• Foreign debtors might ask Sri Lanka to restructure domestic debt first

By Yohan Perera 

Sri Lanka cannot depend on IMF assistance alone as such assistance is uncertain, MP Patali Champika Ranawaka said.  Minister Ranawaka told a forum that IMF assistance depends on transparency, genuineness when dealing with debtors, treating the debtors without discrimination, and to restructure the debt in internationally recognised norms. “The foreign debtors might ask Sri Lanka to restructure domestic debt first. 

However, Sri Lankan government has said domestic debt will not be restructured. This is an uncertain situation,” the MP said. 

“Finance Ministry should get rid of its attitude of following financial extremism. It should think of all aspects when it comes to the economy. It should think of what would happen to industries if taxes are increased continuously. Also, confrontational politics will not help Sri Lanka anymore. Therefore, a combined effort of all parties is essential,” he added.