Claiming that Sri Lanka has come a long way in terms of undertaking reforms which have led to some hard won gains, the International Monetary Fund (IMF)said they could move fast towards the third review which will come up soon.

IMF Director of the Asia and Pacific Department Krishna Srinivasan told a special briefing that there is consensus that the new government would like to safeguard and build on the hard won gains under the program.

"We had some very, very productive discussions with the new government and the team there. And the discussions are continuing this week during the Annual Meetings. Now, there was broad consensus, I would say unanimous consensus, that Sri Lanka, which was tearing at the abyss in 2022, has come a long way in terms of undertaking reforms which have led to some hard won gains. You'll note that growth has been positive in the last four quarters. Inflation is coming down. So there is consensus that the new government would like to safeguard and build on the hard won gains under the program," he said.

He said , under the program, the IMF have elements which address some of the priorities of the new government, including in terms of social protection and so on.

"But the details on the program are continuing and they'll be happening this week in Washington. And we are encouraged by what we have heard so far and hoping that, we can move fast towards the third review which will come up soon," he added.

Responding to a question on the debt restructuring, he said Sri Lanka has reached agreements with the official creditors and in principle with the private creditors.

"The next step would be to reach a formal agreement with all creditors. And that's a big step forward. And of course that's not the end. There's a lot more work to be done in terms of continuing with the reforms because a long way to go before you're on the path of strong and sustainable recovery," he said.

"Now there was one question on specific tax measures there. I don't want to go to the detail because those are things being worked out in the context of discussions which are ongoing right now. Hopefully, we will move along these negotiations over the next few weeks in a more targeted way," he said.

For the first time in Sri Lanka, the government is to establish a mechanism to supervise and advice ministries in the implementation of policies, a source said.

A tense situation was reported at the UNP party headquarters in Sirikotha when a group of UNP supporters arrived to hand over a document on reviving the party.

Samagi Jana Balawegaya (SJB) MP Harsha de Silva said today that an NPP MP has told him that the Parliament canteen will not be closed but the government will see that no one will abuse the facility.

Two fishermen were seriously injured and hospitalised after a parcel floating on the sea exploded while they were checking it off the coast of Mannar.

The Disaster Management Centre (DMC) and the Examinations Department have initiated a joint programme to mitigate potential disasters during the 2024 Advanced Level examinations.

President Anura Kumara Dissanayake addressed the inaugural session of the 10th Parliament of Sri Lanka today. Following are 11 key points from the President’s Government Policy Statement;

Speaker Dr. Ashoka Sapumal Ranwala informed Parliament that nomination of Sajith Premadasa, leader of the Samagi Jana Balawegaya (SJB), has been accepted as the Opposition Leader of the 10th Parliament of Sri Lanka.

Jaffna District Independent MP Archuuna Ramanathan refused to move away after he sat on the Opposition Leader's seat inside the chambers despite requests by Parliament staff to move.

National People's Power (NPP) Gampaha MP Dr. Ashoka Sapumal Ranwala was elected as the Speaker of the 10th Parliament of Sri Lanka a short while ago. Prime Minister Harini Amarasuriya proposed his name, and the nomination was confirmed by Vijitha Herath.

President Anura Kumara Dissanayake adjourned the Sri Lankan Parliament until 9:30 a.m. on December 3. The adjournment followed the President’s delivery of the government’s policy statement during the inaugural session of the 10th Parliament earlier today.