Category: Daily Financial Times

Sri Lanka’s para athletes successfully participated in the World Para Athletics Championships 2025 held in New Delhi, India. Despite constraints in training facilities, they managed to secure two bronze medals and several personal best performances.

The country’s medal tally was led by Pradeep Somasiri, who was awarded the bronze medal in the Men’s T46 1500m. Competing on an international stage, Somasiri adeptly secured third place on the last lap finishing in 3:53:77. His achievement stands as one of the finest middle-distance performances by a Sri Lankan para athlete in recent years, setting a new Asian Para Athletics record.

Nuwan Indika continued the streak of victory by winning bronze in the Men’s T44 Long Jump, reaffirming his position as one of Sri Lanka’s most promising field athletes.

Janani Dhananjana recorded a personal best jump of 5.36m and finished seventh in the Women’s T46 Long Jump. Additionally, her best time was 12:88 sec in the women’s T47 100m heat and had secured 12th place.

Buddika Fernando came in 7th with 6.70m in the Men’s T47 long jump final.

The season’s best distance of 14.07m in the Men’s Shot Put F63 finals was recorded by Palitha Bandara who came in fourth.

Sri Lanka’s para athletes trained with minimal facilities, often without access to proper gym equipment, synthetic tracks, or physiotherapy support. Unlike their able-bodied counterparts, they receive limited funding, sporadic sponsorships, and very few opportunities to train overseas. Many heavily depended on the commitment of their coaches and families.

In recent years, Sri Lanka’s para athletes have won medals at the Asian Para Games, World Championships, and even the Paralympics. As the country looks ahead to the 2026 Asian Para Games in Nagoya 2026 Commonwealth Para Games in Glasgow, 2028 Los Angeles Paralympics, their success at the 2025 World Championships should serve as both a celebration and a call to action.

The National Paralympic Committee (NPC) has been coordinating with a small pool of coaches, but the need for a national strategy is crucial. Investing in modern training centres, rehabilitation programs, and exposure tours would benefit Sri Lankan athletes.

The United Nations Committee on Enforced Disappearances (CED) yesterday raised serious concerns over Sri Lanka’s limited progress in addressing thousands of unresolved disappearance cases, weak accountability mechanisms, and inadequate forensic capacity in investigating mass graves.

In its latest findings released after reviewing Sri Lanka’s implementation of the International Convention for the Protection of All Persons from Enforced Disappearance, the Committee noted that the Office on Missing Persons (OMP) has traced only 23 individuals out of 16,966 registered cases. It said this reflects a ‘high level of impunity’ and a lack of progress in investigating and prosecuting alleged enforced disappearances, including those that occurred during the armed conflict.

The Committee urged the Government to create a comprehensive and updated register of disappeared persons and to strengthen the OMP’s mandate to investigate and ensure accountability in all registered cases. It also called for the inclusion of war crimes and crimes against humanity within domestic legislation and the expedited establishment of an independent Office of the Public Prosecutor.

Expressing concern over the discovery of at least 17 mass graves across the country, the Committee said Sri Lanka’s limited forensic capacity and absence of centralised ante-mortem and post-mortem databases hinder proper investigation. It recommended developing a national genetic database and building forensic capacity across competent authorities to locate, identify, and safeguard human remains, ensuring their dignified return to families.

The Committee’s observations follow its latest session in Geneva, where Sri Lanka’s progress under the Convention was reviewed alongside other State parties.

Sri Lanka and South Africa have renewed their commitment to deepen diplomatic and people-to-people relations, following the presentation of credentials by Sri Lanka’s new High Commissioner to South Africa, Air Chief Marshal (Retd.) Udeni Rajapaksa, to President Cyril Ramaphosa at the Sefako M. Makgatho Presidential Guesthouse in Pretoria.

During the ceremony, Rajapaksa conveyed the greetings of President Anura Kumara Disanayake and referred to the recent discussion between the two leaders held on the sidelines of the UN General Assembly in New York on 23 September.

He reaffirmed the longstanding friendship between the two nations, highlighting their cooperation within the Commonwealth, the Group of 77, and the Indian Ocean Rim Association (IORA). Rajapaksa also briefed President Ramaphosa on Sri Lanka’s efforts to establish a Truth and Reconciliation Commission, inspired by South Africa’s own experience, and expressed appreciation for its continued support.

The High Commissioner noted the strengthening of people-to-people ties, particularly through sports diplomacy, with cricket continuing to play a central role in fostering mutual understanding.

President Ramaphosa extended his greetings to President Disanayake and expressed South Africa’s readiness to further enhance bilateral cooperation.

To mark the occasion, Rajapaksa presented a traditional Sri Lankan ceremonial water vessel (Kendiya) to President Ramaphosa, symbolising purity and goodwill.

A 37-year veteran of the Sri Lanka Air Force, Rajapaksa served as its 19th Commander in 2023 and is affiliated with the Institute of Management of Sri Lanka and the Institution of Engineers of Sri Lanka.

Health Minister Nalinda Jayatissa informed Parliament yesterday that steps are underway to resolve the shortage of dialysis needles after the initially contracted supplier failed to deliver the required type.

Responding to a question raised by Opposition MP Chamara Sampath Dassanayake, the Minister said the supplier appointed to provide the needles had not supplied the specified type needed for dialysis treatments, causing a temporary shortage in hospitals.

He said the Government has now engaged a new supplier and initiated emergency purchases from alternate sources to ensure continuous treatment for kidney patients. Funds have also been allocated to state and provincial hospitals to make local procurements until normal supplies resume.

According to the Minister, the required consignment of dialysis needles is expected to arrive by 12 October, while stocks for major hospitals and regional Medical Supplies Divisions have already been secured.

‘The Medical Supplies Division has opted for local purchasing to address the immediate shortfall after the selected supplier failed to meet specifications,’ Jayatissa said.

Marking a significant advancement in Sri Lanka’s passenger transport sector, the latest premium Zhongtong bus range was recently introduced by its newly appointed local agent, Moveflex Ltd., a fully owned subsidiary of DIMO.

Zhongtong is a familiar name in the Sri Lankan market, having already established a presence in the country over the years. Under DIMO Moveflex’s stewardship, the brand is poised to deliver greater value with stronger sales and after-sales support, powered by the expertise of its parent company DIMO.

Marking a significant milestone in the brand’s local journey, the launch event also featured the ceremonial handover of 17 new Zhongtong buses to customers, underscoring the immediate demand and confidence placed in the new range.

The new Zhongtong range includes models such as the L7, H8, H9, H11, H12 Single Glass, H12 Double Glass, and the New Magnate, with seating capacities ranging from 28 to 51. These models are designed to meet the needs of diverse segments in the country, including tourism operators, intercity passenger transport services, public transport authorities, private city route operators, as well as corporates, universities, and institutions requiring safe and reliable executive-level transport solutions. New models in the pipeline are expected to define public, school, and staff transportation in Sri Lanka.

Strong fuel efficiency and optimised Weichai engines ranging from 205hp to 400hp, combined with aerodynamic exteriors, spacious interiors, and advanced safety features, ensure a product range that is both durable and comfortable while meeting international safety standards.

These new models offer operators significant cost advantages with fuel efficiency improvements of up to 10 to 15% compared to conventional competitors and extended service intervals, reduced downtime, lower maintenance costs, as well as superior return on investment. The design focus includes driver comfort with enhanced visibility, wide entry and exit doors, reverse cameras, and lane-assist options in selected models, while passengers benefit from superior suspension, ergonomic seating, and premium comfort aimed at long-haul satisfaction.

To ensure long-term reliability, DIMO Moveflex is offering robust after-sales support through its close integration with DIMO CAREHUB island-wide infrastructure. Authorised service centres equipped with state-of-the-art facilities will be complemented by mobile service units for on-site assistance. Genuine spare parts will be supplied through a dedicated distribution network, while technical training and driver orientation programs will enhance operational efficiency and fleet safety.

DIMO Group Chief Marketing Officer Dinuk Peiris said: ‘The introduction of Zhongtong’s latest range through DIMO Moveflex is a significant step forward in strengthening Sri Lanka’s passenger transport sector. Customers now have the assurance of a globally recognised brand combined with the trusted backing of DIMO Moveflex and the extensive after-sales capabilities we bring. This synergy ensures operators can look forward to enhanced reliability, efficiency, and long-term value.’

Zhongtong Overseas Marketing Company South Asia Department General Manager Jefferey Chen said: ‘Zhongtong is strongly committed to introducing advanced and fuel-efficient buses that address the evolving needs of Sri Lanka’s transport sector. Our vision goes far beyond simply supplying vehicles – we aim to play a long-term role in building more sustainable, accessible, and future-ready mobility solutions for the country. Our partnership with DIMO Moveflex is a powerful alliance that brings together Zhongtong’s global manufacturing expertise with DIMO Group’s trusted local presence and extensive service network. Together, we will ensure Sri Lankan customers benefit not only from world-class buses, but also from dependable after-sales support and genuine spare parts availability.’

DIMO Moveflex, long recognised in cargo and logistics, has expanded into passenger mobility, leveraging its 3PL expertise and trusted industry reputation to deliver advanced transport solutions backed by proven credibility.

With this introduction, DIMO Moveflex reinforces its ambition to play a leading role in Sri Lanka’s passenger mobility sector by delivering trusted brands and comprehensive support that empower transport operators to meet the demands of a rapidly evolving market.

Sri Lanka GDP growth rate needs to rise above 8% over 10 years to achieve a GDP of $ 200 million and a GDP per capita of $ 9,000 to qualify as an upper middle-class status. A high-income status requires a per capita of $ 13,846 or more. Can Sri Lanka achieve these targets? It is noteworthy that Singapore GDP in 2024 was $ 547.4 billion and per capita $ 90,674.07 while Sri Lanka’s GDP was $ 98.96 billion with a per capita of $ 4,515.57. Singapore’s projected GDP will be $ 900 billion in 10 years with a per capita of $ 130,000. Sri Lanka must decide where it wishes to be in 10 years

Despite some economic progress in Sri Lanka over the years, the fact that the country was declared bankrupt in 2022 negates such achievements from the point of view of sustainability of the country’s economy and shows a structural weakness in economic fundamentals. Excessive borrowings for projects without a proper return on investment assessments, spending far in excess of actual costs for infrastructure projects, operational expenditure in excess of income, accumulating large foreign debts and using some such borrowings especially International Sovereign Bonds for consumption rather than for specific projects with a return on the borrowings in excess of the cost of borrowing, are but some of these structural shortcomings.

Thanks to the often-criticised entry of the IMF, Sri Lanka has been able to instil some financial discipline in economic management and virtually compel the Governments since 2022 to adhere to an economic framework in return for the $ 2.9 billion bailout package negotiated with them. It is well for those who were and still are critical of the IMF to remember that their entry was a result of successive Government’s financial indiscipline and politically influenced monetary policies, and had economic fundamentals been strategic and sustainable, there would not have been a necessity to seek IMF assistance to save the country and assist it to overcome its bankruptcy.

Foreign reserves

Trading Economics (https://tradingeconomics.com/sri-lanka/foreign-exchange-reserves) states that foreign exchange reserves in Sri Lanka were $ 6.107 billion in August 2025 and Singapore’s foreign exchange reserves were SGD 502.02 billion (approximately $ 390 billion) in August 2025 (https://tradingeconomics. com/singapore/foreign-exchange-reserves). The total reserves of Singapore based on publicly available data from Government of Singapore Investment Corporation (GIC), the Government of Singapore owned multinational investment firm Temasek Holdings (Private) Limited, the Monetary Authority of Singapore (MAS), and government’s Central Provident Fund (CPF), are conservatively estimated at S$ 2.5 trillion (2024) (US$ 1.87 trillion). Many analysts believe that the reserves are substantially larger than publicly acknowledged. The Ministry of Finance keeps the full details of the reserves private so as to prevent currency speculation attacks on the Singapore dollar.

Individually, besides the government foreign reserves of $ 390 billion, GIC’s portfolio value was estimated at approximately $ 800 billion as of May 2025 according to the Sovereign Wealth Fund Institute (SWFI), Temasek Holding portfolio S$ 434 billion (US$ 287 billion) as of 31 March 2025. (https://www.temasek.com.sg/en/news-and-resources/news-room/news/2025/temasek-net-portfolio-value-grows-to-record-high-of-434-billion), and as per Wikipedia, CPF managed a portfolio of US$ 463 billion (S$ 594 billion) for 4.2 million account holders.

Sri Lanka’s foreign reserves are woefully inadequate as it can only fund about 2 months of imports to the country. This period will be less when the debt capital and interest payments are considered. Singapore too has a substantial gross external debt, reportedly over S$ 2.4 trillion, but possesses zero net debt because its substantial financial assets-like foreign currency reserves far exceeds its liabilities. Unlike in Sri Lanka, the high gross external debt reflects Singapore’s status as a major global financial hub, attracting large amounts of international deposits and investments, primarily held by private corporations rather than the Government.

If Sri Lanka is to move to a different and higher economic platform, its thinking, meaning people’s thinking, their attitudes, as well as those of politicians and officials, has to change and none should harbour a view that doing the same thing expecting different results, simply will work. While economic data is not easy to find in 1948 when Sri Lanka became independent, Wikipedia reports that in 1960 Sri Lanka’s (then Ceylon) per capita GDP was 152 dollars, Korea 153, Malaysia 280, Thailand 95, Indonesia 62, Philippines 254, Taiwan 149. Singapore’s GDP per capita in 1960 was approximately $ 395 to $ 428 USD. The Monetary Authority of Singapore says that in 1965, when Singapore became an independent nation, its nominal GDP per capita was around US$ 500.

No doubt in 77 years since independence, Sri Lanka has moved along progressively to reach a per capita of $ 4,515.57 by 2024. However, Singapore since its independence in 1965 has moved from $ 500 to $ 90,674.07 in 60 years.

The history, culture, politics, demographics, the geography, the country size, its agriculture and crop diversification and many other factors are vastly different in Sri Lanka and Singapore, and it is perhaps not a fair comparison to make when it comes to the economic status quo of the two countries. However, some fundamental comparisons can and should be made about the basic, logical economic management policies and outcomes irrespective of the differences mentioned earlier. In fact, some of these differences are advantages enjoyed by Sri Lanka over Singapore although the outcomes and returns from these advantages have been very much less than optimal. The population density of the two countries and the land areas illustrate a distinct advantage that Sri Lanka has, and not capitalised, and how Singapore has used less to make more within these two challenging realities.

Singapore’s population density is approximately 8,387 people per square kilometres (or 21,722 people per square mile) as of mid-2025, making it one of the most densely populated countries in the world. This high density is a result of careful long-term planning to manage land scarcity in the city-state of 700 square kilometres. Sri Lanka’s population density is approximately 370 people per square kilometres (959 people per square mile) as of 2025. This density is based on a total land area of 62,710 square kilometres.

Future economic trajectory for Sri Lanka

While GDP and GDP per capita are arguably not the best measures to judge a country’s economic health, they are the measures used globally to do so at present. Some argue that these measures represent the thinking of international institutions like the World Bank and IMF, and that they represent the viewpoint of Western economies led by the USA.

Joseph E. Stiglitz, a Nobel laureate in economics and University Professor at Columbia University, former chief economist of the World Bank (1997-2000), former chair of the US President’s Council of Economic Advisers, former co-chair of the High-Level Commission on Carbon Prices, and lead author of the 1995 IPCC Climate Assessment and Co-Chair of the Independent Commission for the Reform of International Corporate Taxation and the author, most recently, of The Road to Freedom: Economics and the Good Society (W. W. Norton and Company, Allen Lane, 2024) says in an article published in the Scientific American ‘GDP measures everything,’ as Senator Robert Kennedy once said, ‘except that which makes life worthwhile.’

The number does not measure health, education, equality of opportunity, the state of the environment or many other indicators of the quality of life. It does not even measure crucial aspects of the economy such as its sustainability: whether it is headed for a crash’. (https://www.scientificamerican.com/article/gdp-is-the-wrong-tool-for-measuring-what-matters/). Readers are referred to an article written by this writer titled GDP and GDP growth: Are they measures that really matter? (https://www.ft.lk/opinion/GDP-and-GDP-growth-Are-they-measures-that-really-matter/14-774796), to get a brief idea about statistics on a range of underlying disparities, inequalities and inequities amongst its people despite ‘developments’ visible to the naked eye.

However, at the end of the day, there are some fundamentals to consider irrespective of arguments for or against the contention that GDP alone being a measure of the economic health of a country. Amongst some of them are affordability by the entire population of a quality, modern universal healthcare, a good education system, that widens and deepens knowledge and prepares the younger generation to be more self-reliant, technological advancements including Artificial Intelligence and access to them, efficient and affordable transportation, quality housing for all, food security, absence of poverty and malnutrition, and ability for all to live in a free and non-violent, equal and equitable society. Clearly achieving some of these ideals need substantial amounts of monetary investments and therefore strategic, out of the box, economic thinking, policies and effective and efficient economic management becomes paramount.

While Sri Lanka has achieved a high standard in many areas such in education and health in particular, its overall economic management has not been satisfactory and in fact, if the country and all its people are to achieve a higher, sustainable quality of life, the entire country, not just its politicians, need to move towards a substantial paradigm shift in economic thinking. Sri Lanka rising to a higher economic platform in effect means a rise in GDP, and in 10 years it will depend on its economic growth rate between 2025 and 2035.

The GDP growth forecast for 2025 is 3-4%, and for 2026 is around 5%. With a starting point of $ 99 billion GDP in 2024, and assuming a sustained growth rate of around 4%, Sri Lanka’s GDP would be approximately $ 147 billion in 2035 and a per capita of $ 6300.00.

The question has to be asked whether this is sufficient for people to enjoy a better-quality of life and whether it is sufficient to renew confidence in the country amongst its current and future generations.

If one were to consider the current per capita GDP of $ 97,604.00 in Singapore, and if Sri Lanka is to achieve at least half of it ($ 45,000), Sri Lanka’s GDP would need to be approximately $ 990 billion This would require a tenfold increase from the 2024 GDP of $ 99 billion to achieve the desired per capita figure. Achieving such a figure would seem an impossibility based on where the country is placed now. However, the policy makers and the people should at least target to achieve the World Banks’s classification of a higher income country, which is a per capita in excess of $ 13,846, which is a tripling the country’s current per capita of $ 4,515.00. This would require an increase in GDP to approximately $ 300 billion from the current $ 99 billion.

The current trajectory of predicted GDP growth around 4-5% is not sufficient to give the people in the country anywhere near what is required to provide the economic and social ideals mentioned earlier. Whilst the Government has outlined plans to increase exports, earnings from tourism, and foreign investments, all of which are very commendable, this article wishes to suggest that a more dramatic paradigm shift is needed in economic thinking, strategy and management if the country is to move towards a high-income country. A few key areas are mentioned for purpose of discussion

Industrialisation and agriculture – Focussed on food security and exports

Value adding industrialisation for local consumption but more importantly for exports.

Further development of the fisheries industry, for local consumption and exports

Moving from traditional approaches relating to the tea, coconut and rubber industry and venturing into research based higher yields using less land, maximisation of water resources and replacing unproductive plantations with alternate crops,

Intercropping where two or more crops simultaneously in the same field to improve land use, increase yields, reduce risk, and enhance biodiversity. Coconut plantations are a good example where intercropping could be done with coffee, cocoa and other suitable crops between coconut trees.

Finance – Increased investments and foreign reserves

Increase foreign reserves by providing incentives to exporters and those remitting foreign exchange by buying the foreign exchange from them at a higher premium over normal bank interest rates.

Creating a government owned foreign reserve management entity (for a component of the government foreign reserves) on the lines of entities in Singapore, enabling it to invest in select fund management entities.

Creating a National Investment Bank with private sector equity participation and dedicated exclusively to engage in investments both locally and overseas

Private sector – Greater role for the private sector as the engine of growth

Consideration given to creating an exclusive ministry headed by a high-level cabinet minister to plan and promote growth of a sustainable private enterprise in the country.

Community Service Responsibility activity – providing tax benefits to companies engaging in priority projects of the government with a view to achieving long term sustainability of such projects.

Transforming diplomatic services to be commercially oriented to attract investments and promote exports

Appoint commercially astute diplomats (High Commissioners, Ambassadors) to key overseas postings to coordinate investment interests amongst potential investors, both citizens of the respective countries as well as amongst Sri Lankan expatriates in such countries.

Conclusion

Sri Lanka has to develop its economy in order to provide a fair, equitable, healthy, knowledgeable and dignified lifestyle for its citizens and its future generations. It needs to provide enough opportunities to them and foster their confidence in the country. While the country’s long history and its rich colourful culture are important in shaping the identity of the country, it also needs to think of the future and how it will provide a safe, secure and healthy environment for its people in a sustainable manner. Sri Lanka does not have to emulate any other country as the uniqueness of Sri Lanka in terms of its natural beauty, history and culture provides an enviable environment for it to grow its economy to provide a more quality future for its people. However, it needs resources, both financial and capable human resources to provide a future for its emerging generations. The country has to earn more, save more and equip itself more to provide the outcomes that are desired. Its thinking therefore has to be futuristic and strategic and not confined to yesterday’s glory days. Economic policies have to look towards the future and not be focussed on the past.

The Embassy of Sri Lanka in Berlin, in collaboration with the Sri Lanka Tourism Promotion Bureau (SLTPB), hosted a tourism promotional event in Cologne, Germany on 27 September 2025.

The event was part of Sri Lanka’s ongoing efforts to promote the island nation as a premier travel destination among German and European tourists. Cologne is the fourth-most populous city of Germany and the largest city of the German state of North Rhine-Westphalia.

The event was held in conjunction with the celebration for World Tourism Day 2025 and forms part of Sri Lanka’s continued efforts to increase its visibility in German market which is one of Sri Lanka’s top source countries for inbound tourism. In a bid to bring Sri Lanka’s tourism attractions to a wider audience including families, the promotional event was held at the Neumarkt Galerie, a prominent shopping arcade in the heart of Cologne. Visitors to the event experienced captivating traditional Sri Lankan dance performances that brought alive the rhythms and colours of Sri Lanka in Cologne.

Visitors could also savour a selection of authentic Sri Lankan sweetmeats, offering a taste of the island’s rich culinary heritage. The visitors were also offered information on Sri Lanka’s diverse tourism offerings, including pristine beaches, cooler hilly regions, ancient heritage sites and wildlife. Adding a digital twist to the festivities, the event also featured an Instagram Post Competition where the visitors were encouraged to share their best moments from the event on Instagram using a dedicated hashtag. The winner of the competition received a complimentary return air ticket from Cologne to Colombo sponsored by Turkish Airlines.

Germany is traditionally the 4th largest tourist source market for Sri Lanka. In 2025, at the end of August, approximately 100,000 German travellers have visited Sri Lanka. The promotion in Cologne was the 3rd in a series of consumer promotions targeting the German speaking markets organised by the Embassy of Sri Lanka in Berlin, in collaboration with the SLTPB. Previous consumer promotions for the German speaking markets were held in Berlin and Zurich. Country consumer promotions allow for direct engagement with the potential travellers inspiring them to discover Sri Lanka. In addition to engaging with thousands of consumers on-site, consumer promotions can create visibility across German travel media and German-speaking platforms, amplifying Sri Lanka’s presence in these key markets.

President Anura Kumara Disanayake yesterday said that the International Monetary Fund (IMF) remains a vital partner in Sri Lanka’s accelerated journey from crisis to recovery, and that the Government regards its support not merely as external assistance, but as an integral element of its comprehensive strategy for sustainable economic progress.

This is according to statement issued by the President’s Media Division yesterday.

Speaking at the fifth mid-point review meeting yesterday at the Presidential Secretariat with an IMF delegation, the President said that the Government’s reform agenda focused on long-term stability, inclusive growth, and investor confidence.

The sixth tranche of the IMF Extended Fund Facility is scheduled for release in December.

During the discussions, the IMF delegation commended Sri Lanka’s reform progress, noting that the country’s economic reform program is yielding commendable outcomes. They highlighted that reforms were bearing fruit, with economic growth outperforming expectations, foreign reserves strengthening, and fiscal revenues improving.

The IMF further observed that sustaining reform momentum is critical to safeguarding macroeconomic stability, consolidating recovery, and building resilience against global uncertainties, including trade policy shifts and geopolitical tensions.

President Disanayake noted that attracting investments plays a decisive role in the Government’s economic expansion drive, particularly in driving rural development and creating employment opportunities.

He said that while the IMF’s continued support has been instrumental in restoring confidence and stability, ensuring robust infrastructure and a conducive investment environment was vital for sustaining growth.

The President also said that to maintain the Government’s projected growth targets, it was imperative for Sri Lanka to exceed the targets set by the IMF, which requires a strong inflow of foreign direct investments (FDIs). He stated that achieving this will demand continued fiscal discipline, policy consistency, and strategic facilitation of investment opportunities across key sectors.

Reaffirming Sri Lanka’s commitment to reform and recovery, President Disanayake told the IMF delegation that his Government was determined to build a resilient, investment-driven economy that ensures inclusive national development. He noted that the IMF remains a key strategic partner in Sri Lanka’s ongoing journey toward financial stability, economic resilience, and sustainable growth.

The IMF delegation was led by Mission Chief Evan Papageorgiou, Sri Lanka Resident Representative Martha Woldemichael, and IMF officials Sandesh Dhungana, Ursula Wiriadinata, Dinar Prihardini, Samson Kwalingana, Ozlem Aydin, Danilo Palermo, and Manavee Abeyawickrama.

The International Tourism Leaders’ Summit 2025 took place this week at BMICH in Colombo, bringing together key industry leaders, policymakers, academics, and global partners to mark World Tourism Day under United Nations World Tourism Organisation’s (UNWTO) theme of ‘Tourism and Sustainable Transformation.’ President and Finance Minister Anura Kumara Dissanayake also attended the summit, which was seen as a strong endorsement of the tourism sector’s role in shaping the country’s economy and future.

Alumni Association of Tourism Economics and Hospitality Management (AATEHM) President Nihal Muhandiram said that the gathering had brought together all stakeholders of the tourism sector on World Tourism Day. He said that Sri Lanka is well placed to be a leading destination with all the resources it already has. He added that Colombo should become the leading travel mart in South Asia, noting that the Colombo Travel Mart had been organised with that aim. ‘Several other programs including a career and job fair were held to create opportunities for young people and professionals. People want better prospects and tourism can provide them. We must keep working towards this collective goal with the support of everyone,’ he said.

University of Colombo Prof. Suranga Silva said that the summit was more than a conference. He said that the involvement of all stakeholders showed the direction in which the sector was moving. He explained that young people must be inspired to see tourism as an industry they love and want to work in. ‘Knowledge must be continuously renewed. That is why we organised programs such as research symposiums and school tourism club competitions. Tourism has supported the country at all difficult times including the Covid-19 pandemic, and future challenges must be faced with knowledge, skills, and data-driven strategies. It’s very important that the academia and industry work together to develop the sector.’

University of Colombo Vice Chancellor Prof. Indika Mahesh Karunathilake, spoke of the need for a long-term plan for tourism. He said that this required close cooperation between the Government, private companies, and local communities. He also said that the younger generation including university students must see tourism as a career that offers stability and growth, which can only be achieved if the industry evolves with global standards.

As part of the day’s events, the countries that send the highest numbers of tourists to Sri Lanka were recognised in their own languages. These included India, the United Kingdom, Russia, Germany, China, France, Australia, the Netherlands, the United States, Bangladesh, Italy, and Canada.

A panel discussion followed with the participation of Independent Commercial Aviation Consultant and former SriLankan-Emirates Airlines CEO Peter Hill, Sri Lanka Tourism Development Authority (SLTDA) Chairman Buddhika Hewawasam, Shangri-La Group Kieran Twomey, and travel consultant Miguel Cunat. The session was moderated by John Keells Group Dileep Mudadeniya. The discussion focused on connectivity, destination competitiveness, infrastructure, and strategies to increase tourist arrivals and spending.

One of the key moments of the summit was the launch of the Ruhunu Ring, a private sector-led initiative designed to transform the southern tourism landscape. Branded under the theme ‘Culturally Wild,’ the 300-kilometre circle links together Yala and Udawalawe National Parks, Sinharaja Rainforest, Arugam Bay, Mirissa, Galle Fort, and Kataragama. The project aims to encourage tourists to explore beyond traditional sites and spend more within local communities. Tourism advocate Yasas Hewage explained that the Ruhunu Ring is the first of five circuits, with plans already in place for the Wildlife Ring, Culinary Ring, Adventure and Sports Ring, and a Northern Ring. An official website for the Ruhunu Ring was also launched during the event.

The magazine Vision to Voice was launched as part of the summit, aimed at sharing ideas and perspectives within the tourism community.

Foreign Affairs, Tourism, and Foreign Employment Minister Vijitha Herath said that Sri Lanka must ensure that tourism is developed as an industry that benefits everyone. He said that opportunities must reach communities in every province, not only those in well-known tourist areas. He noted that when tourism grows in a way that includes small businesses, artisans, and local service providers, it brings more stability to the entire sector. ‘Tourism must also create a pathway for young people to build meaningful careers at home rather than looking overseas. Training and education must go hand in hand with expansion. Tourism is not only about foreign exchange but also about preserving culture and the environment. I urge all stakeholders to work together to build an industry that is strong, sustainable, and fair.’

Tourism Deputy Minister, Prof. Ruwan Ranasinghe said that tourism faces many challenges globally, but Sri Lanka continues to shine on the international stage. ‘This October, Sri Lanka was named the world’s best travel destination, adding to a series of recognitions and accolades the country has received from various international agencies. These acknowledgments show that we are moving in the right direction, and tourism has the potential to become a true turning point for Sri Lanka’s economy. At the same time, we cannot ignore the challenges. A key issue is capacity at Bandaranaike International Airport in Katunayake. It was originally designed to handle six million passengers annually, yet today it serves around ten million. The long-delayed expansion has put real strain on infrastructure. Another important area is branding. Sri Lanka needs a strong, globally recognised branding campaign to position itself competitively in the world tourism market.’

Lifetime achievement awards were presented to Prof. Suranga Silva and veteran tourism professional Chandra Wickramasinghe in recognition of their contributions to the sector.

The President awarded trophies and certificates to the winners of the All-Sri Lanka School Tourism Club competitions.

The International Tourism Leaders’ Summit was the concluding event of Sri Lanka’s program to mark World Tourism Day 2025. The program included provincial-level school competitions, industry exhibitions, and the International Tourism Research Conference. It was one of the most wide-ranging tourism events held in recent years and brought together students, professionals, policymakers, and international partners to shape the future of the sector. The series of events was jointly organised by the Tourism Ministry, SLITHM, the Sri Lanka Tourism Development Authority (SLTDA), the Tourist Hotels Association of Sri Lanka (THASL), and the Sri Lanka Association of Inbound Tour Operators (SLAITO), with support from the Alumni Association of Tourism Economics and Hospitality Management (AATEHM) and the Sustainable Tourism Unit of the University of Colombo.

The Commission to Investigate Allegations of Bribery or Corruption (CIABOC) yesterday launched a new digital Case Tracking System aimed at improving transparency, efficiency, and accountability.

CIABOC Chairman Justice Neil Iddawala described the new platform as ‘a transformative step’ that goes beyond a mere technological upgrade. He said the system represents a major shift in how the Commission manages and processes information, records, and case files central to its work.

‘Corruption thrives where there is opacity, delay, and inefficiency. Transparency and accountability are the strongest deterrents,’ Justice Iddawala said, calling the new system ‘an instrument of reform’ that will strengthen public trust.

The Case Tracking System integrates automation and centralised digital recordkeeping to improve accuracy, enable real-time case monitoring, and streamline workflows. It also introduces data-driven decision-making tools to enhance institutional performance.

The project was implemented with financial assistance from the Government of Japan and technical support from the UNDP. Addressing CIABOC staff, Justice Iddawala encouraged officers to embrace the new system, noting that it empowers them to work with greater precision and professionalism. ‘Each keystroke is a contribution to CIABOC’s mission-to build a cleaner, fairer, and more transparent society,’ he said.

The launch aligns CIABOC’s operations with international best practices and Sri Lanka’s commitments under the United Nations Convention Against Corruption (UNCAC).