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Massive Debt Accumulation Under Dissanayake Sparks Criticism

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...

Jagath Manuvarana, a Kandy district candidate from the National People’s Force, recently discussed his need for essential facilities, including a vehicle, should he be elected to Parliament. During his participation in the “Satana” program on Sirasa TV, he shared his current campaign efforts and his vision for public service if he becomes an MP. Currently using a vehicle for campaign activities, Manuvarana explained that, as a former actor accustomed to public transport for work, he would require additional support to meet the demands of parliamentary responsibilities. He mentioned that while he has been able to build a house and acquire a personal vehicle, he has not yet achieved complete financial stability. For him, politics is an opportunity to serve the public, and he expressed satisfaction with both his political and artistic careers, emphasizing that true happiness varies for each individual. Through his remarks, Manuvarana highlighted the balance between practical needs for effective governance and personal fulfillment in his journey as a candidate.

“I Might Need a Vehicle and Facilities After I Become a MP” – Jagath Manuwarna

Editor November 10, 2024

Jagath Manuvarana, a Kandy district candidate from the National People’s Force, recently discussed his need for essential...

“If NPP Wins The Coming Election, An Egg Will Cost Thousand Rupees.. ” – Ranil "If NPP Wins The Coming Election, An Egg Will Cost Thousand Rupees.. " - Ranil

“If NPP Wins The Coming Election, An Egg Will Cost Thousand Rupees.. ” – Ranil

Editor November 10, 2024

Former President Ranil Wickremesinghe said that if the National People’s Power Party wins the next election, an...

Ferguson’s Hat-Trick and Phillips’ Final-Over Heroics Help New Zealand Defend 108 Against Sri Lanka Ferguson's Hat-Trick and Phillips' Final-Over Heroics Help New Zealand Defend 108 Against Sri Lanka

Ferguson’s Hat-Trick and Phillips’ Final-Over Heroics Help New Zealand Defend 108 Against Sri Lanka

Editor November 10, 2024

New Zealand’s improbable defense of 108 runs against Sri Lanka in the second T20 of the series...

City of Dreams Colombo Casino Pre-Opening Costs Reach Rs 1.95 Billion

Editor November 10, 2024

The pre-opening phase of Colombo’s City of Dreams casino complex has seen substantial investment, with John Keells...

“CBSL’s Money Pumping Practices Continue Amidst Reduced Infiltration” – Rohini Kaviratne "CBSL’s Money Pumping Practices Continue Amidst Reduced Infiltration" - Rohini Kaviratne

“CBSL’s Money Pumping Practices Continue Amidst Reduced Infiltration” – Rohini Kaviratne

Editor November 10, 2024

Matale, Sri Lanka — Former Member of Parliament Rohini Kaviratne has raised concerns about continued money-pumping practices...

“Sri Lanka Could Become a European-Style Developed Nation in 5 Years” – Minister Vijitha

Editor November 10, 2024

Minister Vijitha Herath has asserted that Sri Lanka could become as developed as a European country in...

Anura’s Administration to Resume LNG Procurement Process Suspended by Ranil’s Govt Anura's Administration to Resume LNG Procurement Process Suspended by Ranil's Govt

2 min read

Anura’s Administration to Resume LNG Procurement Process Suspended by Ranil’s Govt

Editor November 10, 2024

The newly formed government, under President Anura Kumara Dissanayake, has announced the resumption of the liquefied natural...

1 min read

Liquor Licenses to Be Renewed Only with Tax Clearance Certificates

Editor November 10, 2024

Starting January 1, liquor license holders must provide tax clearance certificates from the Department of Inland Revenue...

Decision Made to Reevaluate School Syllabus: Memorization Method is Outdated

Editor November 10, 2024

Upul Kumarapperuma, the Matara district candidate for the National People’s Power, emphasized the urgent need to reform...

Sri Lanka

Massive Debt Accumulation Under Dissanayake Sparks Criticism

“I Might Need a Vehicle and Facilities After I Become a MP” – Jagath Manuwarna

“If NPP Wins The Coming Election, An Egg Will Cost Thousand Rupees.. ” – Ranil

Ferguson’s Hat-Trick and Phillips’ Final-Over Heroics Help New Zealand Defend 108 Against Sri Lanka

City of Dreams Colombo Casino Pre-Opening Costs Reach Rs 1.95 Billion

“CBSL’s Money Pumping Practices Continue Amidst Reduced Infiltration” – Rohini Kaviratne

“Sri Lanka Could Become a European-Style Developed Nation in 5 Years” – Minister Vijitha

Anura’s Administration to Resume LNG Procurement Process Suspended by Ranil’s Govt

Liquor Licenses to Be Renewed Only with Tax Clearance Certificates

Decision Made to Reevaluate School Syllabus: Memorization Method is Outdated

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