US$ 6000 mn needed to avert present economic crisis - Ranil | Daily News


 

US$ 6000 mn needed to avert present economic crisis - Ranil

Former Prime Minister and UNP Leader Ranil Wickremesinghe yesterday said the government should find funds amounting to US$ 6000 million to avert the present economic crisis.

“Sri Lanka should repay US$ 5000 million as loan repayments by the end of this year.

The government is not capable of finding these funds by the end of this year,” he said.

Addressing an election rally in Piliyandala on Sunday evening, Wickremesinghe said that the International Monetary Fund had not provided loans to Sri Lanka and the Japanese government is also seriously concerned about the financial policies of the Government.

“The Government has failed to comply with the IMF directives to reduce fuel prices and pass its benefits to the public,” he said.

He said the country’s economy is in peril as the Government has reduced the tax to be paid by the businessmen when other countries provide funds for private institutes to pay salaries of the employees due to COVID-19 pandemic, the Sri Lankan Government suspends the allowances which are meant for the working masses,” he said.

He said foreign reserves in the country are dwindling and the Government should strive to increase foreign reserves.

Wickremesinghe said the UNP is the only party capable of rebuilding the economy.


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