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Government Focuses on Supporting Small and Medium Industries

Editor November 11, 2024

In a recent meeting at the President’s Secretariat, key stakeholders, including officials from the Sri Lanka Banks...

President Should Stop Whining and Fulfill Promises

Editor November 11, 2024

Former MP Johnston Fernando has criticized the President for failing to fulfill his campaign promises made during...

President in Talks with Northern Parties for Coalition Government?

Editor November 11, 2024

SJB Kandy group leader Tissa Attanayake has revealed that President Anura Dissanayake is currently negotiating with Tamil...

Bay of Bengal Disturbance: Heavy Rainfall Expected Across Sri Lanka

Editor November 11, 2024

The Director of the Meteorological Department’s Forecasting Division, Mr. Ajith Wijemanna, has stated that a low-pressure zone...

IMF Loan Installment Delayed Indefinitely

Editor November 11, 2024

Former Minister Manusha Nanayakkara has stated that if Ranil Wickremesinghe were still the President, Sri Lanka would...

Sumanthiran Accuses President’s Rally in Jaffna of Using Buses to Bring Attendees Sumanthiran Accuses President's Rally in Jaffna of Using Buses to Bring Attendees

Sumanthiran Accuses President’s Rally in Jaffna of Using Buses to Bring Attendees

Editor November 11, 2024

M.A. Sumanthiran, former TNA Member of Parliament, claimed that President Anura Dissanayake’s rally in Jaffna involved the...

Five Political Questions in School Exam Sparks Debate on Education and Politics

Editor November 11, 2024

Udaya Gammanpila, along with other opposition figures, has raised concerns about the increasing presence of political content...

CBSL to Auction Over A quarter Trillion in Bonds and Bills This Week CBSL to Auction Over A quarter Trillion in Bonds and Bills This Week

CBSL to Auction Over A quarter Trillion in Bonds and Bills This Week

Editor November 11, 2024

The Central Bank of Sri Lanka is set to hold significant auctions of treasury bonds and bills...

“NPP Representatives Avoiding Debates Amid Accusations” – Kanchana Wijesekera "NPP Representatives Avoiding Debates Amid Accusations" - Kanchana Wijesekera

“NPP Representatives Avoiding Debates Amid Accusations” – Kanchana Wijesekera

Editor November 11, 2024

Former Minister Kanchana Wijesekera has alleged that representatives of the National People’s Power (NPP) are avoiding debate...

In his critique of President Anura Kumara Dissanayake's fiscal approach, former MP Nimal Lanza outlined a series of financial moves he believes signal a concerning trajectory for Sri Lanka’s economic future. Lanza highlighted what he described as an alarming acceleration in government debt, particularly through recent issuances of bonds and treasury bills. He noted that these steps, amounting to approximately 1,400 billion rupees in loans, stand in stark contrast to the anti-debt stance that Dissanayake's administration had championed prior to taking office. Lanza's comments come amid discussions about the government's reluctance to follow through with IMF recommendations, which include proposed tax reforms. He emphasized that fulfilling these IMF mandates is necessary to secure further installments of financial relief initially arranged under former President Ranil Wickremesinghe. Wickremesinghe had previously coordinated a relief package valued at $17 billion by engaging with both international lenders and 17 other creditor countries, a strategy Lanza argued demonstrated a disciplined approach to debt management. According to Lanza, the Dissanayake administration appears to be postponing certain IMF-recommended reforms, potentially due to concerns over their electoral impact. He warned that delaying these reforms could not only strain relations with the IMF but might also jeopardize the confidence of international financial partners who closely watch the government's fiscal policies. Lanza argued that by postponing necessary changes, the administration may be seeking short-term gains that risk undermining the country’s longer-term economic stability. Lanza also underscored the lack of tangible progress on promises to attract foreign remittances as an alternative to borrowing. He referenced earlier statements from government officials, who had claimed that incoming funds from the diaspora could offset the need for loans. However, Lanza pointed out that these inflows have not materialized, leaving the government to depend on traditional debt mechanisms. The former MP further criticized what he perceived as a lack of clarity and honesty in the government’s economic messaging, calling on President Dissanayake to provide straightforward explanations for deviations from earlier promises. He suggested that continual discrepancies between promises and actions would erode public trust and urged the government to adopt a more transparent approach to governance. Lanza concluded with a cautionary note, stating that the public’s patience may wane if perceived inconsistencies in leadership and policy continue unaddressed.

Massive Debt Accumulation Under Dissanayake Sparks Criticism

Editor November 11, 2024

In his critique of President Anura Kumara Dissanayake’s fiscal approach, former MP Nimal Lanza outlined a series...

Government Focuses on Supporting Small and Medium Industries

President Should Stop Whining and Fulfill Promises

President in Talks with Northern Parties for Coalition Government?

Bay of Bengal Disturbance: Heavy Rainfall Expected Across Sri Lanka

IMF Loan Installment Delayed Indefinitely

Sumanthiran Accuses President’s Rally in Jaffna of Using Buses to Bring Attendees

Five Political Questions in School Exam Sparks Debate on Education and Politics

CBSL to Auction Over A quarter Trillion in Bonds and Bills This Week

“NPP Representatives Avoiding Debates Amid Accusations” – Kanchana Wijesekera

Massive Debt Accumulation Under Dissanayake Sparks Criticism

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