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[Last Updated = Thu, Jun 21, 2018, 12:36 pm SL Time]
IMF expects Sri Lanka's economy to gradually normalize but says vulnerable to shocks due to high debt

June 20 (CP) Colombo- The International Monetary Fund (IMF) on Wednesday said Sri Lanka's economy is expected to normalize gradually but remains vulnerable to adverse shocks due to sizable public debt, large refinancing needs and low external buffers. The global lender expects the Real GDP growth to reach 4 percent in 2018 and around 5 percent over the medium term
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June 21 (CP) Colombo- The Passing Out Parade of the No 4th Contingent of Sri Lanka Air Force (SLAF) Aviation Unit under the United Nations helicopter deployment in South Sudan (UNMISS) was held at SLAF Base Katunayake on Tuesday (19).

June 21 (Island) KANDY – Seven Arabs, enjoying a boat ride in the Mahaweli Ganga, nearly drowned when their vessel capsized near Halloluwa Waratenna on Wednesday afternoon. The foreigners escaped by holding on to some rock outcrops. They were rescued by residents of the area and police personnel rushed there from Peradeniya, Kandy and Katugastota.

June 21 (DN) Co-cabinet spokesman Minister Dr. Rajitha Senaratne said President Maithripala Sirisena was speaking to the Mahanayakes regarding a Presidential pardon for Ven. Galagoda Aththe Gnanasara. He however could not confirm whether this would materialise or not.

June 21 (SBS) A Tamil asylum seeker family living in the small Queensland town of Biloela have had their appeal to stay in Australia rejected by the Federal Circuit Court.

June 20 (CP) Colombo- Retired Senior DIG Ravi Waidyalankara has been re-employed to head the Financial Crime Investigation Division (FCID) of Police. Waidyalankara, who held the post previously, has retired from service last month.

June 20 (CP) Colombo- Two foreigners were killed in a road accident on the Southern Expressway early Wednesday morning when their vehicle collided with a container truck, the police said. An Australian woman and a four-year-old girl were killed in the fatal accident that occurred around 5 am today (20) near the 65th Km post in Kurundugahahetekma area on the Southern Expressway.

* CA orders immediate removal of Dr Senaratne from SJGH Board (20 - Island)
* Compensation to war-affected: New Cabinet memo submitted (20 - DM)
* Avant-Garde corruption case: Gota’s revision petition taken on July 2 (20 - DN)


June 21 (CP) Colombo- Kingdom of Bahrain, the rich Gulf country impressed by Sri Lanka's diverse and high-quality range of locally made exportable products is seeking to partner its investors with the local industries, Minister of Industry and Commerce Rishad Bathiudeen said.

June 20 (CP) Colombo- Following the announcement by Secretary of State Mike Pompeo that the United States withdrew from the United Nations Human Rights Council effective June 19, 2018, the U.S. Embassy in Colombo assured that the United States will support and expand the bilateral partnership between the two countries.

June 20 (CP) Colombo- The government of Sri Lanka is committed to further facilitate the investment climate through a well thought out program for eliminating barriers in the business environment, Sri Lanka's Minister of Finance Mangala Samaraweera said.


June 21 (CP) Colombo- The Manufacturing Sector PMI recovered in May following the seasonal contraction observed in the previous month and recorded an index value of 60.6 in May with an increase of 15.1 index points from April.

June 21 (Island) A Memorandum of Understanding (MoU) was signed between Central Province Council together with INSEE Cement Sri Lanka also known as Siam City Cement (Lanka) Ltd.

June 21 (DM) Abans yesterday announced the appointment of Sriyan de Silva Wijeyratne as its Chief Executive Officer (CEO). The company said he would assume duties effective mid-August 2018.

June 21 (DN) SriLankan Airlines is facing high competition and the best way to bail out the airline and make it viable is to call for a ‘SAARC regional open sky policy,’ said SriLankan Airlines, CEO, Suren Ratwatte.

June 21 (SCMP) Sri Lanka’s most famous elephant is a white one called Mattala Rajapaksa International Airport (MRIA). It was opened at enormous expense in March 2013, to serve Hambantota, on the country’s south coast,

June 20 (CP) Colombo- The Sri Lankan government said today that it has received the third tranche of the proceeds from China Merchant Port Holdings Co. Ltd on the account of handing over of operations of Hambantota Port.

* Sri Lankan stocks drop for 10th session (20 - Reuters)
* Sri Lankan rupee hits fresh record low on importer dollar demand (20 - Reuters)
* CIM and CIM Sri Lanka launch postgraduate qualification - address skills gap in international marketing (20 - Island)
* Uber bets big on Sri Lanka (20 - DM)
* Commercial Bank adjudged Best Internet Bank in Sri Lanka for 3rd year in a row (20 - CP)
* ‘Increasing savings AND investment essential’ (20 - DN)
* Is Sri Lanka missing out on Asia’s digital economy boom? (20 - LSE)


June 21 (CP) Colombo- It is reported that the Sri Lanka School of Agriculture in Kundasale, Kandy has been closed indefinitely due to a fever spreading among the students.

June 21 (CP) Colombo- The Joint Postal Trade Unions say the strike launched by them will continue indefinitely since the talks with the authorities were not successful.

June 21 (CP) Colombo- Minister of Health Dr. Rajitha Senaratne says that steps will be taken to reduce the prices of several very expensive drugs in July. The Minister said steps were taken to reduce the prices of 48 essential drugs at the first stage and now the decision has been made to reduce the prices of expensive drugs under the second stage.

June 21 (Island) The government said yesterday that the decision of the United States of America to quit the United Nations Human Rights Council (UNHRC),could be advantageous to Sri Lanka, with regard to accountability issues arising out of the war with the LTTE.

June 21 (DM) Public Enterprise Deputy Minister H M M Harees and Minister of Higher Education Wijeyadasa Rajapakshe were embroiled in an altercation in Parliament yesterday over a statement allegedly made by Minister Rajapakshe at the Oluvil University that lecturers were demanding sexual favours from students.

June 21 (DN) Co-Cabinet spokesperson, Minister Rajitha Senaratne yesterday said it has come to the notice of the government that members of the Sri Lanka Podujana Peramuna (SLPP) had set up special media networks to spread misinformation to the public.

June 20 (CP) Colombo- Minister of Higher Education and Cultural Affairs Dr. Wijayadasa Rajapakse states that the medical faculty of the South Asian Institute of Technology and Medicine (SAITM) will be abolished after the integration of its medical students into Kotelawala Defense University (KDU) and amendments will be brought to this effect.

June 20 (CP) Colombo- In order to enhance younger generation's capacity building for better educational opportunities, the Government of Pakistan through its High Commission awarded scholarships to 308 Sri Lankan students under the prestigious Jinnah Scholarships Scheme at a local hotel in Kandy on June 19, 2018.

June 20 (CP) Colombo- The Sri Lankan government today urged anyone who have information on missing persons to share that information with the Office on Missing Persons (OMP) that was set up to inquire into missing persons.

June 20 (CP) Colombo- The Joint Postal Trade Unions Front says they will launch an indefinite fast today opposite the Central Mail Exchange in Colombo. Co-convener of the trade union front Chinthaka Bandara told local media that they will launch an indefinite fast since the government has not given a satisfactory response to their demands yet.

June 20 (NST) IT WAS January 2015 and election time in Sri Lanka. The incumbent of nine years, Mahinda Rajapaksa, was in the race, seeking a third term that would allow him to consolidate his increasingly authoritarian rule over his country.

* Decision on PC polls tomorrow? (20 - Island)
* LNG power plant: Proposal to award contract to foreign bidder withheld (20 - DM)
* Pohottuwa explodes (20 - DN)


June 21 (CB) An interesting legal battle is on the cards between the lawyers of Sri Lanka Cricket and International Cricket Council after the former decided to contest the ICC sanctions issued on Thursday. Following the drawn second Test match between Sri Lanka and West Indies in St. Lucia, ICC Match Referee Javagal Srinath found Sri Lanka skipper Dinesh Chandimal guilty of tampering with the ball.

June 21 (ICC) Justin Langer, the Australia coach, described his side’s 242-run humbling against England in the third one-day international a “shock” and said the players could not have had a worse day. After racking up 481/6, the highest ever ODI total, England bowled Australia out for 239 to post an unassailable 3-0 lead in the five-match series.

June 21 (ESPNCI) "It has been an eye-opener for me, that, 'Hang on, ball-tampering around the world is considered cheating.'" ICC chief executive David Richardson said that during a tele-conference announcing a review into the ICC code of conduct in the aftermath of the Cape Town Test.

June 20 (ESPNCI) Former Sri Lanka captain Mahela Jayawardene will lead the Marylebone Cricket Club (MCC), who will take on Nepal and Netherlands in a triangular T20 triple-header at Lord's on July 29. Three Scotland players - batsman Dylan Budge, right-arm quick Alasdair Evans and left-arm spinner Mark Watt


June 20 (BBC) Technicians who arrived to fix a malfunctioning cash machine in the Indian state of Assam got a shock when they opened it up. Notes worth more than 1.2m rupees (£13,300; $17,600) had been shredded - and the suspected culprits are rats.

June 20 (BBC) Stock markets have fallen around the world in the wake of President Trump's latest tariffs threat to China. The Dow Jones closed down almost 1.2% or 287 points after Asian and European markets fell sharply earlier.

June 20 (BBC) The US has pulled out of the United Nations Human Rights Council, calling it a "cesspool of political bias". The "hypocritical and self-serving" body "makes a mockery of human rights", said US envoy to the UN Nikki Haley.

June 20 (BBC) Canada's parliament has passed a law legalising the recreational use of marijuana nationwide. The Cannabis Act passed its final hurdle on Tuesday in a 52-29 vote in the Senate. The bill controls and regulates how the drug can be grown, distributed, and sold.

About Sri Lanka ::-
Introduction to Sri Lanka ::-

Sri Lanka is a beautiful island paradise in the Indian Ocean with white sandy beaches lush greenery, exciting adventures, amazing wildlife, cascading waterfalls and a rich heritage. The island of Sri Lanka is roughly pear-shaped. The total area of Sri Lanka is 65,610 sq km. Sri Lanka’s coastline is about 1,340 km (about 833 mi) around.

The people in Sri Lanka are warm and friendly. Sri Lankans are known for hospitality in all over the world. People in Sri Lanka ethnically fall into four main categories. The population of Sri Lanka is about 20 million. Sri Lanka has a tropical climate. Sri Lanka has a democratic government. Sri Lanka is mainly an agricultural country. Colombo is the commercial capital of Sri Lanka. Sri Lanka gained independence in 1948. Sri Lanka was known as Ceylon.

In the nineteenth and twentieth centuries, Sri Lanka became a plantation economy, famous for its production and export of cinnamon, rubber and Ceylon tea, which remains a trademark national export. By 1996 plantation crops made up only 20% of export, and further declined to 16.8% in 2005 (compared with 93% in 1970), while textiles and garments have reached 63%. The GDP grew at an average annual rate of 5.5% during the early 1990s, until a drought and a deteriorating security situation lowered growth to 3.8% in 1996. The economy rebounded in 1997-2000, with average growth of 5.3%.

Sri Lanka, with an income per head of $1,350, still lags behind some of its neighbors including Maldives and Mauritius but is ahead of its giant neighbor India. Its economy grew by an average of 5% during the 1990s during the 'War for Peace' era. According to the Sri Lankan central bank statistics, the economy was estimated to have grown by 7% last year, although inflation had reached 20%.

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