Former UNP Deputy Leader Ravi Karunanayake says Sri Lanka desperately needs investment for economic growth but blames poor planning and IMF conditions for failing to create the right environment. He urges the government to work with the IMF to attract foreign investors and build a competitive economic foundation.
Former Deputy Leader of the United National Party (UNP), MP Ravi Karunanayake, has said that while investment is essential for Sri Lanka’s economic growth, the country has not created the necessary environment to attract investors.
Speaking to the media, Karunanayake criticized the role of the International Monetary Fund (IMF), stating that its policies are making it more difficult to bring in foreign investment.
“Investors are drawn only when there are exceptional opportunities and favorable conditions, but those currently don’t exist in Sri Lanka,” he said.
The MP added that foreign investors will not come unless there is a strong economic foundation, proper infrastructure, and business-friendly regulations in place.
Karunanayake urged the government to engage directly with the IMF, not just for debt relief, but to also encourage the institution to support foreign investment into Sri Lanka.
He emphasized that creating a pro-investment climate is critical to stimulate growth and overcome the ongoing economic challenges facing the country.
