Cardinal calls for rethinking open economic policies and IMF programme

Colombo, June 1 (Daily Mirror) - Archbishop of Colombo, Cardinal Malcolm Ranjith, has urged the government to reconsider the country's open economic policies and reassess its engagement with the International Monetary Fund (IMF). Speaking to journalists, the Cardinal said the open economy introduced in 1978 had diminished Sri Lanka's ability to become self-sufficient in many essential goods. “There was a time when Sri Lanka had the capacity to produce many of the items it now imports. However, the country has increasingly become dependent on imports, and it is struggling to bear the associated costs. Therefore, it is time to rethink the open economic model,” he said.

The Cardinal also expressed reservations about continuing the IMF programme.

“The IMF functions much like a bank. Its primary concern is not necessarily the wellbeing of the people. It is therefore timely for Sri Lanka to reassess whether it should continue its engagement with the IMF,” he said.

Commenting on governance issues, Cardinal Ranjith said the government appeared to be facing difficulties in implementing an effective anti-corruption drive.

“The government should place greater emphasis on reducing the cost of living and addressing the economic hardships faced by the people,” he said.

He noted that the recent increase in fuel prices had contributed to a rise in living costs. “The cost of living has increased as a result of higher fuel prices, which have been influenced by developments in the Middle East,” he said.