Sri Lanka

Sri Lanka combines an executive presidency with a parliament elected by proportional representation. President Anura Kumara Dissanayake was elected in September 2024. His National People’s Power coalition then won 159 of 225 seats in the November 2024 parliamentary election, a two-thirds majority. The government’s agenda centres on economic recovery, anti-corruption measures and public-sector reform. Sri Lanka is in a four-year IMF Extended Fund Facility of about US$3 billion, approved in March 2023. IMF staff reached agreement on the seventh review in October 2026. Board approval is linked to a 2027 Budget in line with programme parameters and to progress on debt restructuring, which the IMF describes as largely completed. Recovery and reconstruction after Cyclone Ditwah, which struck in late 2025, is a public investment priority. Provincial council elections, not held for over a decade, are pending new legal provisions. Sri Lanka is a member of the Commonwealth, SAARC and BIMSTEC. Key regulators include the Central Bank of Sri Lanka and the Securities and Exchange Commission.