Anura Kumara Dissanayake Forms New Cabinet

Sri Lanka's President Anura Kumara Dissanayake has retained key finance and defense portfolios as he announced a new cabinet following his coalition's historic supermajority win in last week's parliamentary elections, securing 159 out of 225 seats. Dissanayake reiterated his commitment to responsible governance and addressing the people's hardships, particularly in light of ongoing austerity measures linked to an International Monetary Fund (IMF) bailout. His government will hold its first parliamentary session on Thursday to discuss key policies and prepare for the 2025 budget. The stock market reacted positively to the cabinet formation, with the CSE All-Share index rising for the seventh consecutive session. Dissanayake's coalition previously struggled with a lack of seats in parliament, prompting the recent snap elections to secure a mandate. As the nation grapples with the aftermath of a severe economic crisis, Dissanayake is expected to balance tax reductions and welfare increases without jeopardizing the IMF program.