6 March 2024 10:44 am Views - 66
By Kelum Bandara
The National People’s Power (NPP) said it would not derail the IMF programme if it won the presidency but would renegotiate its terms and conditions on implementations since the current austerity measures had burdened people and the attempts of the government to sell off public assets would bring severe economic consequences to the country.
NPP economic council member Prof. Anil Jayantha said his party would also seek speedy actions on the debt restructuring process.
Also, he said that a homegrown solution to stabilise the economy is needed and NPP is ready to come out with such plans of unleashing the growth potential, increasing government revenue, rebuilding foreign reserves and directing the economy for a sustainable growth.
However, he said the present government could have gone for early negotiations with creditors in advance and explored other options available and adopted by other countries if it had a genuine intention of recovering the economy.
He said the country is now half way through the programme and therefore his party will not deviate from it as a pragmatic approach. Commenting more on the debts, he said the NPP would conduct an inquiry into certain credit agreements and how such borrowed funds were utilised.