IMF Acting Like a Loan Shark, Claims SJB MP

COLOMBO (News 1st); Samagi Jana Balawegaya (SJB) MP Sujeewa Senasinghe has launched a sharp criticism of Sri Lanka's continued reliance on the International Monetary Fund (IMF), likening the global lender to a "loan shark" and warning that the country is heading towards a deeper economic crisis.

Speaking in Parliament, Senasinghe argued that while the IMF becomes necessary during times of severe economic distress, it cannot serve as a long-term solution to the country's financial problems.

"The IMF is like a loan shark. But sometimes you need a loan shark. When a country is unable to survive, you have to borrow from whoever is available and try to rebuild the economy," he said.

However, the opposition MP claimed that the IMF's primary concern is debt repayment rather than the long-term development of countries receiving financial assistance.

"The IMF does not worry about whether a country develops or not. Its focus is on collecting taxes, imposing property taxes, inheritance taxes and ensuring debts are repaid by squeezing people as much as possible," Senasinghe alleged.

He further criticised the government's handling of economic recovery, stating that assurances had previously been given that Sri Lanka would reassess its engagement with the IMF, but no meaningful review had taken place.

According to Senasinghe, the burden of current economic policies is being felt across society, particularly by farmers, business owners and ordinary citizens struggling with the rising cost of living.

"The farmer is suffering. The businessman is suffering. Ordinary people are suffering. People cannot even afford to buy fuel," he said.

Senasinghe warned that the country was moving towards a dangerous path that could further worsen living conditions.

"My concern is that Sri Lanka is heading towards a major abyss. People are finding it increasingly difficult to live, and the situation is not improving," he said.