The International Monetary Fund (IMF) has praised Sri Lanka’s continued progress under its economic reform program, noting that the country is experiencing strong growth momentum following its recovery from a deep financial crisis.

At a regional economic outlook briefing, Krishna Srinivasan, Director of the IMF’s Asia and Pacific Department, and Thomas Helbling, Deputy Director, provided updates on Sri Lanka’s economic performance and reform efforts.

Helbling stated that Sri Lanka is now reaping the rewards of program implementation after enduring a severe recession.

“After a deep recession during the crisis, Sri Lanka has now implemented the program and is benefiting from very strong growth — 5% last year, with an estimated 4.2% this year and next year, going toward a potential growth rate of around 3%,” he said.

He emphasized that continued implementation of IMF-backed reforms is essential to sustain the recovery.

“The key advice is to continue with program implementation, realize the full benefits of the reforms, and ensure that growth remains on track. For Sri Lanka, it’s important to stay on the path of stabilization,” he added.

Helbling further highlighted the importance of fiscal consolidation, state-owned enterprise reform, and sound institutional frameworks to maintain macroeconomic stability and ensure long-term success.

Echoing his remarks, Srinivasan said Sri Lanka has made remarkable progress compared to just a few years ago.

“Sri Lanka has come a long way from where it was. Our message is to stay the course. The country has already done the difficult part — by continuing with reforms, it will continue to see the benefits,” he said.

The IMF officials also stressed the need to strengthen governance and public investment management while maintaining fiscal discipline. Helbling acknowledged “impressive progress” in meeting structural benchmarks, including electricity pricing reforms and cost recovery measures.

Both officials reaffirmed the IMF’s support for Sri Lanka’s reform path, emphasizing that staying committed to reforms is crucial to ensure sustained growth, fiscal stability, and economic resilience.

Sri Lanka Customs has announced that it recorded its highest-ever single-day revenue of Rs. 24,918 million on October 15, 2025.

According to official data, the cumulative revenue collected by the department up to that date stood at Rs. 1,867 billion.

The Director General of Customs stated that, given the current pace of revenue collection, the annual target of Rs. 2,115 billion set for 2025 is expected to be surpassed with ease.

The department attributed this strong performance to improved operational efficiency, enhanced compliance measures, and higher import volumes during recent months.

Redbridge, Essex: The UK Committee of the National People’s Power (NPP) hosted a high-level meeting between Sri Lanka’s Deputy Minister for Environment, MP Anton Jayakody, and a group of UK-based environmental activists, academics, and sustainability enthusiasts.

Minister Jayakody focused on Sri Lanka’s current and future environmental priorities. Topics covered included deforestation, biodiversity conservation, elephant protection, renewable energy, water purification, sanitation, and sustainable waste management. The meeting aimed to provide clarity on how Sri Lanka’s environmental strategies align with economic policy and explore opportunities for international collaboration.

UK participants expressed strong support for the NPP-led government’s environmental agenda, noting growing international confidence in its transparent governance and commitment to tackling corruption. Attendees emphasised that this renewed trust provides a solid foundation to establish an international support group focused on Sri Lankan wildlife and environmental initiatives and pledged the formation of a wildlife committee to lend global support to Sri Lanka’s environmental initiatives.

The meeting marked a significant step in strengthening ties between the Sri Lankan government and its global SriLankan community towards developing sustainable partnerships for the betterment of Sri Lanka’s environment.

October 16, Colombo (LNW): The International Monetary Fund (IMF) has acknowledged the marked improvement in Sri Lanka’s economic landscape following its recent debt restructuring efforts, noting a gradual return to stability and renewed investor confidence.

However, the institution also cautioned that this momentum must be safeguarded through continued fiscal discipline and structural reform.

Speaking during the launch of the Global Financial Stability Report in Washington D.C., senior IMF officials highlighted Sri Lanka as one of several frontier economies showing signs of recovery after navigating a prolonged period of economic distress.

The country’s return to the path of growth comes as global financial conditions remain relatively favourable, with liquidity levels providing emerging markets with improved access to capital.

Jason Wu, Assistant Director of the IMF’s Monetary and Capital Markets Department, observed that a weakening of the US dollar has helped reduce external pressure on economies such as Sri Lanka. However, he emphasised that this temporary relief should not lead to a false sense of security.

“Frontier economies must use this period to reinforce economic fundamentals—strengthening both their current account positions and fiscal buffers,” Wu noted, reiterating key points from the IMF’s latest World Economic Outlook.

Echoing this sentiment, Tobias Adrian, Director of the IMF’s Monetary and Capital Markets Department, remarked that Sri Lanka is making tangible progress in emerging from its debt crisis. He described the country as being on a “positive trajectory” in terms of economic growth and the restoration of market confidence.

“Market conditions have been relatively accommodative, and many lower-income nations with market access have been able to tap into global liquidity. Sri Lanka is among those now benefiting from that environment,” Adrian said.

Despite the cautiously optimistic tone, the IMF also warned that the current calm across global financial markets may conceal underlying vulnerabilities. Policymakers in recovering economies, including Sri Lanka, are therefore being urged not to lose sight of long-term reforms needed to bolster economic resilience.

As Sri Lanka continues its recovery, international institutions and analysts alike will be closely watching how the government manages this critical phase—balancing macroeconomic stabilisation with the need to address structural weaknesses that contributed to the crisis in the first place.

October 16, Colombo (LNW): Justice Minister Harshana Nanayakkara has emphasised that future initiatives undertaken by his ministry must prioritise public access to justice rather than catering primarily to the convenience of legal professionals.

Speaking at the official opening of the new Puttalam Court Complex yesterday (October 15), the Minister made it clear that infrastructure projects within the justice sector should be designed with ordinary citizens in mind. The new court facility, constructed at a cost of Rs. 202 million, is part of a broader government effort to improve judicial services across the island.

“I say this as a fellow member of the legal profession—our focus cannot be solely on what makes things easier for lawyers,” Nanayakkara said during his address. “The true measure of our justice system lies in whether the people can actually access it.”

He underscored that the Government’s mandate includes upholding the rule of law and delivering a justice system that serves every citizen equally.

He reaffirmed the administration’s commitment to equipping both the public and professionals with the facilities needed to exercise their legal rights and responsibilities effectively.

October 16, Colombo (LNW): Law enforcement authorities carried out a major island-wide crackdown on crime and narcotics yesterday, resulting in the arrest of over 500 individuals linked to a range of offences.

The coordinated operations were undertaken across all police divisions under the directive of the Inspector General of Police (IGP), with a focus on dismantling criminal networks and curbing drug-related activities.

According to official figures, the intensive operation saw a total of 28,020 individuals subjected to inspection within a single day. Of those, 577 were taken into custody on grounds of suspicion, while 17 individuals were directly connected to active criminal investigations.

A significant number of arrests were made involving individuals who had evaded justice. Police apprehended 269 persons who were the subject of outstanding arrest warrants, and another 144 who were listed under open warrants, suggesting a strong emphasis on reining in repeat offenders and fugitives from the law.

Traffic enforcement also featured prominently in the operation. Fifteen drivers were detained for operating vehicles under the influence of alcohol, while 13 were arrested for reckless driving. In addition, 3,504 citations were issued for a range of other traffic-related violations, reflecting broader concerns over road safety and discipline.

October 16, Colombo (LNW): Nilu Dilhara Wijedasa, the former Director of the State Engineering Corporation of Sri Lanka (SECSL), has been taken into custody by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) over allegations of abuse of state resources.

The arrest stems from a 2019 incident in which Wijedasa is accused of diverting the corporation’s staff and equipment to carry out renovation work at the headquarters of the United National Party (UNP), located in Sirikotha.

The Commission alleges that this unauthorised use of public assets resulted in a measurable financial loss to the state.