The International Monetary Fund (IMF) said Sri Lanka has “many challenges” and called for Colombo to pick up the pace of slow structural reforms in its third review of an Extended Fund Facility for the government.

The agreed program will see Sri Lanka given approximately US$ 1.5 billion over 36 months by the IMF under conditions laid out by the global financial body.

The Sri Lankan military continued its militarisation of the North-East last week, as it held a series of civilian activities to mark the New Year.

A TNA local government candidate was arrested for assaulting a neighbour on Thursday.
Nagarasa Pakeerathan who is standing in the divisional council (Prathesiya sabai) elections for Valikamam South-West was arrested by Manippay police after a neighbour complained that he had assaulted her during an argument outside his house.

The president's Sri Lankan Freedom Party aired Liberation Tigers of Tamil Eelam (LTTE) songs at its campaign rally in Jaffna on Friday in a bid to win over Tamil voters. 

The SLFP's airing of the songs comes despite the ongoing arrest and detention of Tamils under the draconian Prevention of Terrorism Act (PTA) who are accused of shared LTTE related photos and other materials. 

A large number of "criminals and rapists" are standing for election in Sri Lanka's upcoming local government elections, the country's election monitor, People’s Action for Free and Fair Elections (PAFFREL) was quoted by Ada Derana as saying this week. 

PAFFREL's executive director, Rohana Hettiarachchi told reporters at a press briefing on Thursday they had received 243 complaints to date, 182 of which were confirmed. 

Sri Lanka's former navy spokesperson who was arrested last year over the enforced disappearance of Tamil youths during 2008 - 2009 was on Friday released on bail. 

Commodore D K P Dassanayake and five others were charged with aiding and abetting the abduction of 11 Tamil youths. 

The Colombo High Court judge, Manilal Waidyaratne released the six on a cash bail of Rs 100,000 with a Rs 1 million sureties on three. 

Sri Lanka's Supreme court concluded its hearing on Thursday over whether the Sri Lankan president Maithripala Sirisena could hold his office for 6 years from the 9th January 2015, when he was sworn in as president. 

Mr Sirisena had written to the Supreme Court asking if he could extend his term to 6 years, despite the 19th Amendment to the constitution stipulating that a president's term should not exceed 5 years. 

The Amendment, brought in by the unity government, was heralded as a sign of its 'good governance' measures. 

Britian’s Prince Edward is set to visit Sri Lanka at the end of this month, where he will be present in Colombo for Independence Day.

The British High Commission in Sri Lanka said the visits will celebrate “the long-standing friendship between the two countries and shared interest in the Commonwealth, youth development and education”.

As part of his visit, Prince Edward, who holds the title of Earl of Wessex, will also visit Trincomalee, Batticaloa and Nuwara Eliya.

Whilst Sri Lanka’s Independence Day is marked by parades and military displays, Tamils across the North-East have previously held large protests to mark the occasion.

Sri Lankan troops further consolidated their involvement in religious activities in the North-East, as the military held a ceremony last week, where they met with the newly appointed Bishop of Mannar.

The Sri Lankan government is looking to raise US$500 million through development bonds, as it struggles to repay a record high debt.

Reuters reports the Colombo must repay an estimated 1.97 trillion rupees ($12.85 billion) in 2018 which includes $2.9 billion of foreign loans, and a total of $5.36 billion of interest. The sum is a record high for the Sri Lankan government.

Sri Lanka’s Central Bank announced this week that it plans to raise $500 million in 2-year, 3-year, 4-year, and 5-year Sri Lanka Development Bonds (SLDB).