AKD Hints At Sticking With IMF Program; No Unilateral Exit from IMF

by Staff Writer 04-09-2024 | 12:44 PM

COLOMBO (News 1st); Anura Kumara Dissanayake, the presidential candidate for the National People's Power (NPP), has assured the public that the existing economy will remain stable under his leadership.

"First of all, we give you an assurance that the current economy will not be allowed to collapse in any way," Dissanayake stated. "The consensus between the people and us is to move this economy forward by making it more stable and strong. We are a movement that is accountable to the citizens of this country. A movement committed to accountability."

Dissanayake addressed several key economic issues, including bilateral loan and multilateral debt agreements, which are currently under the purview of the International Monetary Fund (IMF).

Dissanayake added that the ISB restructuring is also linked to the IMF program for Sri Lanka. He highlighted the importance of adhering to international financial goals and the parameters set by the IMF.

"At this time, if anyone is thinking of unilaterally withdrawing from the program, it is an abdication of responsibility towards the citizen or the country," he said. "Therefore, we assure you that we will not expect to withdraw from the International Monetary Fund program in any unilateral way."

Dissanayake outlined the NPP's commitment to fulfilling the IMF's parameters, which include maintaining the Primary Balance Target at 2.3% next year and reducing the debt ratio to 98 percent by 2032. He stressed that achieving these economic goals is beneficial for the country, regardless of who sets them.

"It is beneficial for a country to be able to maintain a surplus in the primary account and to reduce our debt burden," he explained. "But the problem arises that the path to achieve those parameters may have individual proposals. Therefore, we will make all the negotiation changes within the framework of the parameters we have presented, their goals and our goals to complete them."

Dissanayake urged the public not to succumb to unnecessary fear.

"That's why I tell the president not to create unnecessary fear again," he affirmed.