-standing structural challenges in rural regions, including population decline, limited opportunities for young people, and weakening prospects for marriage. He also linked the issue to his long-held view that closer administrative integration between South Jeolla Province and the city of Gwangju was needed.
The controversy, however, extended beyond domestic politics. Vietnam’s Embassy in Seoul formally protested to provincial authorities, expressing concern over the language used and its potential impact on perceptions of Vietnamese women. In response, South Jeolla Province conveyed its regret to the Vietnamese government, its citizens and particularly to women who may have felt insulted, acknowledging that the comments were inappropriate and hurtful.