Colombo, Sri Lanka – Former State Minister for Finance Shehan Semasinghe asserted that the fourth installment of the International Monetary Fund (IMF) bailout would have been secured by now if the previous administration led by former President Ranil Wickremesinghe had remained in power. He made these comments during a press conference at the New Democratic Front office in Colombo.
Semasinghe explained that the previous government had laid the groundwork for economic recovery and negotiated agreements with the IMF to create a stable financial framework for the country. He emphasized that continuing the IMF program is crucial for Sri Lanka’s economic progress, and he urged the current administration to uphold the agreements made.
“Our government handed over a secure economy to the current leadership, transforming the country into a bankruptcy-free state,” said Semasinghe. “It is now the responsibility of President Anura Kumara Dissanayake to protect and build upon this foundation.”
He expressed concern that failure to secure the IMF’s fourth tranche in a timely manner could result in economic setbacks, cautioning that the current government must strive to increase state revenue from the current 13.1 percent to 15 percent by next year to support essential services and strengthen the economy.
Semasinghe also called on all political parties to back the IMF program, warning that any attempt to hinder its implementation would amount to a “serious crime against the 22 million people” of Sri Lanka.
The remarks highlight the growing debate over the country’s economic policies and the challenges facing the current administration in maintaining financial stability amid continued economic difficulties.
