The Pulse: Rupee Volatility, IMF Boost, and Vesak Preparations Dominate News

The Colombo Fort Magistrate’s Court will announce a decision on June 2nd regarding summoning lawyers in the Kapila Chandrasena death inquest

. Opposition Leader Sajith Premadasa warned against external interventions turning Sri Lanka into a geopolitical playground

. In preparation for Vesak, liquor outlets will be closed from May 29 evening to June 1

. President Anura Kumara Dissanayake declared that political protection for drug traffickers has been dismantled, urging expedited legal reforms

. The Colombo High Court set July 7 for the trial against Namal Rajapaksa in the Krrish financial transaction case, involving alleged criminal breach of trust of Rs. 70 million

. President Dissanayake also extended the essential services declaration for 15 categories amid the post-disaster situation

. The Kotuwa Magistrate's Court ordered the arrest of former Minister Basil Rajapaksa and two others over the alleged misuse of Rs. 7.8 million from the Sri Lanka Tourism Promotion Bureau

. The Aswesuma elderly allowance for May, totaling 368,315,000 rupees, is being credited to bank accounts today for 625,128 individuals in the first phase and 73,663 in the second

. Transport Ministry Secretary Professor Kapila Perera resigned, planning to rejoin university service

. Sri Lanka inaugurated its new High Commission in Wellington, New Zealand, on May 28, with Foreign Minister Vijitha Herath and New Zealand’s Foreign Minister Winston Peters in attendance, aiming to strengthen bilateral relations

. The State of Public Emergency was extended for one month, effective May 28, 2026, to ensure public safety and essential services

. Construction of the 18.7-kilometre Rambukkana-Galagedara stretch of the Central Expressway commenced, projected to cost Rs. 112.4 billion

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The Sri Lankan Rupee depreciated against the US Dollar on May 29, with the selling rate increasing from Rs. 330.81 to Rs. 334.24

. President Dissanayake assured the IMF of re-establishing cost-covering electricity and fuel pricing, leading to the approval of USD 695 million from the EFF program

. The Rupee's selling rate against the US Dollar surpassed LKR 334, reaching LKR 334.24

. The IMF Executive Board approved the fifth and sixth reviews of Sri Lanka's Extended Fund Facility, disbursing an additional USD 695 million, bringing the total to USD 2.4 billion

. The IMF forecasts Sri Lanka's economic growth to slow to 3% in 2026, praising sustained policy implementation

. CPC denied fuel price hike rumors, stating that international prices would be announced today, with no reductions expected in May or June, and sufficient stocks until end of July

. Sri Lanka plans a new mechanism for adjusting fuel and electricity tariffs, potentially weekly, due to global price surges of 20% to 35% and IMF conditions

. Colombo's overall inflation rose marginally to 5.5% in May, driven by a rise in non-food inflation to 7.8%

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Sri Lanka Police launched a special security program for Vesak Week in Colombo, including road closures and one-way routes from May 29 through early June

. Today, May 30th, marks the sacred Vesak Poya Day, commemorating the Buddha's birth, enlightenment, and parinirvana, with island-wide celebrations including lanterns, pandals, and dansal

. The Sri Pada pilgrimage season concludes on Vesak Poya, with the Sacred Relic Casket to be processed on May 31st

. Special bus and train services have been launched to facilitate public travel for Vesak, especially for devotees heading to Anuradhapura and the State Vesak Festival in Matara

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The Department of Irrigation issued a minor flood warning for the Kuda Ganga Sub Basin of the Kalu River, effective until May 31, 2026, due to heavy rainfall and open spill gates at Kukule Ganga reservoir, affecting areas like Bulathsinhala and Palindanuwara

. The Meteorology Department warned of rough seas and strong winds along Sri Lanka's coasts for the next 24 to 72 hours, with wind speeds potentially reaching 55-65 km/h in specific regions, advising the navy and fishing communities to be vigilant

. New advisories for May 29, 2026, warned of very rough seas with winds up to 60-65 km/h in areas from Kankesanturai to Mannar and Galle to Pottuvil, while intermittent rain is forecast for Western, Sabaragamuwa, and North-Western provinces on May 30

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Police seized 1.213 kg of 'Ice' and 516 grams of Heroin in Ragama, arresting an 18-year-old suspect

. Separately, 5 grams of 'Ice' were seized in Nawalapitiya, where a suspect linked to 'Dematagoda Chaminda' assaulted officers during his arrest

. In a major drug bust in Baduraliya, police seized 3 kilograms and 362 grams of 'Ice' methamphetamine, valued at nearly 550 million Sri Lankan Rupees, found abandoned in the Thumbagalla Kanda area

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The registration period for Vesak Dansals concludes today, May 29, 2026, with organisers required to register at MOH offices and adhere to special food safety guidelines from the Ministry of Health

. Sri Lanka has reported over 100 suspected meningitis cases, with the Ministry of Education issuing special guidelines to prevent its spread among schoolchildren, now identified in Nuwara Eliya and Badulla districts

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An SLTB bus overturned on the Monaragala-Siyambalanduwa main road in the 31st Junction area, injuring 26 passengers who have been admitted to hospital

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