IMF bailout is a dire need: Poll

Friday, 27 May 2016 00:00 - - {{hitsCtrl.values.hits}}

The latest nationwide survey conducted by research firm TNS Lanka, for business magazine LMD, reveals that majority of the people believe Sri Lanka is in dire need of an IMF bailout.

The magazine notes that, according to the poll results, 60% of those polled acknowledge that the bailout is needed on the grounds that it will help stabilise the country’s economy and benefit national development.

However, 32% disagree with this claim and 8% are sitting on the fence, LMD notes.

Of those surveyed, 62% opine that the present Government is to blame for the prevailing situation – they say that the Administration needs to take responsibility for settling loans. But curiously, LMD observes, more than 71% of the survey sample upholds the view that the previous Government is responsible for the current state of affairs.

As to whether that the country’s economic management is in good hands, only a quarter of respondents respond positively, LMD reports.

Among the resolutions to avoid ‘any possible bankruptcy,’ the people suggest that strengthening domestic production, reducing expenditure and more efforts to develop the economy is the way forward. In fact, two-thirds of those surveyed believe that Sri Lanka should spend less to avoid costly funding.

The latest edition of the pioneering business magazine has been released to leading supermarkets and bookstores in Colombo and the outstations.

Its May Cover Story features an exclusive interview with entrepreneur, philanthropist, celebrity Sir Richard Branson, and his insights into Sri Lanka’s investment potential (for the full story, log onto www.LMD.lk).