‘Sajith and Anura’s proposals lack IMF approval’ - President emphasizes need for IMF support and reforms
September 16, 2024 03:13 pm
President Ranil Wickremesinghe has stated that his primary objective is to ease the burden on the lives of the people.
Speaking during a public rally held in Horana, he emphasized the importance of upholding the agreements made with the International Monetary Fund (IMF) and moving forward with them. The President noted that it is not feasible to alter these agreements, contrary to the claims made by Sajith and Anura.
Additionally, President Wickremesinghe pointed out that Sajith and Anura’s proposals lack the approval of the IMF, noting that the IMF’s support is firmly behind the government’s current program.
Furthermore, Wickremesinghe elaborated: “My primary goal is to ease the burden on people’s lives. We must continue to uphold our agreements with the International Monetary Fund (IMF), as we have no other source of support. The IMF has facilitated aid from 18 countries and provided us with a $10 billion advantage in managing our debt interest payments,” he said.
He further said that they need to transition to an export-driven economy and cannot sustain borrowing indefinitely, especially when their import expenses exceed their export income.
“To keep our economy strong, we must focus on building an export economy and modernizing our economic practices. Providing subsidies alone will not advance our country; we need to develop a robust economy together,” he added.
The President criticized Sajith and Anura’s promises of offering everything for free, stating that “Sajith and Anura are promising everything for free, but this is not feasible. They are misleading people to secure votes. Despite their claims of negotiating with the IMF, no such discussions have taken place.”
He further stated that the IMF has emphasized the importance of achieving the objectives of their current program to help Sri Lanka emerge from its severe economic crisis.
“They have stressed the need to continue implementing economic reforms, which means I must carry on with the program I initiated. I am the only one capable of advancing this program”, he added.
