Sunday Sep 22, 2024
Sunday Sep 22, 2024
Wednesday, 5 June 2024 00:20 - - {{hitsCtrl.values.hits}}
President Ranil Wickremesinghe yesterday stressed that failing to adhere to the International Monetary Fund (IMF) agreements would set the country back, and he urged support for the Economic Transformation Bill presented to Parliament, emphasising that it is everyone’s responsibility to implement the agreements.
He also highlighted the importance of meeting economic targets outlined in the IMF agreements to maintain the country’s economic stability, stating that deviating from these targets would harm the economy. The President called on the Opposition to refrain from making politically motivated statements and to instead work within the existing framework.
President Ranil Wickremesinghe highlighted the Opposition’s refusal to take responsibility and their reliance on traditional politics, which has led to their current position. He expressed confidence in the Government’s accomplishments and called for unity to advance the country’s progress.
The President made these remarks during the “Urumaya” freehold deeds and rice distribution program at Wandala Sri Visuddaramaya, Karawanella.
As part of the “Urumaya” program, 350 freehold deeds were distributed in the Kegalle district, and 800 low-income families received 10 kilos of rice each in the second phase of the rice distribution program.
Addressing the event, President Ranil Wickremesinghe further stated: “This Government is diverse and inclusive, comprising representatives from various parties, both in power and in the Opposition. It is not a Government of one party but rather a collective of different political affiliations. Therefore, both the ruling party and the Opposition are multi-party entities. In our current role as a Government, we have shouldered significant responsibilities. The Opposition, however, has refused to acknowledge this responsibility, setting us apart. I won’t delve into the state of the country at that time, but we have made substantial economic progress today. While many predicted a 4-5 year recovery period, we managed to bounce back in just two years, but we had to make tough decisions along the way. We have successfully negotiated agreements with the IMF to outline the objectives for the country’s economic development. The aim is for the country’s economy to achieve a 5% growth by 2027, with a further increase to 8% in the future. Additionally, we are committed to reducing unemployment to 5% by 2025 and extreme poverty to 25% by 2027, and then to 10% by 2035.
The IMF has provided extensive support for our efforts to revitalise the country’s economy, following our public commitment to this cause. We are also actively working to restructure the repayment of our foreign debts, as failure to adhere to these agreements with the IMF will jeopardise our progress and support from the organisation, as Sri Lanka has previously made and broken such promises on numerous occasions.
As a result of these discussions, all these agreements have been incorporated into the economic transformation bill, which has been formally presented to the Parliament. This bill serves to enshrine our economic objectives and commitments. The countries that have provided us with financial assistance are reassured by our dedication to this program, and we are appreciative of their continued support.
These negotiations are reaching their conclusion, so there’s no use in spreading rumours in the political arena. It is important for them to fulfil their promises within this framework. To the Opposition, I say that you turned against us because you couldn’t handle the responsibilities and traditional politics, while we fearlessly accepted the challenges and we are in power today because of the results we’ve achieved. Let’s all work together towards the same goals.”
