💰 The Economy
📰 Asian Development Bank (ADB) approves USD 200 million policy-based loan for Sri Lanka
The ADB approved a policy-based loan of USD 200 million on November 19, aimed at supporting
the Government in enhancing the resilience and efficiency of its financial sector.
Link: https://tinyurl.com/y2z54ezh]

📰 President urges International Monetary Fund (IMF) to strike a balance in Sri Lanka’s economic recovery programme
Senior Mission Chief Peter Breuer and the IMF delegation met with President Anura Dissanayake
and key ministers on 18 November at the Presidential Secretariat to discuss the next initiatives
in the IMF programme. President Dissanayake emphasised the need for a balanced approach
that is more sensitive to citizens’ hardships.
Link: https://tinyurl.com/4e6ppb7c

⚖ Politics & Policy
📰 The new National People’s Power (NPP)-led Government announces a 22-member Cabinet
The new Cabinet of President Anura Kumara Dissanayake’s Government was sworn in at the
Presidential Secretariat on 18 November. Additionally, Dr. Harini Amarasuriya has been sworn
in as the Prime Minister of Sri Lanka.
Link: https://tinyurl.com/y4zse2na

📰 Gazette issued announcing 196 elected Members of Parliament
An Extraordinary Gazette was issued on November 15, announcing 196 elected parliamentarians
from the Sri Lanka General Election 2024.
Link: https://tinyurl.com/28bye9uh

📰 Export Development Board (EDB) targets USD 45 billion export revenue by 2030
EDB Chairman Mangala Wijesinghe revealed plans to achieve USD 45 billion in export revenue
within the next five years. The target includes a significant boost in merchandise exports,
services and tourism supported by an annual growth of 15 percent, a marked increase from the
current 4 percent.
Link: https://tinyurl.com/mr29p3z3

📰 President to embark on state visit to India in mid-December
President Dissanayake is set to visit India in mid-December for his maiden state visit. The
President is scheduled to engage in discussions with Indian Prime Minister Narendra Modi during
his upcoming visit.
Link: https://tinyurl.com/dhr8v8s5

📰 Election Commission set to discuss Provincial Council and Local Government elections
The Election Commission is scheduled to reconvene a meeting on 27 November to deliberate
on matters concerning the Local Government and Provincial Council elections.
Link: https://tinyurl.com/4v4j393x

📰 Possible impact of President Donald Trump’s presidency on Sri Lanka’s exports analysed by the Institute of Policy Studies (IPS)
Considering President Trump’s historical approach to increasing import tariffs, the IPS has
conducted a comprehensive analysis of the potential implications for Sri Lanka.
Link: https://tinyurl.com/4x9x3ksk

!? What you need to know
📰 JAAF congratulates the NPP on securing a clear majority in Parliament
The Joint Apparel Association Forum (JAAF), representing Sri Lanka’s largest export industry,
has extended its warm congratulations to the NPP on securing a resounding majority in the
General Election.
Link: https://tinyurl.com/6uuztfcy

📰 Teejay Lanka expands global presence with new manufacturing operations in Egypt
Teejay Lanka PLC has announced the expansion of its business operations in Egypt through the
establishment of a new entity, which was officially incorporated on November 19, 2024. This
entity will focus on fabric manufacturing, manufacturing services, and trading activities,
enhancing Teejay Lanka’s global presence.
Link: https://tinyurl.com/yukzbwwm

📰 Hela Apparel’s revenue surges by 36.5 percent Year-on-Year (YOY) to LKR 23.4 billion
The Hela Group’s revenue increased by 36.5 percent YOY, reaching LKR 23.4 billion in the
second quarter of the 2024/25 fiscal year.
Link: https://tinyurl.com/4ebwzf36

📰 Sri Lanka featured as an ethical and sustainable sourcing destination at the European Union (EU) Parliament event
The Sri Lankan Embassy in Brussels has highlighted Sri Lanka as one of the best ethical and
sustainable sourcing destinations in the world, while participating in the European Parliament
‘Fair-Trade Breakfast-2024’ on 13 November. The event was organised by the ‘Fair Trade
Advocacy Office’ in Belgium and hosted by the European Parliament’s ‘Fair Trade Working
Group’ and its Chair, Bernd Lange, a Member of the European Parliament.
Link: https://tinyurl.com/4rh5hshh

📰 Apparel Technologies recognises industry trailblazers at Lectra Stellar Awards 2024
Apparel Technologies (Pvt) Ltd. successfully hosted the highly anticipated ‘Lectra Stellar
Awards’ on 18 October at the Shangri-La Colombo. This prestigious event convened prominent
figures from Sri Lanka’s apparel and technical textile sectors to honour excellence and
innovation within the industry.
Link: https://tinyurl.com/5n7ps5fy

Disclaimer – This Advisory is intended for circulation among JAAF stakeholders only. Please do
not circulate or share on social media. The Advisory includes economic, political, social and
governance perspectives. It draws on news reports, analyses, Government announcements and
documents, and other sources that we may be in contact with or have access to.

This Advisory
was prepared by the Strategic Communications Unit of Adfactors PR Lanka. For inquiries,
contact sarah.muiz@adfactorspr.com