IMF only viable path for country to overcome economic crisis

President Ranil Wickremesinghe on Monday stressed that the agreement with the International Monetary Fund is the only viable path to overcoming the economic crisis. He added that significant relief has been received to the country through this agreement.

The President added that he was determined to have quick recovery and sustaining this recovery and fostering long-term economic growth require adherence to the agreement with IMF.

“I was determined not to let us fall into the trap Greece did, where after reaching an agreement, they held an election and a referendum that rejected the deal, leading to another economic collapse. It took Greece a decade to recover.

My goal was a quick recovery, and that’s what we’ve achieved”, the President said.

Speaking at the 37th Annual Conference of the Organisation of Professional Associations of Sri Lanka (OPA) at the Shangri-La Hotel, Colombo on Monday (26), the President highlighted the critical role of public support in ensuring the success of the government’s economic recovery programme.

The President added that despite the challenges, the agreement we reached has led us out of crisis and brought hope for growth and relief to the people. “For instance, energy prices have stabilised, and we’re seeing positive results in other areas. Some argue we should change or discard the agreement, but that’s unrealistic. The path we agreed upon with the IMF is the only viable one, and it has provided us significant relief, stretching payments and giving us time until 2042 to adjust,” the President said.

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