Sri Lanka's president was told by economists that price control policies were destabilising the island's economy as the government continues to struggle with a balance of payments crisis.

Speaking at an annual economic summit in Colombo, where Sri Lanka president Maithripala Sirisena was in attendance, Razeen Sally head of Sri Lanka's economic policy think tank said, 

"there has been supreme idiocy of price controls”. 

Local fishermen in Passikudah protested against the development of tourism which they say is threatening their livelihoods.

The fisherfolk were asked by the Prime Minister Ranil Wickremesinghe to vacate their anchorage point to make the land available for tourism.

Despite threats and warnings from the police and CID, with the police warning community leaders not to go through with it, the protest was held last week to correspond with the Global Action Week of the Land Rights Now Campaign.

The Paris based charity, Action Contre la Faim on Thursday called for a credible investigation into the killing of 17 of its local aid workers in Muttur in Sri Lanka in 2006. 

Visiting Sri Lanka on the 10th anniversary of the killing, the ACF chief executive, Veronique Andrieux told AFP that they were closely observing the government's implementation of the UN Human Rights Council resolution calling for a credible investigation into mass atrocities committed during the armed conflict. 

Sri Lanka’s debt situation is so severe, over 95% of all government revenue is spent on repaying loans, reports Forbes this week.

In a piece examining the government’s struggle to make repayments, Wade Shepard wrote in Forbes:

“Sri Lanka’s debt situation is severe. The country is currently in $58.3 billion deep to foreign financiers, and 95.4% of all government revenue is currently going towards paying back its loans.

This means that out of every hundred dollars the government brings in only $4.60 is going towards essentials like education and public services.”

In the latest of its presidential commission appointments, Sri Lanka's prime minister Ranil Wickremesinghe said the government would be appointing another to investigate reported attempts to create rifts within the Buddhist clergy.

"We will appoint a presidential commission to determine whether anyone tried to create divisions within the Malwatte Chapter," Mr Wickremesinghe was quoted by the Daily Mirror as saying whilst addressing a religious event at a Buddhist temple.

The Sri Lankan government has rejected a report by the Sunday Times that China had refused to convert debts into equity, accusing the paper of trying to disrupt the country's economic development.

Colombo Page quoted the Government Information Department as saying, "a Sunday Times report that said China has declined Sri Lanka's request to convert into equity Beijing-funded projects including the Mattala Airport and the Hambantota Port was not true."