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Friday September 11th, 2026

Sri Lanka needs USD 2.0 bn to cut down road deaths by half: World Bank

File photo of Passara bus accident in May 2021 (Source: Facebook)

ECONOMYNEXT – Sri Lanka will need 2 billion US dollars of investment over the next 10 years to cut road crash fatalities by 50 percent, which will also be a drag on economic growth, the World Bank said.

According to data cited by the World Bank, Sri Lanka records an average of 38,000 crashes annually resulting in 3,000 deaths and 8,000 injuries.

“The estimated annual road crash deaths per capita is the highest among its immediate neighbors in South Asia and five times that of the best performing countries in the world,” the World Bank said in a statement.

Over two thirds of road crash victims in Sri Lanka are between the working ages of 15-64 years, the report said.

Of that 90 percent of crash victims are pedestrians, cyclists, and motorcyclists.

The World Bank estimates that road crash fatalities and injuries could cost countries like Sri Lanka between 3-5 percent of GDP annually.

“High road crash fatality and injury rates on Sri Lanka’s roads are undermining the economic growth and progress made over the past decade on reducing poverty and boosting prosperity.

“It is estimated that Sri Lanka will require an additional investment of almost 2 billion dollars over the coming decade if it is to achieve the Sustainable Development Goal 3.6 target of a 50 percent reduction in national road crash fatalities,” the report said.

The World Bank said if immediate measures aren’t taken, the numbers would climb steadily risking a country’s health, well-being, human capital, and economic growth.

The lender has also identified that the cause for mounting road accidents is because of underinvestment in targeted initiatives.

It calls for a long term commitment from the government of Sri Lanka for investments on road safety to be effective.

Some of the initiatives it suggests are:

  • Strengthening safe infrastructure design to ensure the protection of all road users and inclusion of roadside communities
  • Establishing robust vehicle and driver licensing systems that are accessible by law enforcement agencies and regulatory authorities before the full power of safety compliance regimes can be exercised
  • Facilitating inclusive road user policies and integrated land use/transport planning to ensure urban and rural roads are safe and accessible for all road users
  • Prioritising speed management in all planning and policy considerations addressing infrastructure, vehicle, and road user safety issues

The World Bank also noted that there are positive signs from the government in this regard such as the proposed establishment of the National Road Safety Commission and a national road crash database. (Colombo/Nov05/2021)

Sri Lanka sells extra Rs8bn Treasury bills after auction

ECONOMYNEXT – Sri Lanka has sold 8,000 million rupees of treasury bills offered on tap at an average rate of 9.24 percent, the public debt management office said, bringing the total of bills sold this week to 88 billion rupees.

Total market subscription was 8,000 million rupees.

The debt office sold a 6-month bill at 9.24 percent.

On Wednesday (9) the debt office raised 80 billion rupees of 3, 6 and 12 month bills.

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Sri Lanka Treasury bill yields dip across longer terms, Rs80bn sold

The 3-month and 6-month bills were later offered on tap. (Colombo/Sep11/2026)

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17,000 applications flood Sri Lanka ministry for 500 state sector jobs

ECONOMYNEXT – Sri Lanka’s Ministry of Buddhasasana, Religious and Cultural Affairs had called for applications to fill 500 vacancies in 25 state institutions under it and received 17,000 applications, Minister Hiniduma Sunil Senevi told Parliament.

The public sector recruitment drive was to resolve labour shortages across the state institutions, he said, including the Central Cultural Fund and the Department of Archaeology.

“All 25 institutions under my ministry, including the Fund and the Department of Archaeology, are places facing severe vacancies,” Senevi said.

Recruitment is proceeding rapidly, with a large round of appointments ranging from executive grades downward recently conducted for both institutions.

The lack of recruitment over an extended period had created critical operational gaps across the cultural sector, he claimed such as a shortage of 850 watchmen in the Department of Archaeology.

Addressing staffing concerns raised regarding locations such as Gal Vihara, Senevi said the Archaeology Department mainly needs watchmen and work assistants to maintain operations.

“The closing date to recruit 500 work assistants was just the other day. Believe it or not, over 17,000 applications have been received,” Senavi said. (Colombo/Sep11/2026)

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Sri Lanka officials undergo IMF-backed debt sustainability training

ECONOMYNEXT – A 5-day training course on the Sovereign Risk and Debt Sustainability Framework (SRDSF), held in Colombo, focused on developing the technical skills of Sri Lankan officials and international participants.

The IMF South Asia Regional Training and Technical Assistance Center (SARTTAC) organized the training on the SRDSF at the Taj Samudra from September 7 to 11, as part of the IMF’s capacity development program.

The event brings together international participants alongside officials from several Sri Lankan institutions, including the Public Debt Management Office (PDMO) and the Central Bank of Sri Lanka.

“The training focuses on enhancing participants’ technical skills to assess sovereign risks, evaluate debt sustainability, and measure the impact of macroeconomic and financing shocks on public debt, while fostering knowledge sharing and the exchange of international best practices,” the Ministry of Finance said.

Director General of Public Debt Management Office, Sri Lanka highlighted the importance of robust analytical capabilities in guiding sound, evidence-based public debt decisions.

“The training offers a vital opportunity for local officials, particularly within the PDMO to adopt international approaches to debt sustainability analysis and Sovereign risk assessment.”

The expertise gained through the training will strengthen Sri Lanka’s ability to identify and manage emerging sovereign risks within a sustainable financial framework, the ministry said. (Colombo/Sep11/2026)

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Sri Lanka stocks trade down on Friday, Melstacorp and Sampath Bank drag

ECONOMYNEXT – Sri Lanka’s Colombo Stock Exchange indices were trading down on Friday morning, CSE data showed, with the benchmark All Share Price Index moving down 0.23 percent.

The ASPI was down 48.25 points at 21,309.49, while the more liquid S&P SL20 was down 0.03 percent, or 1.56 points, at 6,002.36.

Positive contributors to the ASPI were ACL Cables (up 0.74 percent at 95.60 rupees), Industrial Asphalts (Ceylon) (up 16.67 percent at 0.70 rupees), and RIL Property (up 0.83 percent at 24.30 rupees).

Melstacorp (down 1.08 percent at 184.00 rupees), Sampath Bank (down 0.36 percent at 139.00 rupees), Royal Ceramics Lanka (down 1.44 percent at 47.80 rupees), and Ceylon Tobacco Company (down 0.54 percent at 1,780.00 rupees) were top negative contributors.

Market turnover was 221.65 million rupees. Capital goods led turnover with 89.85 million rupees.

Ramboda Falls announced an interim dividend of 0.50 rupees per share for the financial year 2026/2027, with the XD date set for September 21, 2026, and payment dispatch scheduled for October 8, 2026.

Shares of Ramboda Falls were trading up 1.27 percent at 24.00 rupees. (Colombo/September11/2026)

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Sri Lanka economic summit to focus on building shock-resilient economy

ECONOMYNEXT – The Sri Lanka Economic & Investment Summit 2026, SLEIS 2026, next month will focus on how the country can maintain its growth momentum while preparing for the challenges ahead, organizers said.

Policymakers, business leaders and international experts will meet at the event, organised by The Ceylon Chamber of Commerce on October 12-13, to examine how Sri Lanka can build greater resilience.

Titled “Beyond Crisis Management: Building a Shock-Resilient Sri Lankan Economy,” the session will examine the vulnerabilities exposed by recent economic and external shocks and consider what needs to be put in place to ensure that future disruptions do not repeatedly set back economic progress.

Lilia Aleksanyan, Senior Country Economist for Sri Lanka – Asian Development Bank, will deliver the keynote address.

A panel discussion will follow featuring Chandranath Amarasekara, Senior Deputy Governor – Central Bank of Sri Lanka, Sabrina Esufally, Executive Director – Hemas Holdings, and Roshan Perera, Consultant – Centre for Poverty Analysis and Former Director – CBSL.

The discussion will be moderated by Dhananath Fernando, Chief Executive Officer -Advocata Institute.

The session will consider how Sri Lanka can strengthen macroeconomic stability, safeguard livelihoods and improve the resilience of businesses and key economic institutions.

It will also examine the role of international partnerships, investment, innovation and business leadership in building an economy that can adapt to changing conditions without losing sight of longer-term development goals.

The discussion will consider what needs to be put in place beforehand, including stronger institutions, sound economic policies, greater diversification, resilient businesses and the capacity to respond quickly when external or domestic pressures emerge. (Colombo/Sep11/2026)

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Sri Lanka’s Sampath Bank appoints Dilip de S Wijeyeratne deputy chairman

ECONOMYNEXT – Sri Lanka lender Sampath Bank said it had appointed Dilip de S Wijeyeratne as deputy chairman, effective September 10.

Wijeyeratne has experience across banking, finance, risk management and compliance, investment banking and treasury, complemented by a strong understanding of corporate governance, strategic planning and financial markets, the bank said.

This will support the bank’s focus on advancing data-driven decision-making and the intelligent application of artificial intelligence across the organisation.

“Mr. Wijeyeratne’s experience and strategic perspective will complement the Bank’s efforts to harness data and emerging technologies, including AI, to sharpen decision-making, enhance operational effectiveness and create enduring value for customers, shareholders, employees and other stakeholders.”

Wijeyeratne’s association with Sampath Bank spans nearly eight years.

He joined the bank as a non-independent, non-executive director in November 2018 and was appointed an independent director in August 2019.

He served as senior independent director from May 2022 and continued as an independent, non-executive director from June 2026.

A senior finance and banking professional and principal consultant, Wijeyeratne provides advisory services to organisations across West Asia, Sri Lanka and Australia.

His career includes senior roles with HSBC Group in Bahrain, where he held responsibility for finance and operations, global markets and treasury, corporate treasury sales and asset and liability management.

He subsequently moved into entrepreneurship and advisory services, providing financial and strategic consultancy to private and public sector organisations.

Wijeyeratne serves as a director of Singer (Sri Lanka) and Hayleys Fibre, and as a director of Janashakthi Insurance.

He is a Fellow Member of the Institute of Chartered Accountants of Sri Lanka, a Fellow Member of the Chartered Institute of Management Accountants, UK, and a Graduate Member of the Australian Institute of Company Directors.
(Colombo/Sep11/2026)

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