Govt. attempting to introduce laws to quell opposition against domestic debt restructuring – Dr. Nalaka Godahewa

Friday, 7 April 2023 00:50 - - {{hitsCtrl.values.hits}}

MP Dr. Nalaka Godahewa

Freedom People’s Congress member Dr. Nalaka Godahewa says the Government is attempting to enact laws to implement certain conditions put down by the IMF agreement including on domestic debt restructuring and to quell any opposition against them. Commenting on President Ranil Wickremesinghe’s recent announcement on bringing in such laws, “It is as if we are making a promise in blood” he said adding that it gives rise to certain doubts if the agreement contains any conditions that would draw strong opposition.

The MP said he believes a seminar held in March 2023 by the Central Bank Governor for investor’s hints at such contentious provisions where the Governor revealed that the IMF has suggested domestic debt must also be restructured.

“This is on average ten times more than the Government’s annual revenue. This is the terrible news the Government has not given the country yet,” he said. The MP said the creditors of this debt are the country’s banks, Employee Provident Fund and the Employee Trust Fund.

“In other words, this is the money of the people,” he said. The MP warned that yet another crisis will be created as a result of this. “Therefore the Government is now attempting to bring in laws to ensure there can be no opposition,” he said. He assured his faction will oppose such legislation and educate the public about the attempts of the Government.