In a rare public endorsement, former Finance Secretary Mahinda Siriwardena credits Sri Lanka’s economic turnaround to President Ranil Wickremesinghe’s bold crisis management—and applauds President Anura Kumara Dissanayake for continuing those same policies. Siriwardena’s behind-the-scenes revelations highlight Ranil’s decisive leadership at the peak of the collapse and affirm that the economic reforms now in place were hard-won and essential.
Sri Lanka’s recent economic recovery owes much to the tough, politically risky decisions taken by President Ranil Wickremesinghe, according to former Finance Secretary Mahinda Siriwardena. In an in-depth interview on the Derana 360 program, Siriwardena reflected on his tenure in the ministry and underscored the role Ranil’s leadership played in steering the country away from financial disaster.
Siriwardena noted that President Wickremesinghe made difficult calls at a time when the country was facing its worst economic crisis in history. “Had those decisions not been taken, this success could have been lost,” he said. With the economy teetering on collapse, Ranil focused not on political survival but on national stability, working around the clock to implement deeply unpopular but necessary reforms.
Recalling high-stakes moments during the debt restructuring negotiations, Siriwardena revealed that he frequently consulted Wickremesinghe directly for guidance. These moments, he said, revealed Ranil’s deep understanding of international diplomacy and economic strategy. “I learned a lot from working with him, especially how he dealt with countries,” Siriwardena added, praising Wickremesinghe’s calm under pressure.
He also expressed appreciation to former President Gotabaya Rajapaksa for appointing him as Finance Secretary. However, Siriwardena emphasized that many of the pivotal decisions in Sri Lanka’s economic rescue plan came under Ranil’s leadership. His experience working in that environment, he said, was a significant factor behind the country’s rebound.
Importantly, Siriwardena applauded current President Anura Kumara Dissanayake’s decision to continue the same economic program initiated by Wickremesinghe. He called it an “excellent decision” and praised Anura’s political maturity in recognizing the importance of continuity at such a fragile time. He also pointed out how deviation from the reform program in 2019 had led to severe consequences a lesson Dissanayake appears to have absorbed.
At the time, the world’s eyes were on Sri Lanka. International credit rating agencies and global governments were closely monitoring the country’s response to crisis. Consistency and credibility were critical. According to Siriwardena, the continuation of the existing economic framework under Anura is not only pragmatic it sends a strong message to the global community about Sri Lanka’s commitment to reform.
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