- Lauds continuation of reforms despite political change
- Govt committed to building debt-free economy
- Investor Protection Act mulled
International Monetary Fund (IMF) Managing Director Kristalina Georgieva commended Sri Lanka’s steadfast commitment to economic reforms during an extensive online conversation with President Anura Kumara Dissanayake yesterday.
In a significant show of international confidence, she acknowledged the challenges of implementing reforms in a complex global environment and reiterated the IMF’s unwavering support for Sri Lanka’s recovery efforts.
She said it was important to maintain sustained reform efforts adding, “Staying on the path of reforms and demonstrating step-by-step progress remains crucial for Sri Lanka. Today’s economic situation has characteristics, I have never seen before. Change is occurring much faster — on multiple fronts, from technological advancements to unprecedented political shifts.
In this environment, it is even more critical for countries to relentlessly pursue reforms — there is no other way to strengthen an economy”.
In their online meeting, Georgieva praised Sri Lanka’s resilience and its ability to maintain its reform agenda despite political transitions, saying, “My heart is with you. You have been remarkable in navigating out of a very difficult situation while undergoing political change, yet staying the course on reforms.
“Very often, new Governments come in and say,’ What was done before us was all wrong; we will start anew’. Had Sri Lanka chosen that path when it was just beginning to emerge from a very difficult situation, it would have been highly detrimental. My heart goes out to the people of Sri Lanka, and I deeply respect what you have achieved.”
Reaffirming the IMF’s commitment, she added, “If there is anything you believe the Fund can do more — any particular area you would like us to focus on — please reach out. We would be very happy and eager to fully support you in what has been a successful journey.”
President Dissanayake highlighted the Government’s commitment to building a progressive, debt-free economy.
“We cannot continue to run an economy dependent on debt. Instead, we are committed to creating a progressive economy that reduces debt, increases investment, and facilitates sustainable growth,” he said.
“To achieve this, we will introduce suitable legislation, including an Investor Protection Act, and ensure a secure and favourable environment for all investors.”
The President also acknowledged the people’s mandate. “From a party that once secured only three percent of the voter base to now holding the highest number of Parliamentary seats in Sri Lanka’s history, we fully understand and acknowledge the people’s expectations — to eradicate corruption, alleviate poverty, and instil good governance.”
This exchange underscores the strong partnership between Sri Lanka and the IMF, as well as the Government’s dedication to achieving sustainable economic growth and stability.
