COLOMBO (AP) – Sri Lanka marked its 77th independence anniversary yesterday with a military parade, while the country’s newly elected president, Anura Kumara Dissanayake, pledged to heal Sri Lanka’s economic woes by the end of his five-year term. Yesterday, Dissanayake said he would improve the living standards of all Sri Lankans during his tenure, giving them opportunities to enjoy modern scientific and technological innovations.
Addressing a ceremony in the capital, Colombo, he urged Sri Lankans to work together to win economic, social and cultural freedom, and said, “Everyone has a role to play in this struggle.”
Under Dissanayake’s leadership, Sri Lanka is trying to emerge from bankruptcy by restructuring its staggering debt.
When Sri Lanka declared bankruptcy, it sought the help of the International Monetary Fund, which approved a USD2.9-billion four-year bailout package in 2023, under which Sri Lanka was required to restructure its debt. In September, Sri Lanka announced it had concluded the debt restructuring process after reaching agreements with bilateral and multilateral creditors and private bond holders.
