Thoughts about “People and Events”

The start of the People and Events column in the Sunday Island was incidental, informal and fortuitous. At a Kandy Girls’ High School OGA dinner dance in the late 1990s I was at the same table with Gamini Weerakoon, then editor of the Island/Sunday Island and his wife Rajitha, a past pupil of KHS. Gamini and I were non-dancers so over drinks, and in spite of the loud music, we chatted. Suddenly Gamini said: “Why don’t you write a weekly column in The Island?” Being modest, I asked him whether he was sure but then consented readily. He asked me what title I would give the column, I promptly replied: “People and Events.” Later on, I realized how judicious I had been in my spontaneous choice. This title gave me a wide spectrum within which to write.

I selected the first three letters of my first name as my pseudonym for the column. Writing pseudonymously was not a tactic to hide, but it was because I was initially shy and a little hesitant. Later of course, when I commented adversely on political situations in the country at certain periods of time, it was a useful cover, or so I presumed.

I found Gamini easy going as an editor and it was not taxing to write for him. He was undemanding and published every column I sent. Manik de Silva succeeded Gamini as the editor of the Sunday Island in 1997 and I sat up straighter. The first article he received from me was my tribute to Bhikkhuni Ayya Khema, which he said was very well written. He always appreciated the human-interest articles I wrote. A few years later he also told me in his usual polite manner: “your forte is not political matters.” I accepted his subtle admonition and tried to refrain from commenting on how things were in the country on account of politicians. I am very grateful to Manik for his support of me over the years. From being my editor he has gone on to become a sincere friend.

I have been writing People and Events for over 30 years now and over this period of time I believe I have written well over 1,000 columns. Initially I would type my article and give the pages for someone to deliver. After I got a computer, the process became more streamlined and I would e-mail the finished article to Manik. Even when I traveled overseas for long or short stays, I kept my column going. My second son would take me to his office after hours and I would work on it there and send it from the US. Wednesdays were always a focal point for me, as I would aim to have my column completed by then.

There is a personal element to what I write; I comment, opine and judge. Often I have selected the topic for my article based on some connection, like visiting a place or reading about something and having my interest aroused. I do have a slant towards women in any sphere of activity or life. I have written about people, many consequent to actually interviewing them. Attending book launches and award ceremonies have been grist to my writing wrist. So also books I have read, Sinhala films and theatre productions I have seen, which I have then reviewed.

Interviewing people for this column meant that I got to talk to people that I wouldn’t have dreamed of meeting. Among the most memorable are:

= Jayanthi Kuru-Utumpala – the first Sri Lankan to summit Mount Everest;

= Barbara Sansoni – artist and designer whose unique approach to colour was eye-opening;

= Ishvari Corea, distinguished librarian and author;

= Actor Gagan Malik who played the role of Siddartha Gautama in the film produced by Navin Gooneratne.

In 2008 I received the W.A. Siriwardena award for Columnist of the Year writing in English from the Sri Lanka Press Institute. My memory of the awards ceremony at the Mount Lavinia Hotel was that I unwisely drank two glasses of wine to quench my thirst, and was quite shaky walking down the steps and had to hand my trophy to my older son to carry for me!

During the Covid-19 lockdowns in 2020, I decided to go through the articles I written and select what I felt were timeless for publication. In the end I narrowed it down to 45 articles and published a book titled “People, Events, Places” in 2022.

I get pleasure from writing and I am a fast writer. It is also a sort of meditation for me since I am completely within my thinking, creating mind when I write. However, after my recent illness I stopped writing and I very much miss being able to sit in front of my computer and type up an article – this was one of my greatest pleasures. It has become an entirely different process now to dictate my column and then review it and make changes.

I am pleased when people telephone or e-mail me to say they approved of my article of the week, or better when they say they enjoyed reading it. Alternatively, I am not at all perturbed when criticized, which happens occasionally. Criticism is what I value more than praise since I know there is improvement possible.

Writing this column has brought me much fulfillment and joy. It gave me a sense of purpose. My readers are usually non-critical, and appreciative of what I write, inquiring after me when a column fails to appear in the paper. Certain readers, even from overseas, have reached out to me to comment on a column and we have become friends as a result. I am so very grateful to all of you for reading “People and Events” over all these years!

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Donald Trump health rumours denied by White House amid hospital speculation

White House officials have dismissed online speculation that President Donald Trump is receiving treatment at Walter Reed Military Medical Center

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Kodituwakku’s early burst keeps Royal on top

Paceman Mahiru Kodituwakku struck early to put Mahanama under pressure as Royal continued to press for the first innings advantage on day two of their Under 19 Division I Tier ‘A’ quarter-final at the D.H.H. Ground, Madampella on Friday.

‎Replying to Royal’s first innings total of 319, Mahanama were struggling at 244 for nine wickets at stumps, still short of the target. Eshan Withanage held the lower order together with a fighting unbeaten 46 to keep their hopes alive heading into the third day.

‎Kodituwakku dealt a severe early blow to Mahanama’s innings, claiming three wickets during an impressive opening spell. Among his victims was Sri Lanka Under-19 player Dulnith Sigera, who was dismissed without scoring.

‎However, Royal were unable to fully capitalise on Kodituwakku’s fine bowling effort as several dropped catches off his bowling allowed Mahanama to recover and build partnerships.

‎Sithum Vihanga led the resistance with a solid 70, while Sanul Weerarathne contributed 37 and Chamika Heenatigala added 32 to help Mahanama remain competitive.

‎Spinner Himaru Deshan supported the pace attack with three wickets, while Ramiru Perera chipped in with two scalps to keep Royal in a strong position at the close.

‎Earlier, Royal posted 319 in their first innings with Rehan Peiris top scoring with a superb 146. Thevindu Wewalwala made 57, while Hirun Matheesha (28) and Ramiru Perera (27) provided useful contributions. Venura Kaveethra starred with the ball for Mahanama, claiming five wickets.

‎Scores

‎Royal 319 all out in 87.2 overs

‎(Rehan Peiris 146, Thevindu Wewalwala 57, Hirun Matheesha 28, Ramiru Perera 27; Venura Kaveethra 5/86, Chamika Heenatigala 2/80)

‎Mahanama 244 for 9 in 80 overs

‎(Sithum Vihanga 70, Eshan Withanage 46 n.o., Sanul Weerarathne 37, Chamika Heenatigala 32; Mahiru Kodituwakku 3/49, Himaru Deshan 3/87) (RF)

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Heat Index at Caution Level in the Western, Sabaragamuwa, Southern, Eastern, North-western, Northern and North-central provinces and in Monaragala district

Warm Weather Advisory
Issued by the Natural Hazards Early Warning Centre
Issued at 3.30 p.m. on 03 April 2026, valid for 04 April 2026.

The Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in the Western, Sabaragamuwa, Southern, Eastern, North-western, Northern and North-central provinces and in Monaragala district.

The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.

Effect of the heat index on human body is mentioned in the above table and it is prepared on the advice of the Ministry of Health and Indigenous Medical Services.

ACTION REQUIRED
Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated.
Dress: Wear lightweight and white or light-colored clothing.

Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.

 

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Hidden truth of Sri Lanka’s debt story: The untold narrative behind the report

This article presents a quantitative and critical analysis of the volume, composition, and utilization of public debt in Sri Lanka during the period 2024–2026. In general discourse, attention is primarily focused on the size of debt alone. However, this article reveals a broader economic reality by examining the interconnections among debt sources, patterns of utilisation, and repayment capacity.

In particular, when factors such as high debt-to-national-income ratios, limited revenue-generating capacity, and a heavy reliance on recurrent expenditure are considered together, Sri Lanka’s debt problem appears not merely as a numerical issue, but as the outcome of a systemic imbalance. Furthermore, the article highlights that external factors—such as geopolitical instability in the Middle East—are likely to further intensify these challenges.

1. Introduction

During the period from September 2024 to March 2026, a multi-layered discourse has emerged regarding the volume of debt obtained by the Government of Sri Lanka and the manner in which it has been utilised. Within these discussions, particular attention has been given to the increase in debt levels. While this is a valid and necessary concern, it is essential not to accept the issue at face value, but rather to analyze it critically within a broader economic context.

The primary focus should not be limited to the narrow question of “how much debt has the government borrowed?” but should instead extend to a broader set of questions: “from where has this debt been obtained, for what purposes has it been used, and what is the country’s capacity to repay it?” In other words, a complete and accurate understanding of the economic picture can only be achieved by analysing the interconnections among debt volume, utilization, and revenue-generating capacity.

Within this context, it is estimated that by the end of 2023, Sri Lanka’s total public debt stood between LKR 27–30 trillion (Central Bank of Sri Lanka, 2023; IMF, 2024). At the same time, the debt-to-GDP ratio is observed to be in the range of 110%–128%, while the burden of debt servicing relative to government revenue remains at a high level of approximately 60%–70%. In addition, the revenue-to-GDP ratio stands at only around 8%–10%, which is considered a structural fiscal weakness (World Bank, 2023).

Against this backdrop, it becomes evident that during the period 2024–2026, Sri Lanka is not on a path of deleveraging, but rather in a transitional phase centered on debt restructuring and economic stabilisation. Therefore, this article seeks to provide a deeper and more comprehensive understanding by analyzing not only the size of debt, but also its utilisation, structure, and policy implications.

2. Total Public Debt as at End-2023

As at the end of 2023, Sri Lanka’s total public debt is estimated to be between LKR 27–30 trillion. The debt-to-GDP ratio exceeds the commonly accepted safe threshold of 70% and remains within the range of 110%–128% (CBSL, 2023; IMF, 2024). In addition, the burden of debt servicing relative to government revenue is at a very high level, in some instances reaching approximately 60%–70% of revenue. At the same time, government revenue as a percentage of GDP stands at only around 8%–10%, which is below the required level for emerging economies.

When these indicators are considered together, a clear imbalance emerges between the rising debt burden and the country’s limited revenue-generating capacity.

Furthermore, the composition of debt and external economic linkages intensify this vulnerability. It is estimated that approximately 40%–45% of total debt is external, making the country highly sensitive to exchange rate fluctuations. Moreover, imports account for around 25%–35% of GDP, while exports remain at only about 20%–22%, resulting in a trade deficit and increasing the demand for foreign exchange (World Bank, 2023).

Consequently, external debt repayments depend heavily on export earnings and foreign employment income. Under these conditions, new borrowing often appears to be used for servicing existing debt, thereby creating a debt cycle that does not contribute to long-term economic growth.

Therefore, Sri Lanka’s debt problem should not be understood merely as a numerical issue, but rather as a manifestation of a deep structural imbalance among revenue capacity, economic structure, and patterns of debt utilisation.

3. Debt Situation During the 2024–2026 Period

An analysis of Sri Lanka’s debt utilisation patterns during the period 2024–2026 clearly indicates that new borrowing has been used primarily not to generate economic growth, but to manage existing debt and support short-term stabilisation.

Under the International Monetary Fund program, a significant portion of the funds obtained has been directed toward debt servicing, interest payments, and requirements related to debt restructuring (IMF, 2024). In addition, based on the composition of government expenditure, a high proportion is allocated to recurrent expenditure, while capital expenditure remains relatively limited. Typically, nearly 70% of total government expenditure is directed toward recurrent expenditure, while capital expenditure accounts for around 20%–30% (CBSL, 2023).

This pattern of utilisation demonstrates that borrowing is being used to sustain existing fiscal pressures rather than to enhance revenue-generating capacity. In particular, the use of new borrowing to repay existing debt (debt rollover) further reinforces a debt cycle, thereby constraining long-term economic growth. Moreover, the import-dependent economic structure and shortages in foreign exchange further reduce the efficiency of debt utilisation.

Accordingly, during the period 2024–2026, Sri Lanka’s borrowing can be characterized not as growth-oriented borrowing, but rather as survival-oriented borrowing. This clearly represents a significant challenge to long-term economic stability.

4. Future Challenges

An analysis of Sri Lanka’s current economic condition clearly indicates that the country has not yet fully emerged from the crisis. It is not in a phase of debt reduction, but rather has entered a stage of debt restructuring and stabilisation. Total public debt remains at a high level, and a debt-to-GDP ratio exceeding 100% raises serious concerns regarding debt sustainability.

Although debt restructuring has been implemented under the International Monetary Fund program, it primarily serves as a short-term relief measure, and a comprehensive long-term solution has yet to be achieved. Furthermore, the fact that new borrowing is largely used for debt rollovers and short-term economic stabilization indicates that the country remains in a debt stabilisation stage.

Moreover, the current pattern of debt utilization and the overall economic structure further deepen future challenges. A significant portion of borrowed funds is directed toward servicing existing debt, financing recurrent government expenditure, and maintaining short-term stability, thereby limiting productive investment. At the same time, despite efforts to increase government revenue, the high burden of debt servicing and expenditure levels constrain fiscal space.

In terms of foreign exchange, reliance on export earnings and foreign employment income, combined with an import-dependent economic structure, continues to expose the country to external economic risks.

Within this context, ongoing geopolitical instability in the Middle East represents an additional source of pressure for an import-dependent economy such as Sri Lanka. In particular, volatility in fuel prices, security risks along key maritime routes, and potential impacts on foreign employment income could weaken the country’s foreign exchange position and overall economic stabilisation process.

In effect, the interaction between internal economic imbalances and external instability creates a condition of double vulnerability for Sri Lanka.

Despite positive signals such as declining inflation, exchange rate stabilization, and support from the International Monetary Fund, economic growth remains weak, private investment is low, and cost-of-living pressures persist. These conditions confirm that significant and complex policy challenges lie ahead.

The interaction of internal imbalances and external instability creates a condition of double vulnerability for Sri Lanka.

5. Conclusion Remarks

This analysis demonstrates that Sri Lanka’s current debt situation is not merely a numerical issue, but the outcome of a deep systemic imbalance among economic structure, public financial management, and policy decisions. During the period 2024–2026, the country is not on a path of debt reduction, but rather in a stabilisation phase based on debt management and restructuring.

New borrowing is largely used not to generate economic growth, but to manage existing fiscal pressures. This further intensifies the imbalance between the quality of debt utilisation and the country’s revenue-generating capacity.

However, when one reads between the lines of these figures and reports, many unspoken realities become evident. Decisions related to borrowing and its utilisation are closely linked to policy priorities, political objectives, and the quality of governance. Therefore, analysing numbers alone is insufficient; it is essential to critically examine the decisions, priorities, and responsibilities that lie behind them.

Accordingly, moving forward requires not only controlling the volume of debt, but also transforming the manner in which it is utilised and the policy decision-making framework that underpins it. Only through productive investment, revenue growth, and strong public financial management can Sri Lanka transition from a debt-dependent economy to one characterised by stable and sustainable long-term growth.

In conclusion, Sri Lanka’s debt narrative is not merely a story of numbers—it is a comprehensive reflection of the country’s economic decisions, patterns of utilisation, and often unspoken priorities.

References

Central Bank of Sri Lanka (CBSL) (2023) Annual Report 2023. Colombo: Central Bank of Sri Lanka.

International Monetary Fund (IMF) (2024) Sri Lanka: Debt Sustainability Analysis and Program Review. Washington, DC: IMF.

Ministry of Finance (2026) Sri Lanka Government Debt Report: September 2024 – March 2026. Colombo: Ministry of Finance, Sri Lanka.

World Bank (2023) Sri Lanka Development Update: Restoring Stability and Growth. Washington, DC: World Bank.

International Energy Agency (IEA) (2023) Sri Lanka Energy Profile. Paris: IEA.

by Professor Ranjith Bandara

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Army Chief of Staff Randy George asked to 'retire immediately' amid Iran war

General Randy George is retiring immediately as the 41st Chief of Staff of the Army amid the Iran war, with the Pentagon announcing his departure

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Russian Federation ‘deeply considering’ supplying SL’s energy needs

The Russian Federation is deeply considering supplying energy/fuel to Sri Lanka to prevent an energy crisis due to the escalating Middle East war, Russian Deputy Foreign Minister Andrey Rudenko said.

‘We are very much keen to support Sri Lanka and provide fuel/energy to Sri Lanka. This is still under consideration but it would be a positive response from our side, Rudenko said at a media forum yesterday in Colombo. The forum was organised by Pathfinder Foundation Sri Lanka and held at Colombo Club, Taj Samudra Hotel.

Rudenko who made a brief official visit to Sri Lanka said that the Middle East conflict is quite serious and that most Asian countries, including Sri Lanka, are affected by it in areas such as transportation, energy/ fuel and food security. ‘The supply chains related to these sectors have been disrupted for many countries. The escalating war situation in Iran and the Gulf region will affect most economies of the world, he said.

The Deputy Minister said that Russia is still not affected by the crisis but it could be impacted if the war continues for sometime.

‘We will be looking for a convenient payment method for Sri Lankan, when it comes to trade and investments in the future, Rudenko added.

Responding to questions Rudenko said that at present the United Nations is not doing anything to put a full stop to the war and a need of the hour is to strengthen the United Nations to change the world order.

By Hiran H Senewiratne

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