ECONOMYNEXT – President Anura Kumara Dissanayake issued a stern ultimatum to state establishments, declaring that “good governance” have to be confirmed at house earlier than it may be demonstrated to the world.
Talking at a gathering on the Presidential Secretariat on Tuesday (03), the President addressed the nation’s prime monetary and safety brass to organize for a high-stakes worldwide audit that would decide the destiny of Sri Lanka’s financial restoration.
Sri Lanka is bracing for its third mutual analysis in March by the Asia Pacific Group on Cash Laundering (APG), the regional affiliate of the worldwide watchdog, the Monetary Motion Process Drive (FATF).
This analysis scheduled final yr was initially delayed by the 2024 elections and can now topic Sri Lanka’s anti-money laundering and counter-terrorism financing (AML/CFT) frameworks to intense scrutiny beginning subsequent month.
“…previous to demonstrating our integrity to exterior entities, we, as a authorities, should first take duty for our actions and dedicates ourselves to good governance, whereas inviting all stakeholders to correctly and responsibly fulfil their institutional duties towards that goal,” President Dissanayake was quoted as saying by the President Media Division (PMD).
In contrast to earlier assessments, the 2026 analysis will comply with a revised “Effectiveness” methodology.
It’s not sufficient to have legal guidelines on paper; Sri Lanka should now show these legal guidelines truly cease criminals.
The urgency behind the President’s assembly is rooted in a painful historical past with Sri Lanka has been within the Gray Listed twice earlier than, first in 2011 and once more in 2017.
Earlier listings led to a collapse in correspondent banking relationships, greater borrowing prices, and a big dent within the nation’s sovereign credit score scores, shocks the nation continues to be struggling to beat following its 2022 financial disaster.
Confronted with a “problematic scenario” the place single officers had been dealing with a number of roles, President Dissanayake ordered a right away recruitment drive to bolster the Monetary Intelligence Unit (FIU) and different companies.
To stop setbacks, he additionally ordered a particular round to freeze the rotation of skilled officers till the audit is full in November.
Sri Lanka can not afford to be grey-listed once more, analysts say, as a 3rd failure would jeopardize investor confidence and the influx of international direct funding important for restoration.
A Particular Process Drive has been given simply two weeks to submit a progress report on institutional readiness. (Colombo/February 03/2026)
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