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v2025

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Govt Moves to Eliminate Single-Use Plastics in State Institutions

The Ministry of Public Administration, Provincial Councils and Local Government has introduced a new circular aimed at strengthening solid waste management practices across all state institutions, with a major focus on eliminating single-use plastics.

The circular, issued to Ministry Secretaries, Provincial Chief Secretaries, Heads of Departments, and Heads of Corporations and Statutory Boards, directs all government institutions to completely discontinue the purchase and use of single-use plastic water bottles from May 31 onwards.

In addition, heads of institutions have been instructed to take immediate steps to prevent the use of single-use plastics within their respective workplaces as part of a broader effort to reduce environmental pollution and improve sustainable waste management practices.

The Ministry further stated that the provisions outlined in the Public Administration Circular issued on April 2, 2025, will continue to remain in force alongside the newly introduced measures.

Accordingly, all state institutions have been reminded to strictly follow the internationally recognized “3R” waste management concept — Reduce, Reuse and Recycle.

The Ministry of Public Administration, Provincial Councils and Local Government noted that the circular was issued with the concurrence of the Ministry of Environment, underscoring a coordinated government effort to promote environmentally responsible practices within the public sector.

 
 
 
 
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Adverse Weather Leaves Trail of Damage Across Sri Lanka

Relentless adverse weather conditions continuing across the island have left hundreds of homes damaged and thousands of residents affected, according to the latest update from the Disaster Management Centre (DMC).

The DMC reported that 200 houses have suffered partial damage due to the ongoing inclement weather, with the worst impact recorded in the Kalutara District, where 90 homes were damaged.

Several other districts have also reported damaged properties. Authorities confirmed that 25 houses were partially damaged in both Batticaloa District and Gampaha District, while 22 houses were affected in Ratnapura District.

Meanwhile, 14 damaged houses were reported from Galle District. Additional incidents of property damage were recorded in Monaragala District, Colombo District, Jaffna District, Hambantota District, Anuradhapura District, Mannar District and Trincomalee District.

The DMC further stated that one house was completely destroyed in the Ratnapura District as severe weather conditions continued to batter several regions.

Overall, the disaster situation has affected 1,582 families across the country. According to officials, 5,267 individuals belonging to those families have been impacted by the prevailing weather conditions.

The affected residents have been reported from 66 Divisional Secretariat divisions islandwide, as authorities continue to monitor the evolving situation.

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Special traffic plan for National War Heroes’ Commemoration ceremony

The ‘‘National War Heroes’ Commemoration Ceremony,’’ is scheduled to be held today (19) at the Parliamentary Grounds in front of the National War Hero’s Monument in Battaramulla, under the patronage of President Anura Kumara Dissanayake.  

The police have announced a special traffic management plan to be implemented during the event.

Accordingly, vehicular traffic will be limited along Parliament Road from Polduwa (Diyatha Uyana) junction to Keangnam junction Battaramulla from 3.30 pm today till conclusion of the National War Heroes’ commemoration. 

Alternative routes:

  • Vehicles exiting Colombo via the Parliamentary Road may proceed through Polduwa Junction, Battaramulla, Palanthuna, and Keangnam Junction.    
  • Vehicles entering Colombo from Keangnam Junction may travel via Palanthuna and Battaramulla.  
  • Vehicles arriving from Rajamalwatta via Bodhiraja Mawatha may proceed to Battaramulla Road and continue along their required routes.

Parking arrangements for buses and trucks:

  • From Japan Sri Lanka Friendship Road Junction to Kimbulāwala Junction.    
  • From the Ceylon Electricity Board area along Japan Sri Lanka Friendship Road up to Pelawatta.

(Adaderana.lk)

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DBS Jeyaraj: The End of an Extraordinary Chapter in Sri Lankan Journalism

Iam deeply saddened and devastated to hear of the passing of DBS Jeyaraj, undoubtedly one of the finest journalists Sri Lanka has ever produced.

DBS, as he was often referred to, was not merely a journalist. He was a true legend of his profession, whose commitment was extraordinary and unwavering. In an era where many compromised, DBS remained fiercely dedicated to truth, detail, and the pursuit of a story, with remarkable courage and conviction.

To me personally, he was also a damn good colleague and friend. What I will remember most about DBS is his instinctive desire to stand by the underdog and his ability to remain human despite the many complexities of our country and its politics.

Sri Lanka has lost a truly exceptional son and journalism has lost one of its greats.

DBS was a book. An entire newspaper’s worth of space would be necessary to write a review that does justice to his story. That is for later.

My heartfelt sympathies go to Mrs Jeyaraj and her family. Your husband was a true legend and his place in Sri Lankan journalism will remain firmly entrenched. He loved Sri Lanka in an extraordinary way and was a proud Sri Lankan.

 
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Meta to launch ‘Incognito Chat’ for private AI conversations on WhatsApp

Meta Platforms is rolling out a new “Incognito Chat” feature for its artificial intelligence assistant on WhatsApp messaging service, the company said on Wednesday, as it looks to address data privacy concerns.

Meta said incognito chats will be powered by its private processing technology, ensuring conversations remain invisible to anyone, including the company itself.

“Your conversations are not saved and by default, your messages disappear — giving you a space to think and explore ideas without anyone ⁠watching,” the company said in a blog post.

The move comes as people often share sensitive personal, financial, health or work-related information with AI assistants, despite privacy concerns about how their data could be stored or used by the companies.

“We’re starting to ask a lot of meaningful questions about our lives with AI systems. It doesn’t always feel like you should have to share the information behind those questions with the companies that run those AI systems,” Head ⁠of WhatsApp Will Cathcart said in a media briefing.

According to a company website, messages people share with Meta AI may be used by the social media company to improve its AI models, but personal chats on WhatsApp remain protected by end-to-end encryption ⁠and are not accessible for that purpose.

For now, incognito chat is text-only, meaning users will not be able to upload images, Cathcart said.

He added that the AI will ⁠also have built-in safety guardrails, refusing to answer problematic questions or steering conversations in different directions.

Meta said it also plans to introduce “Side Chat” with ⁠Meta AI in the coming months, a feature that will allow users to get private assistance within any chat on WhatsApp.

Source: Reuters

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Fading window for reconciliation

Seventeen years after the guns fell silent, Sri Lanka is still stuck between the illusion of peace and the reality of unresolved injustice. The military defeat of the LTTE in May 2009 ended nearly three decades of bloodshed, terror, and destruction. Roads were rebuilt, railways restored, cities modernised, and infrastructure expanded across the former battle zone. The visible scars of war have, to some extent, faded. Yet beneath the surface lies a harder truth that wars may be won on the battlefield, but peace must be built in the hearts and minds of people. That peace remains painfully incomplete.

For many in the South, the end of the war marked liberation from fear and uncertainty. For many Tamils in the North and the East, however, the end of the conflict did not bring closure, dignity, or equality. Instead, many continue to live with grief, suspicion, militarisation, and a lingering sense that they remain second-class citizens in their own country.

The roots of the ethnic conflict were never purely military. They lay in decades of political exclusion, language discrimination, broken promises, and the refusal to meaningfully share power. Policies that marginalised Tamil identity and aspirations created the alienation that ultimately fuelled armed conflict. Seventeen years later, many of those underlying grievances remain unresolved.

Perhaps the deepest wound remains the question of accountability. Families of the disappeared still search for answers. Mothers continue protests in the North demanding justice for loved ones who never returned. Allegations of grave human rights abuses, particularly during the final stages of the war, remain largely unaddressed.

The failure to act even on straightforward and symbolic cases has reinforced distrust. The Chemani mass grave is one such example. Allegations that scores of Tamils killed during the conflict were buried there demand credible, transparent investigation. Yet there is little confidence that justice will ever be delivered.

This is why the presidency of Anura Kumara Dissanayake carried such historic promise. He came to power with a once-in-a-generation mandate from both the North and the South. Unlike many traditional political leaders, neither he nor his party are tainted by allegations of wartime abuses. On the contrary, they themselves have experienced State repression and violence. Many believed this gave him both the moral authority and political opportunity to reshape Sri Lanka’s future and build a genuinely inclusive nation.

Yet two years into his presidency, the reconciliation agenda appears stalled. There has been little movement toward constitutional reform or meaningful power-sharing. The political courage required to address the national question remains absent. Symbolic gestures and rhetoric cannot substitute for structural change. Without concrete measures to devolve power, strengthen minority protections, and address wartime accountability, reconciliation risks becoming another empty slogan.

The tragedy is that opportunities such as this do not come often. Sri Lanka today is exhausted by economic crisis, corruption, and decades of division. There is a broad public appetite for a new political culture that moves beyond ethnic nationalism and majoritarian triumphalism. A durable peace requires not merely the absence of war, but the presence of justice, equality, and mutual trust.

History has shown that unresolved grievances do not disappear simply because guns are silent. Nations cannot build unity on selective memory or denial. Seventeen years on, the battlefield is quiet. But the harder battle — for trust, dignity, and equal citizenship — still remains to be won.

(Ft.lk)

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Chinese National Arrested in Kollupitiya Over Illegal Cigarette Haul

A foreign national was arrested in Kollupitiya after police uncovered a stock of allegedly smuggled foreign cigarettes during a targeted raid near Nimalka Gardens.

The operation was carried out by officers attached to the Colombo South Divisional Criminal Investigation Unit, who conducted the raid as part of an ongoing effort to crack down on illegal trade activities in the area.

Police said the suspect was found in possession of 540 sticks of foreign cigarettes believed to have been brought into Sri Lanka unlawfully.

The arrested individual has been identified as a 35-year-old Chinese national, according to police.

Authorities stated that the cigarettes were suspected to have been imported illegally, and investigations are now underway to determine the source and intended distribution of the contraband.

Kollupitiya Police are conducting further investigations into the incident.

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Money and the mind

A man stands near a small tea shop in Colombo carefully counting a few folded notes before ordering his evening meal. In another part of the country, a mother walks slowly through a supermarket while silently calculating which items she can afford and which ones must be left behind. A university student living away from home stares at a missed call from his parents because he already knows the conversation will somehow return to money. 

These are not extraordinary stories. They are ordinary Sri Lankan moments that quietly reveal how deeply money influences the emotional lives of people.

Society often treats money as either a symbol of greed or a measure of success, but psychologically, money is connected to something far more human. For most people, money is not about luxury cars, expensive hotels, or social media lifestyles. It is about safety, stability, dignity, and peace of mind. 

When people worry about money, they are rarely worried about paper notes themselves. They are worried about whether their children can continue school peacefully, whether there will be enough for medicine during an emergency, or whether tomorrow will become harder than today.

This became painfully visible during Sri Lanka’s recent economic crisis. People who once felt financially stable suddenly experienced fear and uncertainty in ways they had never imagined. 

Families started planning daily life around shortages, fuel queues, electricity cuts, and rising prices. Even individuals with education and employment felt emotionally shaken because financial insecurity affects the human mind in powerful ways. 

The stress was not limited to economics. It slowly entered relationships, conversations, sleeping patterns, and emotional well-being.

Survival, stability and dignity

Psychologists explain that when people experience constant financial pressure, the brain enters a state of survival thinking. In this condition, the mind focuses more on immediate threats and less on creativity, hope, and long-term thinking. 

This is why financial stress often makes people impatient, anxious, emotionally reactive, and mentally exhausted. A father who returns home frustrated after hearing about another price increase may not truly be angry about the price itself. A mother lying awake at night thinking about school expenses is not simply doing calculations. Both are carrying invisible emotional burdens connected to uncertainty and responsibility.

This is one reason why the statement ‘money cannot buy happiness’ can sometimes sound disconnected from reality. Happiness may not be purchasable, but financial instability can certainly damage peace of mind. 

There is a significant difference between luxury and emotional security. Luxury is wanting a more expensive phone or a larger television. Emotional security is knowing that there is enough money available when a parent becomes ill or when a child suddenly needs support. Most ordinary people are not trying to become millionaires. They are simply trying to reduce fear and create stability for themselves and their families.

A three-wheeler driver working late into the night may not be chasing wealth in the glamorous sense society imagines. He may simply want to pay school fees on time and avoid the embarrassment of borrowing money. 

A young woman saving part of her salary carefully each month may not be materialistic. She may simply want independence and the confidence that she can survive difficult situations without depending entirely on others. Money, in many ways, represents the ability to make choices with dignity.

A culture of comparison

At the same time, modern society has created a dangerous emotional confusion about money. Today people no longer compare values, kindness, or character as much as they compare lifestyles. 

Social media has intensified this behaviour by turning wealth into a public performance. One person posts photos of a new vehicle, another uploads images from a foreign vacation, and suddenly countless others begin questioning their own progress in life. People start feeling unsuccessful not because they are failing, but because they are constantly exposed to carefully edited versions of other people’s lives.

This culture of comparison creates deep psychological pressure. Some people begin spending beyond their actual capacity simply to maintain appearances. Others hide financial struggles behind smiling photographs and attractive captions. Many young people now feel that success must be visible and publicly displayed in order to be meaningful. 

Unfortunately, this mindset creates emotional exhaustion because the human mind quickly adapts to material improvements. The excitement of expensive purchases fades, salaries become normal over time, and new desires continuously replace old ones. This cycle leaves many people emotionally restless even after achieving financial goals they once believed would make them permanently happy.

That is why some individuals with modest incomes continue to live peacefully and joyfully, while others surrounded by wealth remain anxious and dissatisfied. 

Real wealth is often more psychological than material. A person who can sleep peacefully at night, manage emotions wisely, avoid unnecessary comparison, and maintain healthy relationships may actually be emotionally richer than someone constantly trapped in fear, debt, and social pressure.

The need for holistic financial education

Sri Lankan culture once understood this balance more naturally. In many families, happiness was measured through togetherness, mutual respect, and emotional connection rather than public display. Neighbours supported one another during difficult times, and people were less obsessed with proving success externally. 

Modern culture, however, has gradually replaced contentment with competition. People now feel pressure not only to survive but also to appear successful in the eyes of others. This invisible competition quietly damages emotional well-being because comparison constantly creates the feeling that one’s life is incomplete.

Perhaps this is why society must begin having healthier conversations about money. Children are taught mathematics, science, and language, but very few are taught how to emotionally understand money. 

Financial education should not only focus on earning and spending. It should also teach emotional discipline, self-worth, responsible living, and the difference between genuine needs and social pressure. A person who understands money psychologically is less likely to become controlled by it.

True wealth and wisdom

True financial wisdom is not always about earning the highest salary. Sometimes it is about creating balance, protecting peace of mind, avoiding unnecessary debt, and resisting social pressure. There is dignity in living within one’s means, intelligence in saving carefully, and strength in refusing to measure personal worth through public comparison. 

The richest moments in life are often deeply ordinary: a mother buying schoolbooks without anxiety, a young graduate supporting parents for the first time, a family eating dinner peacefully without discussing unpaid bills, or a father finally sleeping without fear of tomorrow’s expenses.

These moments rarely appear on social media, but psychologically they are priceless because they represent emotional stability. 

Perhaps the real purpose of money is not to make people superior to others, but to reduce fear and create possibility. Money provides breathing space for the human mind, and when people finally experience emotional breathing space, they become more hopeful, patient, creative, and emotionally present in their relationships and communities.

Sri Lanka does not merely need economic recovery. It also needs emotional recovery from the fear and exhaustion created by prolonged uncertainty. People need to rediscover that human value cannot be measured entirely through possessions or income. Money matters because stability matters, and stability protects the human spirit. 

Ultimately, true wealth may not be about becoming someone admired by strangers, but about reaching a stage in life where the mind feels calm, the family feels safe, and the future no longer feels controlled by fear.

 

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Sri Lanka’s Tourism Earnings Dip Sharply Despite Steady Visitor Arrivals

Sri Lanka’s tourism industry recorded a notable decline in earnings during April 2026, with revenue figures dropping significantly compared to the same period last year, according to the Central Bank of Sri Lanka.

Official data released by the Central Bank showed that tourism earnings for April 2026 stood at USD 157.1 million. This marks a sharp 38.8% decrease from April 2025, when the country generated USD 256.7 million through the tourism sector.

Statistics from the Sri Lanka Tourism Development Authority revealed that 135,643 foreign tourists arrived in the country during April this year.

In comparison, January 2025 saw tourism earnings of USD 256.7 million generated from 174,608 tourist arrivals, highlighting the recent slowdown in both visitor numbers and revenue generation.

Despite the monthly decline, Sri Lanka continued to attract a substantial number of travelers during the first four months of 2026. Between January and April, a total of 876,277 foreign tourists visited the island, contributing USD 1,111 million in tourism earnings, according to CBSL data.

However, when compared with the corresponding period in 2025, the figures indicate a downward trend. During the first four months of last year, Sri Lanka welcomed 896,884 tourists and earned USD 1,379 million from the sector.

As a result, tourist arrivals for the January–April period recorded a 2.3% decline, while tourism earnings fell more sharply by 19.4%, reflecting growing challenges for one of the country’s key foreign exchange earning industries.

 
 
 
 
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Exchange rate politics. Why Sri Lanka falls behind India? Will the currency board be a better cure?

Article's background and purpose

I saw an interesting presentation on how the value of Indian Rupee based on the exchange rate for the US dollar has fallen from Rs. 3 in 1947 to Rs. 94 in March 2026 which has now surpassed 95 (See the video here. India Rupee Slide) and a brief economic story behind this long-term falling trend of the Rupee as shown in the following chart. Similar presentations and concerns are seen for almost all currencies across the developping world consequent to the present war tensions in the Middle East and underlying disruptions of global supply chains.

The economic story highlighted in the presentation is almost same for almost all developing countries who manage the economies and live on the dollar although there can be country specific instances that have caused changes in the exchange rate from time to time.

Therefore, Indian exchange rate story is useful to benchmark the long-term trend of Sri Lanka Rupee to understand successes and failures of Sri Lankan economic managers. Although macroeconomic structure and living standards are significantly different between the two countries, the priority attached to the dollar exchange rate in the macroeconomic management and exchange rate policies are almost identical. Therefore, given the economic and political strength of India in the global economy, benchmarking Sri Lanka on Indian Rupee value seems reasonable.

Therefore, this article proposes that Sri Lankan policymakers compare its exchange rate story with Indian story and revisit the exchange rate policy framework in the interest of long-term macroeconomic development and living standards. This is important in the current globally stressful exchange rate environment in which some analysts predict currency crises, international insolvencies and collapse of living standards similar to country experiences in 2022/23.

Exchange rate economics and politics

Global development

Exchange rate is the price for trade between two currencies. In ancient kingdoms, kings taxed foreign trade but never intervened in prices of currency exchanges in trades.

However, modern state/sovereign currencies have been invented as political instruments for governments to take control over respective economies through fiscal operations. Therefore, governments across the world commenced intervening in currency prices and trades as a major part of their control of sovereign currencies.

Meantime, the US government since 1944 Bretton Woods agreement for gold-dollar-based exchange rate has led its currency, US dollar, to be the dominant global currency so that the US government secures the global economic power. As a result, currencies of the rest of the world have been operating largely on reserves built in the US dollar and, therefore, the exchange rate for the US dollar has been the single most dominant macroeconomic target across the world. This has led the exchange rate to be a very powerful geopolitical instrument across the world. 

In 1980s, Governments of developed market economies gave up the direct target and control of exchange rate by letting it to be determined largely in currency markets. However, the governments in the developing world continued to intervene in the exchange rate as the key driver in economic development and management based on the US dollar and its flows through global trade of goods, services and finance. 

In that background, a lot of exchange rate theories have been invented by economists to detect the macroeconomic impact of exchange rate as well as the use of exchange rate as a major macroeconomic policy instrument. These theories mostly center around three exchange rate regimes, i.e., fixed exchange rate, floating exchange rate and managed floating exchange rate. As such, exchange rate has become both the macroeconomic target and the macroeconomic policy instrument where most governments try to play both simultaneously.

Macroeconomic trap by exchange rates in developing countries

However, governments of many developing countries have been unable to drive respective economies to generate a healthy flow of dollars from international trade to support the currency stability, economic growth and better living standards. Therefore, country politics has evolved to raise foreign borrowing for building a dollar reserve buffer to manage the exchange rate at levels desirable for macroeconomic targets such as high growth, low inflation and high employment. 

In turn, this exchange rate politics, i.e., foreign borrowing-dollar reserve-exchange rate, has caused these economies in the worst trap as shown by currency crises, international bankruptcies and collapse of living standards from time to time. Even countries such as Malaysia, Philippines, Indonesia, South Korea and India who built sizable dollar reserves through aggressive domestic industrialization policies have been unable to insulate respective economies and living standards from exchange rate risks linked to the US dollar. It is this exchange rate politics that has led the IMF/World Bank to survive and govern the developing world through their loan programmes that support the dollar reserve and exchange rate although IMF/World Bank born in the Bretton Woods in 1944 were dead in 1971-73.

It is in this political background that the long-term trend of the value of the currency of any country should be understood. Therefore, the textbooks-based exchange rate economics has little importance for macroeconomic management of countries, other than its use for understanding of economic principles of currency markets.

Sri Lankan exchange rate policy journey vs India

Irrespective of underlying geopolitics on the exchange rate, Indian video shown above provides an insight into exploring of what might have caused the value of Sri Lankan rupee to depreciate excessively faster than Indian rupee. A trend comparison for the past 76 year-period 1950-2026 is shown in the chart below.

Sri Lankan monetary system and exchange rate policy after independence

Before establishing Sri Lankan currency and monetary system in 1950 by the Monetary Law Act, Sri Lankan monetary system was the Currency Board System which produced Sri Lankan rupee on its reserve of Indian rupee and, therefore, linked indirectly to the Sterling Pound to which Indian rupee was linked. Therefore, the parity or the exchange rate between Sri Lankan rupee and Indian rupee in 1950 was one, implying that there was no discretionary money printing in Sri Lanka. 

However, in 1950, Sri Lanka gained the sovereign currency status where the government got the freedom to print money for domestic economic objectives. Therefore, monetary variables such as exchange rate, interest rate, bank credit, foreign reserve, public debt and money supply were managed by the central bank for achieving desirable macroeconomic targets. In the recent past, balancing between the interest rate and exchange rate targeting the foreign reserve has become the hidden policy strategy that has produced unbearable macroeconomic costs to living standards. 

In that journey, irrespective of sovereign currency powers, relevant authorities have continued to manage the monetary system as a de-facto currency board by operating it on the dollar and borrowed dollar reserve with the exchange rate stability as the core of the macroeconomic management. The present macroeconomic management stance is also the same.

Therefore, Sri Lankan policy-making economists who continue to support IMF borrowing programmes to protect exchange rate stability, foreign trade openness and consumer price stability (low inflation) under neoliberal ideology are blessed with a practical research topic to find out why Sri Lanka has miserably failed behind India in its macroeconomic management as reflected in large deviations of the currency values, foreign reserve buffers and underlying policy directions.

Macroeconomic question to be answered by policy economists now

The simple question here to be answered is why, despite the fact that both Sri Lanka and India commenced with same dollar exchange rate in 1950, Sri Lankan rupee value has fallen by 6,777% against the dollar when Indian rupee fell by 1,916% during the period from 1950 to 2026. The same question in other words is why Sri Lankan rupee fell by 241% against Indian rupee during that period (see the chart above). 

In this period from 1950-1974, exchange rates were fixed rates under the Bretton Woods-IMF system and, therefore, they remained in a narrow band. However, after the collapse of the Bretton Woods-IMF fixed exchange rate system in 1971-1973, countries started experimenting numerous mechanisms for market-based flexible exchange rate regimes. Therefore, large deviations in exchange rates were reported after 1974/75. It is historic that Sri Lanka embarked on a flexible exchange rate regime since 15 November 1977 in order to give effects to the open economy policy model. Therefore, the question is really applicable to the trend of exchange rates after 1973.

The present concern is where exchange rates of both countries are heading to in the foreseeable future. Indian concern is the psychological limit of 100. Sri Lanka's psychological limit is how soon the exchange rate will pass 370, the record highest catastrophically experienced in 2022 economic and political crisis.

Whether the two countries are able to save the limits rest on the level of respective foreign reserve adequacy which are around 8.5 months of imports in India (about 690 bn dollars) and 3 months in Sri Lanka (about 6.7 bn dollars). Both have built the foreign reserve through foreign capital where the private equity is major in India while government borrowing and currency exchange is major in Sri Lanka as both have failed to generate a foreign surplus on the real trade. Therefore, both countries require significant suppression of economic growth and living standards to save these psychological exchange rate limits. However, if those limits are breached, the economy will be a free float that will require years and decades for recovery at a generational cost to the general public.

As the answer is not that sample, Sri Lankan policy economists at least can highlight major differences in economic policy politics between India and Sri Lanka and find out how those differences have caused Sri Lanka to be an economy increasingly vulnerable to currency and debt crises directly connected to exchange rate policy.

Concluding remarks

  • Exchange rate is a political topic although it can have divergent macroeconomic stories.
  • Therefore, macroeconomic fundamentals-based exchange rate stories are pure economic myths.
  • The exchange rate in the developing world is a price highly controlled by means of risky foreign borrowing for unachievable macroeconomic objectives.
  • Therefore, unless the current macroeconomic management policy framework is redesigned to exclude the exchange rate similar to developed countries in 1980s, developing countries will never see the light of sustainable development and livings standards.
  • As Sri Lankan monetary system with the central bank that was established in 1950 was repealed by politics in 2023 with a non-accountable central bank, it is advisable that Sri Lanka goes back to the 1950 Currency Board System from the present de-facto dollar-based currency board system if the country politics continues to depend on the dollar for development and living standards. This system has long survived in island economies such as Singapore, Hong Kong and Caribbeans.
  • This system will abolish the present discretionary money printing in rupee that every body dislikes at present and drive the economy and living standards officially on the dollar which is presently pursued unofficially.
  • Unless such drastic currency policies are implemented, rupee's sovereign currency status will be lost to crypto currencies very soon. Meantime, country leaders will continue to live on imf dollar bailout packages of day-to-day living by compromising the country sovereignty.

(This article is released in the interest of participating in the professional dialogue to find solutions to present economic crisis confronted by the general public. All contents in the article are based on the author's research and views on the subject which have no intension to personally discredit characters or ideologies of any individuals.)

P Samarasiri

(BA Hons Economics, University of Colombo, MA Economics, University of Kansas)

Former Deputy Governor, First Central Bank of Sri Lanka

(35 years of experience in staff class in the Central Bank, inclusive of Director of Bank Supervision, Assistant Governor, Secretary to the Monetary Board and Compliance Officer of the Central Bank, Chairman of the Sri Lanka Accounting and Auditing Standards Board and Credit Information Bureau, Chairman and Vice Chairman of the Institute of Bankers of Sri Lanka, Member of the Securities and Exchange Commission and Insurance Regulatory Commission and the Author of 13 Economics and Banking Books and a large number of articles published.)

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Suspect Shot During Dramatic Re-Arrest Attempt in Ampara

 

 

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Revolutionizing the Pedagogy: "LivePhysics" Debuts AI-Driven Personalized Learning for Sri Lankan Students

In what is being hailed as a paradigm shift for the local education sector, the "LivePhysics" mobile application was recently launched, integrating cutting-edge Artificial Intelligence (AI) to redefine the learning experience. Designed to address the perennial grievances of Gen Z students—specifically the lack of personalized attention in overcrowded tuition hubs—the app promises a bespoke educational journey that bridges the gap between mass instruction and individual mastery. The innovation was recently unveiled during an exclusive discussion hosted by renowned media personality Narada Bakmeewewa, featuring veteran Physics educator Sanjeewa Dharmawardena and Dr. Chamath Palihawadana, Chief Technology Officer at BetaGen.

The "Study Buddy": A Bespoke AI Tutor

The centerpiece of the application is "SD AI," a sophisticated virtual assistant that transcends the capabilities of generic AI models like ChatGPT. Unlike standard chatbots, SD AI is built upon a proprietary knowledge base reflecting over 20 years of Mr. Dharmawardena’s specialized teaching methodologies and academic expertise. The application offers a remarkably immersive experience, allowing students to receive explanations, lesson summaries, and answers to complex queries in the familiar voice of their own teacher. This nuance provides a sense of continuity and trust that traditional digital platforms often lack.

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Transforming Distraction into Discipline

While smartphones are frequently criticized as a primary distraction in a student's life, LivePhysics seeks to pivot the device’s role into a productivity powerhouse. The app serves as a holistic lifestyle coordinator, helping students schedule their sleep cycles, school hours, and dedicated study blocks.

To ensure focus, the system utilizes intelligent push notifications and guided interventions to curb unproductive phone usage during study hours, effectively mentoring the student toward better time management and digital discipline.

Empowering Parents through Real-Time Analytics

One of the most significant features for the modern Sri Lankan household is the real-time reporting dashboard. Parents and educators can now monitor a student’s progress with surgical precision, viewing data on study duration, weekly growth, and specific subject areas that require reinforcement. According to Sanjeewa Dharmawardena, this transparency is vital. "It eliminates the friction often found between parents and children regarding academic progress, replacing doubt with data and fostering a more supportive, trust-based learning environment," he noted.

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Preserving Pedagogical Legacies

Dr. Chamath Palihawadana emphasized the long-term vision of the project, noting that the technology allows a teacher’s unique intellectual legacy and instructional style to be preserved indefinitely. This ensures that future generations can access the same high-quality mentorship regardless of time or location.

BetaGen, the technology partner behind the project, has announced its intention to extend this AI framework to other leading educators and academic institutions across Sri Lanka. This move is expected to democratize high-end personalized tutoring, setting a new gold standard for the nation’s educational landscape. For the discerning Sri Lankan parent and the ambitious student, LivePhysics represents more than just a digital tool—it is the arrival of a more intelligent, intuitive, and individualized future for education.

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