Sri Lankan President Ranil Wickremesinghe has challenged fellow Presidential Candidates Sajith Premadasa and Anura Kumara Dissanayake to participate in an open discussion with the International Monetary Fund (IMF).
He said that this would allow the entire nation to assess the truthfulness of their public promises and statements.
The President also highlighted that altering the agreement with the IMF is not feasible. He emphasized that such changes could lead to another economic collapse, with Premadasa and Dissanayake’s misleading promises of reduced prices and taxes potentially worsening the country’s situation. He stressed the need to prevent such deceptions.
President Ranil Wickremesinghe noted that while he wishes to reduce the prices of goods and lower taxes, such actions can only be achieved by strengthening the rupee and adhering to the agreements with the IMF.
He also urged Sajith Premadasa and Anura Kumara Dissanayake to immediately present any alternative solutions and seek their opinion during the discussion with the IMF.
The President made these remarks during the Special Convention of the United National Party (UNP), held at the Party Headquarters ‘Sirikotha’, Pitakotte.
“We must avoid repeating past mistakes. When former President Gotabhaya Rajapaksa reduced taxes, despite the IMF’s clear stance against such cuts, the IMF subsequently withdrew its support.
The terms of agreements with the IMF are non-negotiable; they do not change their conditions. A similar situation occurred in Greece, leading to a severe economic collapse—a scenario we are determined to avoid in Sri Lanka,” said the President.
“Our current agreement ensures that we receive approximately USD 700 million from the IMF, the Asian Development Bank, and the World Bank every six months. This funding will support us till January. The IMF is scheduled to return for further discussions in October,” added Wickremesinghe.,
He added that both the Samagi Jana Balawegaya (SJB) and the Janatha Vimukthi Peramuna (JVP) have suggested revising the program.
“If this occurs, the IMF may withhold funding for the coming year, potentially leading us back to previous economic challenges. Restarting discussions with the IMF could take two to three months, followed by an additional six weeks for approval by the IMF Board of Directors. It is impractical to go without financial support for six months,” elaborated the President.
