Former Minister Ali Sabry has backed the Government’s decision to impose a 50% surcharge on vehicle imports, describing it as a prudent step to protect Sri Lanka’s fragile external sector amid global instability.

“The Government’s decision to impose a 50% surcharge on the import of vehicles, in the midst of escalating global uncertainty and external pressures, is a prudent and timely measure aimed at protecting Sri Lanka’s fragile external sector and preserving scarce foreign exchange reserves,” Sabry said in a statement on social media. 

He welcomed the exemption for Letters of Credit opened on or before May 15, 2026, calling it a fair safeguard. 

“It avoids unnecessary uncertainty, prevents retrospective complications, and protects already embattled importers from further hardship and arbitrary administrative difficulties. In times of crisis, clarity, consistency, and fairness in implementation are just as important as the policy itself,” he added.

Sabry warned that Sri Lanka’s recovery remains vulnerable to global conflicts that disrupt energy markets, trade routes, supply chains, investor confidence, tourism, and financing conditions.

He stressed that smaller, import‑dependent economies pay a disproportionately heavy price for wars and geopolitical confrontations.

“Ultimately, this is precisely why Sri Lanka and other like‑minded nations must continue to urge all parties involved in conflicts to pursue peaceful negotiations, diplomacy, and resolution through dialogue rather than aggression, escalation, and invasions,” he noted, emphasizing that the economic and human costs of war are borne most painfully by ordinary people in vulnerable nations. (Newswire)

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Former Minister Ali Sabry has cautioned that “national security institutions must never be undermined for political gain”, following the arrest of Former State Intelligence Service Chief, retired Major General Suresh Sallay. 

In a statement on social media, Ali Sabry said that the arrest of Major General Suresh Sallay, an officer widely associated with the dismantling of the LTTE’s intelligence network, intelligence operations that led to the targeting of senior leadership, including Tamilchelvan, and efforts connected to the apprehension of KP, raises serious concerns about the direction in which national discourse is heading.

He pointed out that these were officers who once placed their lives on the line to protect the nation during its most dangerous years. 

“Today, many feel that those same individuals are being drawn into a political battlefield shaped less by evidence and more by competing narratives. Accountability under the law is essential in any democracy, but it must be pursued with fairness, restraint, and respect for institutional integrity,” he said. 

The former minister further noted that the Easter Sunday tragedy deserved a professional, evidence-based inquiry focused on justice for victims and national security. 

“Instead, what we increasingly witness is the transformation of a complex investigation into a public spectacle. International cooperation, including the extensive involvement of the FBI and U.S. authorities, has already taken place with investigations, prosecutions, and assistance provided. When even external partners indicate that further probes may not yield meaningful new outcomes, continuing to weaponise the issue for partisan gain risks damaging Sri Lanka’s credibility and long-term security interests,” he said. 

Ali Sabry pointed out that national security institutions cannot become collateral damage in political contests, stating, “Undermining officers who once safeguarded the country may offer temporary political advantage, but it weakens morale within the armed forces and sends a troubling signal to those tasked with protecting the nation.”

“Sri Lanka must pursue truth and justice, but through law, evidence, and responsible leadership, not through theatrics designed to mislead or divide. History will judge not only those who served in difficult times, but also those who chose to politicise matters that demanded unity and maturity,” he added. (Newswire)

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By former minister Ali Sabry

Debate within Sri Lanka about India’s role in the island’s recent past and present is neither new nor unusual. As India has emerged as one of Sri Lanka’s most consequential partners during moments of economic distress and humanitarian crisis, public discussion has intensified, reflecting both appreciation and caution.

That caution is rooted in history. Sri Lankans remember India’s early involvement in Sri Lanka’s internal conflict and its initial support, direct or indirect, for Tamil separatist movements. These experiences left deep political and institutional scars. They remain part of Sri Lanka’s strategic memory and cannot be ignored in contemporary foreign policy deliberations.

Yet foreign policy cannot be governed by history alone. Nearly four to five decades have passed since those events. The regional and global environments have changed fundamentally, and India has evolved with them.

India today is a major regional power with a rapidly expanding economy and a strategic outlook shaped by stability in the Indian Ocean, secure sea lanes, energy security, regional connectivity, and a rules-based international order. Within this framework, Sri Lanka is increasingly viewed not through the narrow prism of domestic ethnic politics, but as a strategically located maritime neighbour whose stability and orientation matter directly to India’s own security and economic interests.

This evolution has been demonstrated through action rather than rhetoric. During Sri Lanka’s most severe economic crisis, India extended timely financial assistance, fuel supplies, credit lines, and diplomatic support. More recently, following the devastating Dithwa cyclone, India was among the first to respond with humanitarian assistance and sustained engagement during recovery. Such responses reflect a pragmatic approach that prioritises stability, resilience, and continuity in Sri Lanka, particularly in a region where uncertainty carries wider consequences.

At the same time, a partnership must not be confused with dependence. For Sri Lanka, the central challenge is to engage India constructively while preserving strategic autonomy. This requires a clear and realistic assessment of Sri Lanka’s strengths and vulnerabilities, avoiding both exaggerated self-confidence and unnecessary insecurity.

Sri Lanka is a small state in terms of economic and military capacity, but it occupies a location of exceptional strategic value in the Indian Ocean. Positioned along vital east-west maritime routes and adjacent to some of the world’s busiest sea lanes, Sri Lanka’s ports and maritime domain are of relevance not only to India but to all major trading nations. Strategic independence, therefore, does not lie in isolation or equidistance, but in the ability to manage relationships prudently, diversify partnerships, and ensure that no single external actor dominates Sri Lanka’s strategic space.

Historical comparisons are useful when applied with restraint. Sri Lanka does not need, nor should it attempt, to replicate Europe’s post-war integration model. The European Union emerged from unique historical circumstances and broadly comparable economic capacities. Yet Europe’s experience remains instructive. France and Germany fought three major wars within seventy years. The United Kingdom, Germany, Italy, and much of Europe were locked in two catastrophic world wars. Despite this, these states chose reconciliation over resentment, built institutions of cooperation, deepened trade relations, and ultimately forged a shared European project that transformed conflict into stability and prosperity.

They did not forget their history. They exercised political maturity in choosing to move beyond it.

For Sri Lanka, the lesson is not institutional imitation but strategic maturity. Cooperation must be grounded in clearly articulated national interests, mutual respect, and transparent engagement. It must be guided by a long-term national strategy rather than short-term political rhetoric calibrated to domestic audiences.

This is where domestic leadership becomes decisive. Sri Lanka’s foreign policy, particularly in relation to India and the Indian Ocean region, must be anchored in clarity, consistency, and bipartisan understanding. Populist slogans, reactive nationalism, or opportunistic alignment may serve immediate political objectives, but they weaken the country’s credibility and negotiating position over time.

The choice before Sri Lanka is not between trust and distrust, nor between alignment and resistance. It is whether the country chooses to remain a prisoner of its past or act as an architect of its future. Nations that succeed are those that acknowledge history without being constrained by it, and that convert geography and experience into strategy rather than grievance.

In an increasingly contested Indian Ocean, where maritime security, energy flows, undersea cables, and supply chains intersect, Sri Lanka’s choices carry consequences beyond its borders. Responsible statecraft requires political leaders to communicate honestly with the public, to explain both opportunities and constraints, and to place long-term national interest above short-term political gain.

Handled with care, a balanced and strategically independent partnership with India offers Sri Lanka tangible opportunities, including cooperation in maritime security, disaster response, energy connectivity, trade, and people-to-people engagement. These benefits, however, can only be realised within a broader foreign policy that remains open, diversified, and firmly sovereign.

In an increasingly multipolar world, Sri Lanka’s enduring strength lies in a foreign policy that remains balanced and non-aligned in spirit. Strategic independence today does not mean standing apart from regional powers, but engaging all partners without becoming captive to any single axis of influence. By maintaining principled autonomy, diversifying external relationships, and acting with consistency and restraint, Sri Lanka can navigate great power competition in the Indian Ocean while safeguarding its sovereignty and advancing its long-term national interests.

History should inform Sri Lanka’s foreign policy, but it should never confine it. (Newswire)

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Former Chairman of the Nagoda Pradeshiya Sabha Ananda Lanerolle has issued a public apology to former Justice Minister Ali Sabry, after reaching a settlement over alleged defamatory statements made to the media in 2021. 

President’s Counsel Ali Sabry instituted legal proceedings before the District Court of Colombo against Ananda Lanerolle for making false and defamatory allegations during a press conference by the Citizens’ Organisation for Democracy held on or around 10th May 2021. 

During the press briefing, Lanerolle had claimed that, during his tenure as Minister of Justice, Ali Sabry had influenced the Balapitiya High Court Judge in a pending matter by causing a letter to be sent.

When the matter was called before the Colombo District Judge yesterday, Lanerolle unequivocally admitted that the statement he made at the press conference was false, and that Ali Sabry had no involvement whatsoever in the alleged incident.

As part of the settlement reached between the parties, the defendant agreed to publish an apology in a national Sinhala-language newspaper within two weeks from today.

Lenarolle further undertook to deposit Rs. 1 million to the account of Maharagama Cancer Hospital as compensation. (Newswire)

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Former Minister of Foreign Affairs and Finance Ali Sabry has praised the National People’s Power (NPP) Government for staying on course with the International Monetary Fund (IMF) parameters in the Budget 2026. 

Issuing a statement, former MP Ali Sabry said President Ranil Wickremesinghe’s administration took decisions that few would dare to take in the face of public anger, decisions that cost him the presidency but saved the nation from bankruptcy.

He pointed out that yesterday’s budget presented by President Anura Kumara Dissanayake is the continuation of the same path, determined to stay on course with IMF parameters. 

“Yet, leadership is also measured in continuity, in the ability to recognize what must endure beyond political rivalry. And that is where President Anura Kumara Dissanayake deserves genuine credit. To continue these very same reforms, which his movement once fiercely opposed, is no small act of courage,” Sabry said. 

The full statement of former minister Ali Sabry;

Economic recovery does not happen by accident. It is not a gift of chance or the outcome of a single leader’s charisma; it is built through consistency, sacrifice, and courage across time.

When Sri Lanka entered the IMF program in 2022, the nation stood on the edge of collapse. 

The roadmap was demanding, even brutal:

• Reduce public debt from 119% to 95% of GDP by 2029,
• Cut Gross Financing Needs from 13.7% to 9%,
• Limit foreign debt service to 4.5% of GDP,
• Raise government revenue to 15% in the medium term, aiming for 18–20% in the long run,
• Maintain a primary surplus of 2.3% of GDP, and
• Reform loss-making State-Owned Enterprises through cost-reflective pricing.

By the end of 2023 and 2024, Sri Lanka had achieved most of these targets, not by magic, but by sheer political courage. The income tax bracket doubled from 18% to 36%, PAYE tax was reintroduced, VAT climbed from 8% to 15% and then 18%, and its threshold was halved to widen the tax net. 

It was made mandatory to have TIN number to open a bank account, buy a vehicle and purchase property, thus expanding the tax net. 

Fuel, electricity, gas, and water were priced to reflect their true cost, despite social resistance. These measures restored confidence, reopened IMF flows, and rebuilt credibility in international markets, but they came at a heavy political price.

President Ranil Wickremesinghe’s administration bore that burden. He took decisions that few would dare to take in the face of public anger, decisions that cost him the presidency but saved the nation from bankruptcy.

Yesterday’s Budget presented by President AKD is the continuation of the same path, determined to stay on course with IMF parameters. 

Yet, leadership is also measured in continuity, in the ability to recognize what must endure beyond political rivalry. And that is where President Anura Kumara Dissanayake deserves genuine credit. To continue these very same reforms, which his movement once fiercely opposed, is no small act of courage.

Payee remains, VAT 18% remains, elevated Income Tax slabs remain, and the VAT threshold is reduced further. Cost reflective pricing continues, and people still pay Rs. 100 as tax per litre of fuel to pay for the past losses. All sensible, necessary, yet unpopular decisions were made when they were taken. 

It takes immense courage and a touch of irony to desert ideology and embrace pragmatism. To move from fiery opposition to fiscal orthodoxy, from railing against taxation to defending it, is a transformation not often seen in politics. One must almost admire the conversion, for while it may lack romance, it redeems itself in responsibility. And for that, the President and his government deserve due credit.

By choosing pragmatism over populism, President Dissanayake has shown that he values the country’s future above political comfort. His government’s decision to stay the course, maintaining fiscal discipline, sustaining SOE reforms, and resisting the populist temptation to reverse hard-earned stability despite the election promises to do so is commendable.

Sri Lanka’s progress today is the outcome of continuity, not a miracle. The least we owe the truth is to tell it as it is, without rewriting history to suit the day’s applause.

The rising tax revenues, renewed investor confidence, and reopening of vehicle imports are not isolated victories of one regime or another. They are the cumulative result of continuity, of two administrations separated by politics but united by necessity.

So, by all means, let’s celebrate stability, but let’s not forget who swallowed the bitter pill so that the next could taste recovery. The numbers remember, even if politics forgets.

Sri Lanka is, once again, learning the timeless truth of nation-building: that progress has no ideology. It only rewards those willing to do the right thing, whether or not it wins them applause.

In my case and in the case of the majority of the Sri Lankans, it doesn’t matter who governs as long as it is in the interest of the nation. (Newswire)

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Former Minister Ali Sabry has questioned the government’s motives behind the proposed reduction in rooftop solar feed-in tariffs, highlighting that it only helps those benefiting from crises and not the public. 

In a post on Facebook, Ali Sabry pointed out that in 2023, 52% of Sri Lanka’s electricity came from Thermal power burning oil and coal, stating that it was at a staggering cost of Rs. 407.5 billion, which was 87% of the total generation cost.

He went on to note that 48% of the electricity generated through renewable energy, such as large-hydro, solar, wind, and small-hydro, was received at a cost of Rs. 63.1 billion, which was only 13% of the total cost.

“Almost half the electricity at a fraction of the cost. Yet, policies are being introduced that disincentivise rooftop solar, such as drastically reducing the tariff paid for solar units. Who does that help?” he questioned.

Ali Sabry pointed out that this move benefits only the Diesel Mafia, those who profit from Sri Lanka’s dependency on imported fossil fuels.

He further urged the government to consider holding back on their reduction until thermal power is phased out, which he hinted was a long way to go.

Stating whether the government was serious about reducing electricity bills, building energy independence, and protecting the environment, the former minister made the following three key suggestions

• Promote rooftop solar, not punish those who invest in it.
• Encourage more private investment in wind, solar, and small hydro.
• Phase out costly Thermal power, which is bleeding our economy.

Emphasizing that this was not just an energy issue, but a national issue, Ali Sabry said if the government was truly national-minded, it would stand with low-cost, clean energy. 

“You stand with the people. You stand against vested interests that profit from crisis and dependency. Let’s make choices that empower the nation, not a few,” he added. (Newswire) 

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Former Foreign Minister Ali Sabry has warned of the impacts of policy changes, citing national carrier SriLankan Airlines as an example.

Taking to ‘X’, the former minister said; “Policy inconsistency has played a significant role in leading us to where we are today”. 

“When the Indian government made the decision to privatize Air India, our government insisted on keeping SriLankan Airlines under state control purely for reasons of national pride. This brings to mind the situation in 2008 when we terminated the Emirates management contract for similar reasons,” he reminded.

Former MP Ali Sabry pointed out that as a result of these moves, Sri Lanka is now grappling with an accumulated loss of $1.2 billion.

He made the remarks while responding to a statement on ‘X’, which had claimed that the Ceylon Electricity Board (CEB) had decided to suspend the previous government’s open bidding for fuel procurement. (Newswire)

Policy inconsistency has played a significant role in leading us to where we are today. When the Indian government made the decision to privatize Air India, our government insisted on keeping SriLankan Airlines under state control, purely for reasons of national pride. This… https://t.co/e5Eb7NtFbX

— M U M Ali Sabry (@alisabrypc) October 16, 2024

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Former Minister of Foreign Affairs Ali Sabry has returned to his legal profession, following the recent regime change.

Ali Sabry shared a photograph on social media with his team from the legal profession, with the statement “Feels good to be back where I belong”. 

Speaking to Newswire, the former minister confirmed that he will not be contesting the upcoming Parliamentary Election. 

Ali Sabry, a key member of the Sri Lanka Podujana Peramuna (SLPP) party, entered Parliament through the National List.

He served as the Minister of Justice and Foreign Affairs under the former governments of both Gotabaya Rajapaksa and Ranil Wickremesinghe. (Newswire)

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• Media statement from Foreign Minister Ali Sabry

No matter the outcome of today’s election, I’m incredibly proud to have been part of President RW’s team. His leadership came at a time when our country was facing an unprecedented crisis. Back then, it felt like hope was lost—people were leaving in large numbers, queues for basic necessities like oil and gas were a daily reality, inflation was spiraling out of control, and shortages in essentials like fertilizer and medicine were alarming.

Fast forward two years, and the transformation is undeniable. Stability has returned, the rupee has strengthened, and inflation is now firmly under control. The government’s reforms have not only increased revenues but also bolstered our reserves, leading to a much-needed fiscal consolidation.

The restructuring of our debt, which brought a $17 billion advantage to the country, was a major milestone. Now, if we stay committed to following the DSA benchmarks, Sri Lanka could be on a slow yet steady path towards sustainable economic growth and prosperity.

It’s easy to criticize from the sidelines, but stepping into the arena and tackling these challenges head-on takes immense courage and determination. Looking back, I’m proud that we answered the call when our country needed us most and gave everything we had to help rebuild our nation.

Now, we await the next chapter with hope and optimism. (Newswire)

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Minister Ali Sabry has taken oaths as the new Minister of Justice, Prison Affairs, and Constitutional Reforms.

Minister Ali Sabry was sworn in before President Ranil Wickremesinghe today. 

The new ministerial portfolios come in addition to Minister Sabry’s existing portfolio of Foreign Affairs.

The Foreign Minister takes over the ministerial portfolios that were left vacant following the resignation of former Justice Minister Wijeyadasa Rajapakshe.

Wijeyadasa Rajapakshe recently resigned from his ministerial portfolios of Justice, Prison Affairs, and Constitutional Reforms due to contesting the upcoming Presidential Election. (Newswire)

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Minister of Foreign Affairs Ali Sabry has embarked on an official visit to Egypt at the invitation of his Egyptian Counterpart Badr Abdelatty.

According to the Foreign Ministry, Minister Ali Sabry will be in Egypt from 07-09 August 2024.

During the visit, he will hold bilateral discussions with his counterpart at the Ministry of Foreign Affairs in Cairo and also meet with the Minister of Investment and Foreign Trade of Egypt. 

Minister Sabry is also expected to have discussions at the Federation of Egyptian Chambers of Commerce and meet with several other dignitaries, to strengthen the multifaceted relations between the two countries.

The bilateral visit is expected to further consolidate the longstanding ties between Sri Lanka and Egypt. (Newswire)

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The Government of Sri Lanka has issued a travel advisory to Lebanon, urging Sri Lankans to exercise caution.

Issuing the travel advisory, Foreign Minister Ali Sabry advised Sri Lankans to refrain from travelling to Lebanon over the next few days.

Minister Sabry further advised Sri Lankans to only visit Lebanon for essential travel.

The travel advisory has been issued due to the emerging situation in the Middle East, following the assassination of Hamas leader Ismail Haniyeh. (Newswire)

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A total of 13 suspended projects by Japan, worth US$1.1 billion, are set to resume following successful talks, Minister of Foreign Affairs Ali Sabry said

Addressing a press conference at the Presidential Media Centre, the Foreign Minister said that his recent visits to Japan, Singapore, Romania, and Poland have been highly successful and have contributed to strengthening Sri Lanka’s foreign policy.

Minister Sabry said these trips addressed many longstanding issues, including the resumption of stalled Japanese projects in Sri Lanka.

Additionally, discussions with Singapore focused on investments, while talks with Romania aimed at creating new job opportunities, he said.

The Foreign Minister further said that Sri Lanka also engaged in discussions with Poland regarding the establishment of an embassy.

“Coordinating with various countries proved to be a complex task, but we successfully garnered their support for debt restructuring—a significant achievement in our foreign policy. This success is largely due to President Ranil Wickremesinghe’s expertise in managing international relations,” he added. (Newswire)

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The government has identified a location in the vicinity of the Colombo Central and North areas for the establishment of a new national school, Foreign Minister Ali Sabry said. 

In a message on ‘X’, Minister Sabry said the site was selected after months of discussions with relevant stakeholders.

He further revealed that the selected site was around 4 acres of land in the Applewatte area in Maligawatta.

The Foreign Minister emphasized that the government was committed to enhancing educational infrastructure for ‘our children’s brighter future’.

He expressed the views after visiting the Colombo Central and Colombo North areas along with President’s Chief of Staff Sagala Ratnayake, and officials from the Education Ministry and Urban Development Authority (UDA) today. (Newswire)

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Minister of Foreign Affairs Ali Sabry says Poland is considering looking at offering Sri Lankan workers employment in targeted sectors.

In a statement on ‘X’, Minister Sabry said the initiative has been proposed via a government-to-government (G2G) agreement for employment. 

The Foreign Minister further said that Poland was also considering easing visa facilitations for Sri Lankans. 

“I thank my counterpart @sikorskiradek for proposing this novel initiative at my request @PolandMFA @MFA_SriLanka,” he added, in his message on ‘X’. 

Foreign Minister Ali Sabry’s statement comes, as he concludes a successful visit to Poland. (Newswire)

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Sri Lanka and Romania have held discussions on synergies for strengthening economic cooperation between the two nations.

The discussion took place when Foreign Minister Ali Sabry, who was on an official visit to Romania, paid a courtesy call on the Romanian Prime Minister, Ion-Marcel Ciolacu at the Victoria Palace in Bucharest on Wednesday (July 17).  

According to the Sri Lankan Embassy in Bucharest, Foreign Minister Sabry briefed the Romanian Prime Minister on the current economic situation in Sri Lanka, highlighting efforts towards economic recovery and stability and shared the progress made on the on-going reconciliation process. 

The Romanian Prime Minister acknowledged the significant contributions of the Sri Lankan workforce in Romania, recognizing their role in various sectors and the mutual benefits derived from this cooperation with the potential for further enhancing workforce mobility. 

Both sides emphasized on the need to developing resilient economic strategies and fostering sustainable growth through collaborative efforts by middle income countries like Sri Lanka. 

The meeting marked a significant step in strengthening the partnership between Sri Lanka and Romania, reflecting a shared commitment to economic growth and mutual support. 

Foreign Minister Ali Sabry was joined at the discussions by Sri Lanka’s Ambassador to Romania, senior officials of the Ministry of Foreign Affairs and the Embassy of Sri Lanka in Bucharest. (Newswire)

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Foreign Minister Ali Sabry will engage in a four-day visit to Romania and Poland this week.

According to the Foreign Ministry, the minister will pay visits to the two countries from 16 – 19 July 2024.  

During the visit, he will meet with his counterparts and other Senior Government Ministers and Officials.

The Foreign Minister will also formally open the new Sri Lanka Embassy in Bucharest which commenced operation in 2023. (Newswire)

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Foreign Minister Ali Sabry says some fellow South Asian countries have applauded Sri Lanka for its quick recovery from its economic crisis.

Minister Ali Sabry said Pakistan has sought advice from Sri Lanka’s Central Bank and Treasury to help address issues faced in its economy.

“Pakistan Interim PM Yusuf Raza Gilani has requested Sri Lanka to send a team from our Central Bank and Treasury to seek advice on fixing its economic issues,” he said. 

Minister Ali Sabry further said Bangladesh PM, Sheikh Hasina said she was criticised for loaning US$ 200 million to Sri Lanka, but Sri Lanka has proven the critics wrong by repaying the loan. 

“During a discussion with our President last September, the Bangladesh PM said many had criticised her move to loan money to Sri Lanka, stating that Bangladesh cannot afford it and Sri Lanka will not be able to repay it. She said however, Sri Lanka not only repaid the loan, but paid it with interest as well, proving all the critics wrong,” he said. 

The Foreign Minister said that PM Sheikh Hasina also revealed that Bangladesh gave the loan amidst such a situation as this was the first time Sri Lanka had sought help of such a level of seriousness. 

Minister Ali Sabry said the world looks at Sri Lanka with awe for having dealt with its economic crisis successfully in a short period.

Foreign Minister Ali Sabry made the statements while addressing the Parliament on Thursday. (Newswire) 

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Foreign Minister Ali Sabry has engaged in discussions with Singaporean counterpart Vivian Balakrishnan and the Senior Minister of Singapore Lee Hsien Loong during his first official visit to Singapore.

Issuing a statement on the meeting, Singaporean Foreign Minister Vivian Balakrishnan said Singapore and Sri Lanka share warm and longstanding ties.

He further said that a wide-ranging discussion was held on new areas of bilateral cooperation such as the green and digital economies.

“While the Sri Lankan community in Singapore is small, they have made significant contributions to Singapore’s development. Singapore’s first foreign minister Mr S Rajaratnam was of Sri Lankan heritage. There are also Sri Lankan influences in Singapore’s architecture, street names, and culture. Sri Lanka’s well-known restaurant, Ministry of Crab, has also just opened its first outlet in Dempsey!

“Honoured to host lunch for Sri Lankan Foreign Minister Ali Sabry. We had a wide-ranging discussion on new areas of bilateral cooperation such as the green and digital economies. As fellow small island states, we are like-minded partners on the international stage, and share common interests in addressing climate change and upholding the rule of law. I wish Minister Sabry a fruitful visit to Singapore,” he added. 

Also commenting on his meeting, Senior Minister of Singapore Lee Hsien Loong said a good discussion was held on ways to enhance bilateral cooperation in areas such as trade and investment, climate change, food security and capacity building.

“Glad to meet Sri Lanka Minister of Foreign Affairs Ali Sabry today. Minister Sabry is in Singapore for his first official visit. Minister Sabry updated me on the progress of Sri Lanka’s economy. We had a good discussion on ways to enhance our bilateral cooperation in areas such as trade and investment, climate change, food security and capacity building. We also exchanged views on regional developments.

“Singapore and Sri Lanka commemorate the 55th anniversary of diplomatic relations next year. I am confident that we will find many more opportunities to strengthen people-to-people exchanges to benefit both countries. I wish Minister Sabry a pleasant stay in Singapore,” he added. (Newswire)

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Sri Lanka will wrap up talks with international bondholders on restructuring $12.5 billion in debt within a few weeks, Foreign Minister Ali Sabry said in an interview at the Reuters NEXT conference in Singapore on Tuesday.

According to Reuters, Minister Sabry said that Sri Lanka will also seek to balance its ties with key creditors India and China to ensure that there is no difference in dealing with the two.

“Hopefully within a couple of weeks,” Sabry said when asked when the nation’s bond restructuring efforts with creditors will be finished.

“Towards the end of this month, officially, we are done and dusted with the restructuring process, then of course, in line with that, we need to start payment,” he said.

Sri Lanka secured a provisional agreement with some of its bondholders to move forward on restructuring its international bonds last week but now needs the other private creditors and the International Monetary Fund (IMF) to also agree.

The country, which has $37 billion in external debt in total, clinched an agreement with its official creditors including Japan, China and India in late June to restructure $10 billion in debt.

In total, the debt rework is estimated to save Sri Lanka $8 billion in write-offs and delay capital repayments by at least four years.

Sri Lanka will use this opportunity to restart about a dozen stalled, foreign-funded development projects and promote economic growth, Minister Sabry said. (Newswire)

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