Two government ministers who defected from Sri Lanka's main opposition were sacked from the cabinet Friday after the Supreme Court upheld disciplinary action against them.

Sri Lankan Supreme Court upholds expulsion of defected ministers

"The situation in Sri Lanka and Bangladesh are very different. Sri Lanka was politically and economically down during that period, but under Sheikh Hasina it is not same in Bangladesh. The main problems in Bangladesh are the quota system, corruption", says Dayasiri Jayasekara, Sri Lanka Freedom Party's (SLFP) General Secretary while speaking to WION's Dasuni Athauda.

'Sri Lanka and Bangladesh's situations are very different', says Dayasiri Jayasekara

Sri Lanka's Minister of Water Supply and Estate Infrastructure Development, Jeevan Thondaman speaks to WION's Dasuni Athouda on upcoming elections in the country. Watch in!

'Nepotism can be a sword or shield too, depending on how you use it', says Jeevan Thondaman

Sri Lanka's Presidential candidate Sarath Fonseka who is on Delhi visit, spoke to WION on his key focus ahead of the elections. Speaking to our diplomatic correspondent Sidhant Sibal, he said, "I have the courage and confidence. I hope people will understand". Fonseka is former Sri Lankan Army chief and architect of the military action that led to the elimination of terror group LTTE. He also spoke on Hasina's exit.

Sri Lankan Presidential candidate Sarath Fonseka on WION

Sri Lanka will hold presidential elections on the 21st of September ahead of the same Justice Minister Wijeyadasa Rajapakshe resigned from his post and will be running for president. WION's correspondent Dasuni spoke with him about the current situation of the SLPP and the cause of the split. Watch in!

'Gotabaya Rajapaksa asked me to come for elections', says Wijeyadasa Rajapakshe

Sri Lanka will hold presidential elections on the 21st of September ahead of the same Justice Minister Wijeyadasa Rajapakshe resigned from his post and will be running for president. WION's correspondent spoke with him about the current situation of the SLPP and the cause of the split. Keep watching to know more!

Sri Lanka elections: Were Rajapaksas behind Sri Lanka's downfall?

After deciding not to back President Ranil Wickremesinghe, Sri Lanka’s largest political party in parliament split into two with 92 lawmakers pledging support for his re-election. Watch in for more details!

Sri Lanka: 92 lawmakers back Ranil Wickremesinghe

Sri Lanka elections | Wijeyadasa Rajapakshe: 'People accepted me'

Sri Lankan President Ranil Wickremesinghe failed on Monday to secure the backing of the biggest political party in parliament for his re-election bid, posing a major challenge to his prospects in the Sept. 21 vote.

Nearly 17 million of Sri Lanka’s 22 million population are eligible to cast ballots in the vote that is crucial to determine the future of reforms in the South Asian island nation weathering its worst financial crisis in decades.

Of the various candidates, Wickremesinghe is seen as the most market- and reform-friendly option. He took over the top job in July 2022 as the economy crumbled under a severe financial crisis triggered by a record shortfall of foreign exchange reserves.

But with just one seat in parliament, he needs the support of the Sri Lanka Podujana Peramuna (SLPP), which holds a parliamentary majority and counts former president Mahinda Rajapaksa and his brother as key members, to be a stronger contender.

Also watch |&nbsp;"All time high.." Sri Lankan Minister Tharaka Balasuriya on India-Sri Lanka ties | WION Exclusive

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Although the SLPP decision is a blow to Wickremesinghe, it does not take him out of the race entirely, as he is contesting as an independent candidate, and a breakaway faction of the SLPP and other opposition parties could end up supporting him.

“The politburo decided by a significant majority that Sri Lanka Podujana Peramuna will present a candidate under the SLPP party symbol,” SLPP General Secretary Salaga Kariyawasam told reporters after the party’s politburo meeting.

The SLPP candidate would be announced in the next few days, Kariyawasam added.

There was no immediate comment from Wickremesinghe or his office in response to the SLPP decision.

A source in Wickremesinghe’s United National Party said the outcome was expected.

“We are still expecting a group of SLPP members to support President Wickremesinghe as well as parliamentarians from minority parties,” said the source with direct knowledge of the matter. “This allows us to build a broader coalition across different parties and ethnic lines.”

Wickremesinghe’s predecessor, Gotabaya Rajapaksa, was the first sitting president to be ousted from power after thousands of disgruntled protesters occupied his office and official residence forcing him to flee the country and later resign.

Over the past two years, Wickremesinghe has overseen a fragile economic recovery securing a $2.9 billion International Monetary Fund (IMF) bailout programme that helped stem a fall in the rupee, tame runaway inflation, and rebuild dollar reserves.

Wickremesinghe also set the groundwork for Sri Lanka to start debt restructuring talks with its official creditors and bondholders.

But the pain from the financial fallout is far from over. Under the IMF programme Sri Lanka still has to increase tax revenue, fix loss making state companies, and finalise a $12.5 billion debt rework with bondholders.

Rising poverty levels, corruption and policy gridlock are also concerns, analysts said, adding that the crisis may have eroded the previously strong SLPP vote base, making the outcome of its alliance with Wickremesinghe unpredictable.

“People are silently waiting to give their decision on election day,” said political scientist Prof. Jayadeva Uyangoda.

“It is actually judgement time for Sri Lanka.”

Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION&nbsp;audience.

Sri Lankan President Ranil Wickremesinghe failed on Monday to secure the backing of the biggest political party in parliament for his re-election bid, posing a major challenge to his prospects in the Sept.

Sri Lankan President Ranil Wickremesinghe failed on Monday to secure the backing of the biggest political party in parliament for his re-election bid, posing a major challenge to his prospects in the Sept. 21 vote. Nearly 17 million of Sri Lanka’s 22 million population are eligible to cast ballots in the vote that is crucial to determine the future of reforms in the South Asian island nation weathering its worst financial crisis in decades. Of the various candidates, Wickremesinghe is seen as the most market- and reform-friendly option. He took over the top job in July 2022 as the economy crumbled under a severe financial crisis triggered by a record shortfall of foreign exchange reserves. But with just one seat in parliament, he needs the support of the Sri Lanka Podujana Peramuna (SLPP), which holds a parliamentary majority and counts former president Mahinda Rajapaksa and his brother as key members, to be a stronger contender. Also watch | "All time high.." Sri Lankan Minister Tharaka Balasuriya on India-Sri Lanka ties | WION Exclusive × Although the SLPP decision is a blow to Wickremesinghe, it does not take him out of the race entirely, as he is contesting as an independent candidate, and a breakaway faction of the SLPP and other opposition parties could end up supporting him. “The politburo decided by a significant majority that Sri Lanka Podujana Peramuna will present a candidate under the SLPP party symbol,” SLPP General Secretary Salaga Kariyawasam told reporters after the party’s politburo meeting. The SLPP candidate would be announced in the next few days, Kariyawasam added. There was no immediate comment from Wickremesinghe or his office in response to the SLPP decision. A source in Wickremesinghe’s United National Party said the outcome was expected. “We are still expecting a group of SLPP members to support President Wickremesinghe as well as parliamentarians from minority parties,” said the source with direct knowledge of the matter. “This allows us to build a broader coalition across different parties and ethnic lines.” Wickremesinghe’s predecessor, Gotabaya Rajapaksa, was the first sitting president to be ousted from power after thousands of disgruntled protesters occupied his office and official residence forcing him to flee the country and later resign. Over the past two years, Wickremesinghe has overseen a fragile economic recovery securing a $2.9 billion International Monetary Fund (IMF) bailout programme that helped stem a fall in the rupee, tame runaway inflation, and rebuild dollar reserves. Wickremesinghe also set the groundwork for Sri Lanka to start debt restructuring talks with its official creditors and bondholders. But the pain from the financial fallout is far from over. Under the IMF programme Sri Lanka still has to increase tax revenue, fix loss making state companies, and finalise a $12.5 billion debt rework with bondholders. Rising poverty levels, corruption and policy gridlock are also concerns, analysts said, adding that the crisis may have eroded the previously strong SLPP vote base, making the outcome of its alliance with Wickremesinghe unpredictable. “People are silently waiting to give their decision on election day,” said political scientist Prof. Jayadeva Uyangoda. “It is actually judgement time for Sri Lanka.” Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

'Judgement time for Sri Lanka' as President Wickremesinghe fails to get enough support for re-election bid

Sri Lanka's incumbent President Wickremesinghe has failed to get the backing of the country's largest political party for his re-election bid. Watch the video to find out more!

Sri Lanka elections: Wickremesinghe to contest as Independent

Sri Lanka's incumbent President Wickremesinghe has failed to get the backing of the country's largest political party for his re-election bid.

Sri Lanka: Wickremesinghe fails to get backing of SLPP

Sri Lankan President Ranil Wickremesinghe failed on Monday to secure the backing of the biggest political party in parliament for his re-election bid, posing a major challenge to his prospects in the September 21 vote.

Sri Lankan President Ranil Wickremesinghe fails to get backing of SLPP for re-election bid

Sri Lanka Elections 2024: Split in SLPP over support for Wickremesinghe?

Sri Lanka's cabinet has issued an apology to the Muslims for forcing cremations on Covid victims. The then President Gotabaya Rajapaksa banned burials despite facing heat from the UN Human Rights Council and other forums for violating Muslim funeral norms. Is this a pre-election strategy as the Presidential polls are nearing?

Sri Lanka to hold Presidential elections in Septemeber, five-week part of campaign released

Still struggling with a fragile economic recovery and discontent over the cost of living issues, Sri Lanka is all set to hold the Presidential election this year. The Election Commission of Sri Lanka said that the country will go to polls on September 21. Watch the video to find out more!

Sri Lanka Presidential Elections 2024: Will Wickremesinghe be back in the saddle?

Sri Lanka to hold Presidential Election on September 21; Wickremesinghe to contest as independent

Sri Lanka releases Presidential poll dates; five-week campaign part of released schedule

Sri Lanka's cabinet has issued an apology to the Muslims for forcing cremations on Covid victims. The then President Gotabaya Rajapaksa banned burials despite facing heat from the UN Human Rights Council and other forums for violating Muslim funeral norms.

Sri Lanka apologises to Muslims

Sri Lanka apologises to Muslims over forced cremations during Covid pandemic

Sri Lanka apologises for forcing cremations of Muslim Covid victims

Headlines of the hour: - Nepal plane crash: 18 dead, one survived - Ukrainian Foreign Minister in Beijing - Russia strikes Kharkiv with missiles and drones - Germany: Climate activists shut airport - New Zealand: Around 200,000 abused in care - Sri Lanka cuts rate amid recovery

Nepal plane crash: 18 dead, one survives | Russia strikes Kaharkiv with missiles

Sri Lanka's State Minister of Foreign Affairs Tharaka Balasuriya has said that India and Sri Lanka are working to trade in national currencies, a development that comes even as both sides have been focusing on financial connectivity.

Speaking to our diplomatic correspondent Sidhant Sibal, he said, " it makes more sense to pay for those goods in the local currency. So I think it's a very good proposal, and it will also be very easy for the Indian tourists to come and they come to Sri Lanka and pay in Indian Rupees".

Also read:&nbsp;<a href="https://www.wionews.com/south-asia/nepal-pm-prachanda-loses-floor-test-will-step-down-after-less-than-20-months-in-power-740255">Nepal PM Pushpa Kamal Dahal 'Prachanda' loses floor test</a>

The minister was in Delhi for the BIMSTEC grouping's foreign minister retreat. He termed the India-Sri Lanka ties being at "all-time high", and pointed to India's economic support during the financial crisis his country faced.

He explained, "India's role in helping Sri Lanka was fundamental in Sri Lanka making a quick recovery..". On BIMSTEC, he backed increased connectivity and focus on FTA within the 7 member grouping. He also spoke on the expansion of the sea bed issue, the Katchatheevu island issue etc. Full interview:

WION: How do you see India, and Sri Lanka ties?

Tharaka Balasuriya: It's always good to be back in Delhi. The last time I was here was for the Raisina dialogue. The relationship between Sri Lanka and India is at an all-time high. And we have our bilateral ties are very good. We are collaborating in different spheres. And I think what we need to do, is to make sure that some of the things which we have discussed will materialize in the future very soon. So, I will say that the relationship between Sri Lanka and India is at an all-time high.

WION: If you can talk about the current economic situation and the Indian support for your country.

Tharaka Balasuriya: "I wouldn't say we're out of the woods, we still have a long way to go. Our debt restructuring has pretty much finished bilateral and also we have made the agreements with the bondholders, but we need in terms of generating new revenue streams, we need to be looking at new avenues to generate new revenue streams, and India's role in helping Sri Lanka was fundamental in Sri Lanka making a quick recovery whereas the multinational institutions should have stepped in, in such a scenario, it took a little bit of time for the multilateral institutions to step in."

"So it was India who stepped in with the $4.5 billion loan. At that time, we had queues which were two or three miles long, we did not have cash, and we were short of medicine. It was very gloomy in Sri Lanka, but now I think you know, if you have visited Sri Lanka, you will see that most things are back to normal. And tourism is thriving. Tourists are back in numbers," he said.

Also read:&nbsp;<a href="https://www.wionews.com/world/north-korea-strongly-condemns-nato-summit-declaration-740380">North Korea condemns NATO summit declaration</a>

"The economy's doing quite well. In this year, &nbsp;the growth rate was 5.3% in the first quarter. So I think we are on the right track. And of course, in order to achieve that we also had to take very difficult measures, such as raising the taxes, such as not extending the public service and also such as making sure that reducing subsidies and making sure that the pricing was cost-based. So we had to go through a tough period but I am optimistic to say that most of it is now behind us,"&nbsp;Balasuriya said.

"And from my overseas travels, maybe one year back when you meet foreign dignitaries, the first thing they ask is how's the situation in Sri Lanka, is there food to eat? Most foreign dignitaries would ask those questions, but I think that you know now when you visit other countries, most of the foreign dignitaries are asking how are you able to make such a quick recovery. And also the interest in Sri Lanka from all over is growing due to its location. So I'm very optimistic for the medium term and the long term prospects of Sri Lanka,"&nbsp;Balasuriya added.

WION: India has also stepped up its support to Sri Lanka in terms of infrastructure development, whether it's the oil fields we have been talking about or whether it is providing training to your civil servants.

Tharaka Balasuriya: &nbsp;So yes, indeed. I think one of the new revenue streams which we are looking at is pertaining to energy. Both my President and Prime Minister Modi are interested in making Trincomalee an energy hub. We are also looking at grid connectivity with India. So we are looking at connectivity with India in different spheres, people-to-people connectivity is very important. They are looking at the sea connectivity, maybe restarting the ferry service, maybe on a roll on- roll off basis, ferries, then we are looking at the air connectivity. Now there are flights flying to Chennai, flying to Jaffna but we are also in discussions with India to increase the length of the tarmac, So, large planes can come to Jaffna. Then we are looking at grid connectivity. So, we are looking at connectivity with India in a large way.&nbsp;

WION: Are you also looking with India Sri Lanka and a third country for example, India, Japan and Sri Lanka when it comes to ports are India, Russia and Sri Lanka when it comes to the airports

Tharaka Balasuriya:&nbsp;Will you know depends on the industry I think, now if you look at the Mattala International Airport, it's India, Sri Lanka and Russia and from the perspective of Sri Lankans, the highest number of tourists come to Sri Lanka from India. The second place number is from Russia. So it makes all the sense to have a tri-party agreement and to make sure that more tourists visit Sri Lanka. So I think you know, we should not just be looking at India, but also through India, we should be looking at it as a gateway to the rest of South Asia and also to Southeast Asia.

WION: &nbsp;So, you mentioned connectivity. Now, one connectivity which has been discussed is the land connectivity between India and Sri Lanka. This was one of the key outcomes of the earlier visit of the Sri Lankan President. How's it going about and what's the view in Sri Lanka regarding it

Tharaka Balasuriya: It's proceeding well at the highest level. I think the terms of reference have been done and then also an RFP has been given to Sri Lanka. Now we need to select a consultant in that regard. The bridge itself will, I think, take about four years to build. So that will be a game changer. The BIMSTEC foreign ministers had a time with Prime Minister Modi ji, and one thing I again emphasized was the bridge. And one point that the Prime Minister made was that if you look at the EU, and if you look at South Asia or Southeast Asia, for that matter, what he pointed out was that the reason that the EU succeeded is simply because of connectivity. So you know, India and Sri Lanka or be it you know, the road network between India and Myanmar and Thailand, we need to improve connectivity in all its forms. So there'll be more business transactions taking place if there's better connectivity.

WION: So you mentioned bridges in four or five years any year you're looking at.

Tharaka Balasuriya: I hope construction on the bridge will start as soon as possible. I mean, just think in terms of tourist numbers. I believe that you know if you look at the internal tourists, local tourists, Tamil Nadu gets the most number of tourists, they get about 140 million tourists . Rameshwaram alone gets 10 million tourists. So whether Sri Lanka stands this. Sri Lanka at the moment, has about 1.1 million tourists this year. And we are looking to get 2.4 million tourists at the end of the year. I think you know if we have a bridge that 2.4 million or 5 million tourists coming from India can take place within months. We've been building walls for too long. So we need to build the bridges now.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/india-news/india-to-mark-emergency-day-june-25-to-be-observed-as-samvidhaan-hatya-diwas-740243">India to mark Emergency. June 25 to be observed as 'Samvidhaan Hatya Diwas'</a>

WION: Sri Lanka plans to expand its seabed. India also plans to expand its seabed, it has put up a proposal as well. What's the update? Like? Is this an issue that is a thorny one between India and Sri Lanka.

Tharaka Balasuriya: &nbsp;No, certainly, not. I think we know each country has a right to claim beyond 200 nautical miles. So if there are areas of contention, those areas can be discussed and resolved bilaterally and we plan on having discussions with India and resolving this matter amicably.

WION: Have you raised it with the Indian side so far?

Tharaka Balasuriya: No, this was the BIMSTEC meeting. So it wasn't a bilateral meeting. I did have a meeting with Dr. Ashok. But we didn't discuss this issue. There were other bilateral matters which we discussed in

WION: In the past, has this been discussed because it looks like an old proposal?

Tharaka Balasuriya: I don't think that it is a major issue, pertaining to this. We had a similar issue with the Maldivians and then we decided we would discuss it with the Maldivian government bilaterally and can be sorted out amicably. So I don't think these are areas of contention.&nbsp;

WION: Coming back to connectivity, I believe there's so much to talk about connectivity. Financial connectivity, we saw the UPI being agreed on between India and Sri Lanka that will help a lot of Indian tourists go into your country. What are the other proposals? We are looking at the usage of the Indian rupee. Is this also on the anvil?

Tharaka Balasuriya: Yes, I think, from the Sri Lanka side we become less dollar-dependent. If more Indian tourists come to Sri Lanka, you can pay for the Indian goods in Indian rupees, then you only save a lot of money in terms of commissions and converting all money to dollars and paying your receipts in dollars. So it makes more sense to pay for those goods locally in the local currency. So I think it's a very good proposal, and it will also be very easy for the Indian tourists to come and they come to Sri Lanka and pay in Indian Rupees.

WION: So is there work happening on trading in the national currencies between India and Sri Lanka?&nbsp;

Tharaka Balasuriya: Yes, the work is proceeding well and I think by next year we will have identified a certain number of locations where these machines/ATMs can be used in order to trade.

WION: There is another issue that maybe Sri Lanka and India might not see eye to eye. One is the visit of the Chinese research vessels. How have you assured New Delhi?

Tharaka Balasuriya: There's a moratorium which is in place and will be until the end of the year, and at the end of the year, we will renew our position. But we are also very interested in developing our own capacity. So I think once we develop our own capacity as a sovereign country, then we can do the research ourselves. So this in terms of Sri Lanka's issues is not a major priority. Of course time and again we have stated that we are very interested in India's security interest. We want to make sure that no country uses Sri Lanka in order to threaten India's security and we have given that assurance and we will work towards that. But we will also want to trade with other countries. &nbsp;Certainly, India does far more trade with China than you know Sri Lanka does with China. I think India's trade with China is about $140 billion, whereas Sri Lanka's trade with China is a fraction of that. So, perhaps, maybe even Sri Lanka can be an opportunity for these two countries to, to trade.

WION: Any conversation on Katchatheevu island?

Tharaka Balasuriya: That's an internal matter and it has not been raised by the Indian partners and it has been addressed in the 1970s. So I don't think that's a matter which we need to raise up. I think certain Indian politicians raised that matter from a historical perspective, to show that , from India's perspective, perhaps it was a mistake. But Indians have not raised the matter of Katchatheevu to Sri Lanka and on three or four occasions when the matter has been raised by the Indians, once when Sri Lanka was still a dominion of the United Kingdom, the Royal Air Force used for bombing purposes, India raised concerns. Then regarding the fishing rights, and then later on there were discussions on the islands being used by the smugglers. But I think historically, the sovereignty of the island has not been questioned. And I think it's a matter which is done and dusted.

WION: Last few questions this time on the multilateral aspect. You're here for the BIMSTEC foreign ministers meeting. Where do you see this grouping going forward?

Tharaka Balasuriya: I feel that you know, there's more political will. And I feel that you know, there's 2 billion people who have been represented in the BIMSTEC. And certainly, we need to have closer integration within the BIMSTEC. We have been talking about an FTA within the BIMSTEC. And certainly, certainly, I think An FTA should come into place hopefully, and there's more political will. Now just imagine BIMSTEC alone represents 2 billion people and in Thailand and Myanmar, are also represented in ASEAN. And then ASEAN represents a further 2 billion people. So you're talking about 4 billion people. So I would think that within the next few years, there will be a closer dialogue with the BIMSTEC members and it's only seven members so we can have close dialogue. One proposal which was agreed upon was at the United Nations, in September every year for the BIMSTEC foreign ministers also to meet and have discussions. So this was a foreign minister's retreat. These discussions were very open and frank. It was very informal and our ideas and suggestions were taken into consideration. So we will be looking at the verticals in terms of energy security, in terms of food security, and in terms of people's security. And in all these, the other subclasses can be put into the three areas.

WION: What are your hopes for the upcoming summit in Thailand?

Tharaka Balasuriya: &nbsp;We want the summit to be successful and we want the things to materialize in terms of BIMSTEC itself, it is 27 years old. So the charter was passed during our presidency. But we want something concrete to come out of the group. Now, if you say that you are a member of the EU, then you feel like you're a member of the EU, you know you can travel freely within each country. So I think you know in order for the BIMSTEC to be successful, people in these countries, ordinary people in these countries need to feel that there's an organization called BIMSTEC, and because of this organization, there are certain benefits that the people are gaining. We are also hopeful that you know, that FTA will come through in the BIMSTEC, and there are other areas such as medical visas, and e-Visas to India are allowed. So, there was an array of areas which we discussed.

Sri Lanka's State Minister of Foreign Affairs Tharaka Balasuriya has said that India and Sri Lanka are working to trade in national currencies, a development that comes even as both sides have been focusing on financial connectivity.

Sri Lanka's State Minister of Foreign Affairs Tharaka Balasuriya has said that India and Sri Lanka are working to trade in national currencies, a development that comes even as both sides have been focusing on financial connectivity. Speaking to our diplomatic correspondent Sidhant Sibal, he said, " it makes more sense to pay for those goods in the local currency. So I think it's a very good proposal, and it will also be very easy for the Indian tourists to come and they come to Sri Lanka and pay in Indian Rupees". Also read: Nepal PM Pushpa Kamal Dahal 'Prachanda' loses floor test The minister was in Delhi for the BIMSTEC grouping's foreign minister retreat. He termed the India-Sri Lanka ties being at "all-time high", and pointed to India's economic support during the financial crisis his country faced. He explained, "India's role in helping Sri Lanka was fundamental in Sri Lanka making a quick recovery..". On BIMSTEC, he backed increased connectivity and focus on FTA within the 7 member grouping. He also spoke on the expansion of the sea bed issue, the Katchatheevu island issue etc. Full interview: WION: How do you see India, and Sri Lanka ties? Tharaka Balasuriya: It's always good to be back in Delhi. The last time I was here was for the Raisina dialogue. The relationship between Sri Lanka and India is at an all-time high. And we have our bilateral ties are very good. We are collaborating in different spheres. And I think what we need to do, is to make sure that some of the things which we have discussed will materialize in the future very soon. So, I will say that the relationship between Sri Lanka and India is at an all-time high. WION: If you can talk about the current economic situation and the Indian support for your country. Tharaka Balasuriya: "I wouldn't say we're out of the woods, we still have a long way to go. Our debt restructuring has pretty much finished bilateral and also we have made the agreements with the bondholders, but we need in terms of generating new revenue streams, we need to be looking at new avenues to generate new revenue streams, and India's role in helping Sri Lanka was fundamental in Sri Lanka making a quick recovery whereas the multinational institutions should have stepped in, in such a scenario, it took a little bit of time for the multilateral institutions to step in." "So it was India who stepped in with the $4.5 billion loan. At that time, we had queues which were two or three miles long, we did not have cash, and we were short of medicine. It was very gloomy in Sri Lanka, but now I think you know, if you have visited Sri Lanka, you will see that most things are back to normal. And tourism is thriving. Tourists are back in numbers," he said. Also read: North Korea condemns NATO summit declaration "The economy's doing quite well. In this year, the growth rate was 5.3% in the first quarter. So I think we are on the right track. And of course, in order to achieve that we also had to take very difficult measures, such as raising the taxes, such as not extending the public service and also such as making sure that reducing subsidies and making sure that the pricing was cost-based. So we had to go through a tough period but I am optimistic to say that most of it is now behind us," Balasuriya said. "And from my overseas travels, maybe one year back when you meet foreign dignitaries, the first thing they ask is how's the situation in Sri Lanka, is there food to eat? Most foreign dignitaries would ask those questions, but I think that you know now when you visit other countries, most of the foreign dignitaries are asking how are you able to make such a quick recovery. And also the interest in Sri Lanka from all over is growing due to its location. So I'm very optimistic for the medium term and the long term prospects of Sri Lanka," Balasuriya added. WION: India has also stepped up its support to Sri Lanka in terms of infrastructure development, whether it's the oil fields we have been talking about or whether it is providing training to your civil servants. Tharaka Balasuriya: So yes, indeed. I think one of the new revenue streams which we are looking at is pertaining to energy. Both my President and Prime Minister Modi are interested in making Trincomalee an energy hub. We are also looking at grid connectivity with India. So we are looking at connectivity with India in different spheres, people-to-people connectivity is very important. They are looking at the sea connectivity, maybe restarting the ferry service, maybe on a roll on- roll off basis, ferries, then we are looking at the air connectivity. Now there are flights flying to Chennai, flying to Jaffna but we are also in discussions with India to increase the length of the tarmac, So, large planes can come to Jaffna. Then we are looking at grid connectivity. So, we are looking at connectivity with India in a large way. WION: Are you also looking with India Sri Lanka and a third country for example, India, Japan and Sri Lanka when it comes to ports are India, Russia and Sri Lanka when it comes to the airports Tharaka Balasuriya: Will you know depends on the industry I think, now if you look at the Mattala International Airport, it's India, Sri Lanka and Russia and from the perspective of Sri Lankans, the highest number of tourists come to Sri Lanka from India. The second place number is from Russia. So it makes all the sense to have a tri-party agreement and to make sure that more tourists visit Sri Lanka. So I think you know, we should not just be looking at India, but also through India, we should be looking at it as a gateway to the rest of South Asia and also to Southeast Asia. WION: So, you mentioned connectivity. Now, one connectivity which has been discussed is the land connectivity between India and Sri Lanka. This was one of the key outcomes of the earlier visit of the Sri Lankan President. How's it going about and what's the view in Sri Lanka regarding it Tharaka Balasuriya: It's proceeding well at the highest level. I think the terms of reference have been done and then also an RFP has been given to Sri Lanka. Now we need to select a consultant in that regard. The bridge itself will, I think, take about four years to build. So that will be a game changer. The BIMSTEC foreign ministers had a time with Prime Minister Modi ji, and one thing I again emphasized was the bridge. And one point that the Prime Minister made was that if you look at the EU, and if you look at South Asia or Southeast Asia, for that matter, what he pointed out was that the reason that the EU succeeded is simply because of connectivity. So you know, India and Sri Lanka or be it you know, the road network between India and Myanmar and Thailand, we need to improve connectivity in all its forms. So there'll be more business transactions taking place if there's better connectivity. WION: So you mentioned bridges in four or five years any year you're looking at. Tharaka Balasuriya: I hope construction on the bridge will start as soon as possible. I mean, just think in terms of tourist numbers. I believe that you know if you look at the internal tourists, local tourists, Tamil Nadu gets the most number of tourists, they get about 140 million tourists . Rameshwaram alone gets 10 million tourists. So whether Sri Lanka stands this. Sri Lanka at the moment, has about 1.1 million tourists this year. And we are looking to get 2.4 million tourists at the end of the year. I think you know if we have a bridge that 2.4 million or 5 million tourists coming from India can take place within months. We've been building walls for too long. So we need to build the bridges now. Also read: India to mark Emergency. June 25 to be observed as 'Samvidhaan Hatya Diwas' WION: Sri Lanka plans to expand its seabed. India also plans to expand its seabed, it has put up a proposal as well. What's the update? Like? Is this an issue that is a thorny one between India and Sri Lanka. Tharaka Balasuriya: No, certainly, not. I think we know each country has a right to claim beyond 200 nautical miles. So if there are areas of contention, those areas can be discussed and resolved bilaterally and we plan on having discussions with India and resolving this matter amicably. WION: Have you raised it with the Indian side so far? Tharaka Balasuriya: No, this was the BIMSTEC meeting. So it wasn't a bilateral meeting. I did have a meeting with Dr. Ashok. But we didn't discuss this issue. There were other bilateral matters which we discussed in WION: In the past, has this been discussed because it looks like an old proposal? Tharaka Balasuriya: I don't think that it is a major issue, pertaining to this. We had a similar issue with the Maldivians and then we decided we would discuss it with the Maldivian government bilaterally and can be sorted out amicably. So I don't think these are areas of contention. WION: Coming back to connectivity, I believe there's so much to talk about connectivity. Financial connectivity, we saw the UPI being agreed on between India and Sri Lanka that will help a lot of Indian tourists go into your country. What are the other proposals? We are looking at the usage of the Indian rupee. Is this also on the anvil? Tharaka Balasuriya: Yes, I think, from the Sri Lanka side we become less dollar-dependent. If more Indian tourists come to Sri Lanka, you can pay for the Indian goods in Indian rupees, then you only save a lot of money in terms of commissions and converting all money to dollars and paying your receipts in dollars. So it makes more sense to pay for those goods locally in the local currency. So I think it's a very good proposal, and it will also be very easy for the Indian tourists to come and they come to Sri Lanka and pay in Indian Rupees. WION: So is there work happening on trading in the national currencies between India and Sri Lanka? Tharaka Balasuriya: Yes, the work is proceeding well and I think by next year we will have identified a certain number of locations where these machines/ATMs can be used in order to trade. WION: There is another issue that maybe Sri Lanka and India might not see eye to eye. One is the visit of the Chinese research vessels. How have you assured New Delhi? Tharaka Balasuriya: There's a moratorium which is in place and will be until the end of the year, and at the end of the year, we will renew our position. But we are also very interested in developing our own capacity. So I think once we develop our own capacity as a sovereign country, then we can do the research ourselves. So this in terms of Sri Lanka's issues is not a major priority. Of course time and again we have stated that we are very interested in India's security interest. We want to make sure that no country uses Sri Lanka in order to threaten India's security and we have given that assurance and we will work towards that. But we will also want to trade with other countries. Certainly, India does far more trade with China than you know Sri Lanka does with China. I think India's trade with China is about $140 billion, whereas Sri Lanka's trade with China is a fraction of that. So, perhaps, maybe even Sri Lanka can be an opportunity for these two countries to, to trade. WION: Any conversation on Katchatheevu island? Tharaka Balasuriya: That's an internal matter and it has not been raised by the Indian partners and it has been addressed in the 1970s. So I don't think that's a matter which we need to raise up. I think certain Indian politicians raised that matter from a historical perspective, to show that , from India's perspective, perhaps it was a mistake. But Indians have not raised the matter of Katchatheevu to Sri Lanka and on three or four occasions when the matter has been raised by the Indians, once when Sri Lanka was still a dominion of the United Kingdom, the Royal Air Force used for bombing purposes, India raised concerns. Then regarding the fishing rights, and then later on there were discussions on the islands being used by the smugglers. But I think historically, the sovereignty of the island has not been questioned. And I think it's a matter which is done and dusted. WION: Last few questions this time on the multilateral aspect. You're here for the BIMSTEC foreign ministers meeting. Where do you see this grouping going forward? Tharaka Balasuriya: I feel that you know, there's more political will. And I feel that you know, there's 2 billion people who have been represented in the BIMSTEC. And certainly, we need to have closer integration within the BIMSTEC. We have been talking about an FTA within the BIMSTEC. And certainly, certainly, I think An FTA should come into place hopefully, and there's more political will. Now just imagine BIMSTEC alone represents 2 billion people and in Thailand and Myanmar, are also represented in ASEAN. And then ASEAN represents a further 2 billion people. So you're talking about 4 billion people. So I would think that within the next few years, there will be a closer dialogue with the BIMSTEC members and it's only seven members so we can have close dialogue. One proposal which was agreed upon was at the United Nations, in September every year for the BIMSTEC foreign ministers also to meet and have discussions. So this was a foreign minister's retreat. These discussions were very open and frank. It was very informal and our ideas and suggestions were taken into consideration. So we will be looking at the verticals in terms of energy security, in terms of food security, and in terms of people's security. And in all these, the other subclasses can be put into the three areas. WION: What are your hopes for the upcoming summit in Thailand? Tharaka Balasuriya: We want the summit to be successful and we want the things to materialize in terms of BIMSTEC itself, it is 27 years old. So the charter was passed during our presidency. But we want something concrete to come out of the group. Now, if you say that you are a member of the EU, then you feel like you're a member of the EU, you know you can travel freely within each country. So I think you know in order for the BIMSTEC to be successful, people in these countries, ordinary people in these countries need to feel that there's an organization called BIMSTEC, and because of this organization, there are certain benefits that the people are gaining. We are also hopeful that you know, that FTA will come through in the BIMSTEC, and there are other areas such as medical visas, and e-Visas to India are allowed. So, there was an array of areas which we discussed.

India, Sri Lanka looking at trading in national currencies: Sri Lankan Minister Balasuriya

Sri Lankan Minister of state in ministry of foreign affairs Tharaka Balasuriya has termed India-Sri Lanka ties "at all time high" and thanked India for its support during the economic crises. India extended support to Sri Lanka with a package of over $4 bn. Speaking to our diplomatic correspondent Siddhant Sibbal, he said, "We are looking at connectivity with India in a large way", and backed trading in National currencies.

"All time high.." Sri Lankan Minister Tharaka Balasuriya on India Sri Lanka ties | WION Exclusive

Sri Lanka's T20 captain Wanindu Hasaranga resigned Thursday ahead of India's white ball tour of the island later this month, the cricket board said.

The 26-year-old all-rounder quit following Sri Lanka's early exit from the T20 World Cup in June.

Sri Lanka Cricket said Hasaranga decided to give up the captaincy and remain in the side as a player in the "best interest" of the team.

“Sri Lanka will always have my utmost best efforts as a player, and I will support and stand by my team and leadership as always,” he was quoted as saying in his resignation letter to the board.

No replacement was announced and Kusal Mendis remained the country's ODI skipper with Dhananjaya de Silva staying on as Test captain.

Hasaranga's resignation comes days after former skipper Sanath Jayasuriya, 55, was appointed "interim" coach until a permanent replacement for Chris Silverwood is named.

Former England coach Silverwood, 49, quit Sri Lanka's national side for &nbsp;"personal reasons", according to Sri Lanka Cricket, which thanked him for his "valuable contributions during his tenure".

ALSO READ |&nbsp;<a href="https://www.wionews.com/cricket/there-is-lot-to-say-former-pakistan-pacer-wahab-riaz-reacts-after-being-sacked-from-pcb-selection-panel-739775">There is lot to say: Former Pakistan pacer Wahab Riaz reacts after being sacked from PCB selection panel</a>

Sri Lanka won only one match at the T20 World Cup tournament, against the Netherlands, and finished third in their group behind South Africa and Bangladesh.

Former skipper Mahela Jayawardena also stepped down as "consultant coach" last month.

India will play its first T20 against hosts Sri Lanka on July 26 with the second match the following day and the final on July 29. &nbsp;All three matches will be at Pallekele.

They will play three ODIs matches starting August 1 with the second on August 4 and the final three days later.&nbsp;

All matches are scheduled at Premadasa Stadium.

Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

Sri Lanka's T20 captain Wanindu Hasaranga resigned Thursday ahead of India's white ball tour of the island later this month, the cricket board said. The 26-year-old all-rounder quit following Sri Lanka's early exit from the T20 World Cup in June.

Sri Lanka's T20 captain Wanindu Hasaranga resigned Thursday ahead of India's white ball tour of the island later this month, the cricket board said. The 26-year-old all-rounder quit following Sri Lanka's early exit from the T20 World Cup in June. Sri Lanka Cricket said Hasaranga decided to give up the captaincy and remain in the side as a player in the "best interest" of the team. “Sri Lanka will always have my utmost best efforts as a player, and I will support and stand by my team and leadership as always,” he was quoted as saying in his resignation letter to the board. No replacement was announced and Kusal Mendis remained the country's ODI skipper with Dhananjaya de Silva staying on as Test captain. Hasaranga's resignation comes days after former skipper Sanath Jayasuriya, 55, was appointed "interim" coach until a permanent replacement for Chris Silverwood is named. Former England coach Silverwood, 49, quit Sri Lanka's national side for "personal reasons", according to Sri Lanka Cricket, which thanked him for his "valuable contributions during his tenure". ALSO READ | There is lot to say: Former Pakistan pacer Wahab Riaz reacts after being sacked from PCB selection panel Sri Lanka won only one match at the T20 World Cup tournament, against the Netherlands, and finished third in their group behind South Africa and Bangladesh. Former skipper Mahela Jayawardena also stepped down as "consultant coach" last month. India will play its first T20 against hosts Sri Lanka on July 26 with the second match the following day and the final on July 29. All three matches will be at Pallekele. They will play three ODIs matches starting August 1 with the second on August 4 and the final three days later. All matches are scheduled at Premadasa Stadium. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

Sri Lanka T20 skipper Wanindu Hasaranga quits ahead of India's tour

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