The appointment of Anura Kumara Dissanayake as the President of Sri Lanka was not a coincidence; it resulted from the people’s efforts to seek answers to long-standing issues. The leaders who governed Sri Lanka since its independence in 1948 have failed to address these pressing challenges.
Corruption and fraud have become pervasive issues, with every president, government, and minister who has come to power facing allegations of corruption to some degree. The public has been largely unimpressed with the actions of recent presidents.
Strong accusations have been directed towards leaders such as Mahinda Rajapaksa, Maithripala Sirisena, Gotabaya Rajapaksa, and Ranil Wickremesinghe, leading to a widespread rejection of their leadership.
The people entrusted the country’s power to the National People’s Power, led by the Janata Vimukthi Peramuna, which had never held power before.
Other political parties have raised concerns that the country will face bankruptcy again without international support if Anura Kumara Dissanayake comes to power.
However, this situation does not appear to be likely, and it is becoming evident that the accusations made by other political parties are merely fabricated for their political gain.
Certificate of the Managing Director of the International Monetary Fund (IMF)
The International Monetary Fund (IMF) has demonstrated its support for Sri Lanka’s ongoing reforms. The 2024 annual IMF and World Bank Group meetings will be held in Washington, USA.
Several representatives were present, including Central Bank Governor Dr Nandalal Weerasinghe and Finance Ministry Secretary Mahinda Siriwardena.
During their discussions with the IMF Managing Director, they emphasised their commitment to supporting Sri Lanka’s reform efforts. The Managing Director also assured them of her support in helping the people of Sri Lanka build a better future.
The IMF stated that significant progress has been made under its program. The managing director noted that an opportunity has arisen to implement the program under the new president.
However, efforts to resolve the economic crisis through local solutions were unsuccessful. As a result, the government had to seek assistance from the monetary fund in 2022 to address the situation.
The decision to maintain a fixed exchange rate of Rs. 203 between the US dollar and the rupee led to a worsening exchange crisis day by day.
As a result, the Central Bank’s foreign reserves were gradually depleted, creating a situation where there was insufficient foreign exchange to import oil and gas. This crippled the country’s production processes, making it increasingly difficult to find solutions to the crisis.
In this context, Sri Lanka sought assistance from the International Monetary Fund (IMF). Consequently, the country gradually stabilised its situation through the IMF’s program.
According to Kristalina Georgieva, the Managing Director of the International Monetary Fund, the progress made so far represents significant achievements and challenges.
She has emphasised to the new government the importance of safeguarding these accomplishments.
Even as the new government plans to implement amendments to the monetary fund program, it is crucial to maintain the economic progress that has already been achieved.
The path ahead may be difficult, as the Sri Lankan people have faced numerous challenges in pursuing economic gains.
Who went through the Vine Bridge?
Former President Ranil Wickramasinghe stated that the nation, his “child,” has been navigated through a challenging path. He intended to pass on his beloved “child” to the new President, Anura Kumara Dissanayake.
However, former President Ranil seems to have overlooked a crucial point: the people are exhausted from this ongoing crisis, which he failed to acknowledge.
After Ranil Wickramasinghe came to power, many individuals who held responsibilities in the previous government enjoyed comfortable lives.
A minority benefitted from various advantages, such as secured positions, employment opportunities, allowances, and vehicle facilities. The new government also published lists naming many who benefited in this manner.
In this situation, Ranil Wickramasinghe has allowed others to choose a different path by encouraging the common people to cross the Vine Bridge.
His approach to rescuing the bankrupt country raises concerns. Therefore, it is crucial to emphasise that the new president should not follow the same course as the former president did with the Vine Bridge.
However, under President Gotabhaya Rajapaksa, the economy, which had collapsed, managed to recover significantly due to the monetary fund program.
The new government’s decision to implement this program with amendments is crucial, as it aims to alleviate the pressure on ordinary citizens.
Consequently, people look forward to benefiting from the favourable conditions that may arise from these changes, particularly regarding reduced economic pressure. This is a crucial point.
The expectation of monetary fund
The expectation that the International Monetary Fund (IMF) will contribute to Sri Lanka’s future benefits has been confirmed. Whether under a Ranil Wickramasinghe government or an Anura Kumara Dissanayake government, the IMF’s support for Sri Lanka remains unchanged. This support is impartial and not influenced by political party affiliations or differences in government.
The foundation of the program is essential. Therefore, the new government should develop alternative proposals and amend the existing program positively. When presenting these alternative proposals, ensuring they are also acceptable to the monetary fund is crucial. Both parties must agree on these proposals and work towards their implementation.
As a result, there will be no opportunity for lateral implementation. Failure to act accordingly may result in the loss of future instalments from the monetary fund’s extended credit facility.
Statements made by representatives of the National People’s Power Party on the political stage—such as “no country has developed by working with the IMF” and “they are bringing money hidden in Uganda”—should not be taken seriously now.
While these remarks were made in a political context, it is essential to understand that the program implemented with the International Monetary Fund involves international transactions. Furthermore, the representatives and the public should recognise that the National People’s Power is currently in government.
Political platform and governance
What the people of this country were instructed to do to “catch thieves” should be carried out according to the existing legal process.
Additionally, these issues can be re-examined through a new testing process. Many cases of fraud and corruption may remain hidden. It would also be satisfying if the law were enforced against those responsible.
Suppose the National People’s Power possesses files related to fraud and corruption. In that case, it can use its current state authority to submit these documents to law enforcement agencies.
Additionally, there are instances where the existing legal provisions may not be adequate to take action against fraud and corruption. In such cases, it will be necessary to amend or introduce new laws and ordinances.
