IMF tells Sri Lanka to rebuild reserves, be ready to tighten

By Shihar Aneez COLOMBO, Mar 7 : The International Monetary Fund on Tuesday urged Sri Lanka’s central bank to rebuild international reserves, while maintaining exchange rate flexibility, and to be ready to tighten monetary policy if credit growth or inflation do not abate. Following its second review of a $1.5 billion three-year loan programme, the […]

Sri Lanka seeks higher bids for ailing airline

By Shihar Aneez COLOMBO, Feb 27 : Sri Lanka is seeking higher bids to restructure its state-owned loss-making airline, the finance minister said today, after three short-listed firms failed to give “sizable” bids. Sri Lanka wants to sell up to 49 per cent of the national carrier along with management control, part of a move […]

Sri Lankan PM says failed asylum seekers safe to return home

By Colin Packham SYDNEY, Feb 15 : Sri Lankan Prime Minister Ranil Wickremesinghe said today that failed asylum seekers held in Australian-run detention centres in the South Pacific will not face prosecution or harm if they return home. Wickremesinghe’s comment comes as Australia increases pressure on failed asylum seekers on Papua New Guinea’s Manus island […]

With drought looming, Sri Lanka tries something new: preparing

By Amantha Perera COLOMBO, Jan 18 : With rainfall in many areas just a third of that last year and many water reservoirs far below normal levels, Sri Lankans have begun holding traditional ceremonies to invoke rain – some with the participation of President Maithripala Sirisena. But this time, national officials are also doing something […]

Sri Lanka divided as panel backs foreign judges to probe war crimes

By Shihar Aneez COLOMBO, Jan 5 : Sri Lanka should bring in international prosecutors and judges to help investigate alleged atrocities in the civil war that ended in 2009, a task force said today in recommendations that were welcomed by the United Nations. The Consultation Task Force (CTF), appointed by Prime Minister Ranil Wickremesinghe, said […]

Sri Lanka says 32 “elite” Muslims have joined IS in Syria

By Shihar Aneez COLOMBO, Nov 19 : Thirty-two Sri Lankan Muslims from “well-educated and elite” families have joined Islamic State in Syria, the justice minister told parliament, promising that the government would clamp down on extremists. The statement by minister Wijeyadasa Rajapakshe was condemned by representatives of the Muslim minority, who complained of racism. “All […]