IMF bailout will only put country into further debt trap: Vijitha

7 March 2023 05:33 pm - 19 - {{hitsCtrl.values.hits}}

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Claiming that the country would not be developed by flourishing the production economy in the country even after obtaining the IMF bailout, NPP MP Vijitha Herath said today the country would further plunge down in the debt trap.

He told Parliament that President Ranil Wickremesinghe claimed that Sri Lanka could obtain another loan from the Asian Development Bank (ADB) after the approval was given by the IMF.

"The government claimed that the country could come out of the economic crisis after obtaining the IMF bailout. However, the President said in Parliament today that Sri Lanka could obtain another loan from ADB after IMF approval. This proves that the IMF bailout will be a chance to obtain another loan. The country would end up in a further debt trap," he said.

The MP said the government had to fulfill fifteen conditions of the IMF to obtain an IMF bailout which has put people in further crisis. "Government increased electricity tariff and taxes as conditions of the IMF," he said.

He questioned why the LG polls could not be held if the economy was developed, inflation decreased and the rupee strengthened against the Dollar after the IMF bailout.(Ajith Siriwardana and Yohan Perera)

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Comments - 19

Siripala Tuesday, 07 March 2023 05:42 PM

The 'economic wizards' of the JVP. Knows only to criticize.. no alternative plans.

Anil Fernando Tuesday, 07 March 2023 05:47 PM

This mutt does not realise that the IMF bailout has still not realised its potential. He might next say that the IMF money can be used for elections.

Lion Tuesday, 07 March 2023 06:45 PM

This country will be going from bad to wore since the loans which will be obtained will be handled by rouges who has put this country to this situation

Dee Tuesday, 07 March 2023 07:13 PM

What is your solution? To place the heads of all those who lent to our country on stakes like you are used to?

Chris Tuesday, 07 March 2023 07:29 PM

If this is the level of their intelligence we have no hope if they should rule.!!

Chux Tuesday, 07 March 2023 07:45 PM

But you never speak about the how much you all were responsible destroying the public properties and people’s opportunities So why don’t you give a gurantee to the international financial markets

Saman Tuesday, 07 March 2023 10:36 PM

What a dumb statement. And they dream of being an alternative! Just shows off their intellectual and governance capability and capacity.

Samuel Balsding Wednesday, 08 March 2023 03:09 AM

How else do you think that we could get out of this mess? If you don't like IMF, you have only to say another way how we could feed the poor etc.

Gemunu Wednesday, 08 March 2023 06:54 AM

If Sri Lankans elect NPP or SJB, it will be a worst mistake than the one that they made by electing GR. Sri Lankans need to give a fair go to experienced politicians like RW if they want to get out their current rut.

Let us see the change Wednesday, 08 March 2023 07:01 AM

All those who criticize and protest on the stage and streets, let them do a day's work honestly for the salary they get, and the country will flourish. That is all we need today to lift the nation up. Every one, from the Minister to the laborer, let them start today and let us see the change.

Vive James Wednesday, 08 March 2023 08:00 AM

First things first .IMF is not ideal but better than some other alternatives. India also got a massive IMF package under Manmohan Singh. They cleverly used that fund and came out majestically in 95, 96. JVP's idealism will leads to do nothingism

Tissa Fernando Wednesday, 08 March 2023 08:27 AM

The same guys critisized Gota for not going to IMF and protested and set him home.

Lost Lankan Wednesday, 08 March 2023 08:53 AM

He needs to study IMF funding regulations well before making such statements and expecting to govern Sri Lanka. IMF basically streamlines the financial matters in line with economic growth. Every dollar given is 100% accountable hence no dodgy deals can happens unlike the loans from China where your own voted politicians pocket the most. We Sri Lankans should be at least grateful to a leader RW for fixing the past agony to hope of oxygen in our body. I know we Sri Lankans too little or NO gratefulness to goodness and am honestly not interested if you people continue to go on strikes and Aragalyas at this point of time.

joshua Wednesday, 08 March 2023 09:34 AM

You can't have the cake and eat the cake.

S. Samarakoon Wednesday, 08 March 2023 10:02 AM

Remember the JVP destroyed the economy back then. Burnt Tea Factories, closed down Campuses, burnt Buses, brought down Power Lines in the South and much more..

Punchi Wednesday, 08 March 2023 12:09 PM

No amount of loans is going to solve our economic problems when instead of nation building we are obsessed with division and hatred. Like Yugolovakia split into its constituent states and Czeckslovakia into the Czech and Slovak republics we must allow the Tamils to separate or we will have buddha but also almighty poverty and the increasingly powerful Tamil diaspora will engineer our enfeeblement - already happening in a reduced scale - and our eventual downfall

Romesh Anderson Wednesday, 08 March 2023 12:19 PM

Looking at some of the comments only states the foolishness of people who thinks the loan will resolve all problems. These foolish people do not know the leaders of this country do not have a plan to revive the economy. Taking more and more loans is going to put the country at worse risk

Karalasingham Sokkalingham Wednesday, 08 March 2023 02:33 PM

You mean to say borrow from CHINA?????

RR Wednesday, 08 March 2023 07:53 PM

LOANS DONT SOLVE OUR ECONOMIC PROBLEMS. IF WE ARE TO RAISE OUR HEADS CHINA WILL HAVE TO WRITE OFF THE LOANS THAT WAS FORCED ON US AND IS DUE TO THEM NOW

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IMF bailout will only put country into further debt trap: Vijitha

Comments - 19

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