NPP informs IMF of intentions to revise some reforms

• NPP MP Vijitha Herath says party informed IMF of its intentions to revise reforms that are burdening people and relating to sale of state assets 
• Conveys party’s agreement to continue negotiations with IMF 
• Questions IMF on delays relating to debt restructuring; IMF says no exact time frame can be given 
• Notes IMF confirmed it was not invited to a discussion with opposition despite claims by President 

By Maneshka Borham

National People’s Party (NPP) MP Vijitha Herath said the party informed the International Monetary Fund (IMF) yesterday that if the NPP were to form a Government, they would revise some reforms that have imposed burdens on the people and involved the sale of state assets.

The NPP MP said they conveyed these sentiments during a meeting with a delegation from the IMF in Colombo yesterday.

 “We informed them that the clauses related to burdening the people and selling public resources in the recently signed agreement will be revised again under our control. Our discussion centred on this point. We pointed out that actions should be taken on debt restructuring from this basic position,” he said. 

“We made it clear to the IMF that we have no objection to continuing the negotiations but stressed the importance of reviewing these conditions concerning their impact on the people,” the MP added. 

NPP representatives including Executive Council members Vijitha Herath, Muditha Nanayakkara, NPP Economic Council members Dr. Harshana Suriyapperuma, Prof. Anil Jayantha, Prof. Seetha Bandara and Sunil Handunnetti met with the IMF delegation led by IMF Senior Mission Chief for Sri Lanka Peter Breuer at the Shangri-La Hotel in Colombo yesterday. 

According to Herath, the NPP also highlighted the significant deficiencies in governance to the IMF delegation and stressed that reviving the economy would necessitate a shift in the country’s existing political culture.

Herath said that the NPP inquired why IMF representatives were not present at the recent meeting convened by the President with opposition leaders and the IMF and the delegation responded that they had not been invited to any such discussion by the Government. 

“However, the President publicly said that opposition leaders were invited to a meeting with representatives of the IMF. It is evident that the government merely utilised the media to deceive the public once again,” he remarked.

“The IMF also informed us that it is the responsibility of the Government to provide MPs with the Technical Assistance Reports related to the IMF agreement. Despite its assertions of transparency, the Government has yet to disclose these crucial reports to the country,” he alleged.

The NPP MP also noted that the party raised concerns with the IMF delegation regarding the delay in debt restructuring and inquired about the progress made. “They informed us that a specific timeframe cannot be provided for the completion of the process and discussions are ongoing. Despite the Government’s anticipation of interest rate reductions and loan amount reductions, these changes have not yet materialised, they confirmed,” he added. 

The NPP MP also noted that the party raised concerns about the Government’s lack of action to eliminate fraud and corruption in the country. “We highlighted how the Government has appointed a person accused of corruption as Chairman of the CoPE, which has shattered trust despite signing an agreement with the IMF,” he emphasised.