Bandula asserts debt restructuring a national priority, not auspicious timing

Wednesday, 13 March 2024 00:32 - - {{hitsCtrl.values.hits}}

Highlights criticality of completing debt restructuring with external creditors to ensure financial stability
Proposes discussion with recognised astrology experts via national broadcasting channels to address inaccuracies of auspiciousness in Sinhala New Year rituals
Questions responsibility for determining auspicious timings on 9 May 2022

Cabinet Co-Spokesman and Minister Bandula Gunawardena yesterday insisted on the urgency of completing the debt restructuring process with external creditors over concerns regarding the auspicious timing of Sinhala New Year rituals.

“If the auspiciousness of paying the foreign debt is missed, the country will simply evaporate. It will not need another auspiciousness,” he said in response to a query posed at the post-Cabinet meeting media briefing yesterday.

Recently, the National Committee of Astrologers raised concerns regarding the designated timing for Sinhala New Year rituals. The Committee expressed concerns about inaccuracies in the schedule and insisted on amendments to ensure adherence to astrological principles for such nationally significant events.

Gunawardena highlighted the necessity of striking agreements with creditors and completing the International Monetary Fund (IMF) program to ensure the country’s financial and economic stability.

“We all enjoy the uninterrupted fuel supply, electricity and other essential commodities because we are not servicing our external debts at present. However, to ensure economic stability, we need to complete the debt restructuring process with our external creditors soon,” he explained.

Currently, an IMF staff team is in Sri Lanka as part of regular consultations ahead of the second review under the Extended Fund Facility (EFF) program.

Highlighting past events, such as the countrywide unrest on 9 May 2022, the Cabinet Co-Spokesman questioned the responsibility for determining auspicious timings on such occasions.

In response to astrologers’ concerns, Gunawardena proposed facilitating a meaningful discussion with recognised astrology experts via national broadcasting channels to address the scheduling of Sinhala New Year rituals.