Colombo University economics professor warns that Sri Lanka’s current trajectory lacks genuine economic reform. IMF compliance alone won’t bring sustainable development or public sector stability.
Sri Lanka is not undergoing any meaningful economic reform right now, warns Professor Priyanga Dunusinghe from the Department of Economics at the University of Colombo. According to him, what the country is currently engaged in is not reform, but rather the mechanical implementation of conditions laid out in agreements with the International Monetary Fund (IMF).
Speaking in an interview with an electronic media outlet, Professor Dunusinghe underscored that essential structural reforms are absent. Instead of introducing long-overdue changes that could rejuvenate the economy, the government is focused on meeting IMF milestones that do not reflect domestic development needs.
He emphasized that such an approach will have far-reaching consequences across multiple sectors including the public service, national education systems, public transportation, land markets, industry, and the labor force. Without a holistic and independent reform agenda, the economy cannot achieve long-term stability or inclusive growth.
Professor Dunusinghe warned that unless Sri Lanka embarks on comprehensive, homegrown economic reforms, the dream of sustainable economic development will remain just that a dream.
