SJB doubtful of quick IMF assistance

By Sandun A Jayasekera  

The quick approval of financial assistance from the IMF expected by the government is extremely doubtful as the IMF has reservations on debt restructuring as the two year moratorium offered to Sri Lanka by the Exim Bank of China for debt servicing is reportedly not sufficient, the main opposition SJB said yesterday.  

The foreign media and IMF sources have cast doubts about releasing of the first tranche of US$ 2.9 billion extended fund facility by mid-2023 as agreed upon in early September after conclusion of the staff level talks, the Chief opposition whip and senior vice president of the SJB, Lakshman Kiriella said.    If this setback is not enough the government continues vigorously to prove that Sri Lanka is a bankrupt, failed and pariah state unqualified and unsuitable for any assistance by the global financial agencies like the IMF, World Bank and ADB or donor countries with its records of economic crimes, human rights violations and suppression of democratic rights of the people, he added.    The unexpected and arbitrary prorogation of Parliament by President Ranil Wickremesinghe was the latest of dictatorial act of the Ranil – Rajapaksa regime, he charged.   “Neither had we, the main opposition SJB nor any other opposition party had a clue on the sudden prorogation until the media announced it. The normal procedure in a country that practices democracy is to consult the opposition before the prorogation,” Kiriella said.  

With the prorogation, all oversight committees, select committees and their inquiries have ceased to be active. The public inquiries of oversight committees like COPE, COPA and PFC will come to an end. 

It will be another three-four months to reconstitute these committees while the government gets a free hand on public finance with no oversight, accountability or prudent fiscal management, he said.   “The speaker and President owe an explanation to the Parliament and the people as to what were the reasons that led to a second prorogation of Parliament so suddenly in seven months,” he stressed.   

The government tries hard to prevent the conduct of the Local Council (LC) polls frightened about the results.