Editorial
Economy, debates and hard facts

Monday 10th June, 2024
Presidential candidates of the SJB and the JVP-led NPP, Sajith Premadasa and Anura Kumara Dissanayake, respectively, have chosen to sprint even before the commencement of the next presidential race, which is a marathon, wherein one has to pace oneself skilfully to prevent fatigue and maintain momentum. The two sides have been challenging each other to a debate on the economy, giving the impression that the upcoming presidential contest will be a two-horse race, and therefore only the views of Premadasa and Dissanayake on the economy matter. Overconfidence has to be avoided in every contest if defeat is to be averted.
External debt restructuring has not been concluded yet, and therefore it is doubtful whether this is the ideal time for a debate on the economy. However, it is heartening that politicians and the public have at last realised the need to remain focussed on the economy, which must be prioritised over everything else if the country is to come out of the current crisis and attain progress.
It is up to the people to elect as their President the candidate who is capable of handling the economy better than others in the fray. It will be a grave mistake for them to be swayed by other factors such as political allegiances, promises, handouts, caste, ethnicity, religion, and kinship when they vote at future elections.
That they have not exercised their franchise wisely all these years has become evident from the sheer number of elected misfits who are responsible for the current economic crisis. Unless they act responsibly, learning from their past mistakes, the country is bound to be mired deeper in crisis.
There is arguably no need for President Ranil Wickremesinghe, who is the UNP’s presidential candidate, to reveal his economic policies, which he has already unveiled and is in the process of implementing. It is the other candidates, especially Premadasa and Dissanayake, who will have to sell their economic policies to the people. Wickremesinghe’s economic thinking is known to one and all, and only a debate will compel Premadasa and Dissanayake to present views on the economy in an organised manner for the public to decide whether they are fit to wield the executive presidency.
On Thursday (06), Dissanayake, in an interview with the Independent Television Network (ITN), spoke extensively about how he would manage the economy in case of securing the presidency. The ITN programme was to be a debate between him and Premadasa, who skipped it. The SJB’s position is that a debate between the economic councils of the two sides should be held first.
Dissanayake can be considered to have come out with some arguments he was planning to put forth in a debate with Premadasa. It has become clear from his views on the circumstances under which the government had to seek IMF assistance in 2022, and external debt servicing, that he, like other Opposition politicians, subscribes to some misconceptions anent the economic crisis and the recovery process.
He said, in the ITN interview, that the country had been in a position to obtain funds from some friendly nations, especially China, to avert the economic crisis when the government committed it to an IMF bailout programme, and that it has been possible to manage the forex crisis to some extent because of the non-payment of external debts.
Sri Lanka was left with no alternative but to seek IMF assistance albeit belatedly. It was struggling to save its economy from a crash landing in 2022, and its development partners including China insisted that it secure an IMF programme to receive any further funding assistance. Last assistance from China came in August 2021, and that was for importing COVID-19 vaccines and it amounted to about 2 billion RMB, according to information available to us.
India gave only short-term credit until July 2022 to the tune of USD 4 billion maturing within one year. After realising that Sri Lanka would not be able to repay such credit within one year, it stopped funding. The government has had to manage with foreign exchange inflows such as exports remittances and some assistance from the IMF, the World Bank and the ADB since then.
External debt servicing has not been stopped completely. The government has been continuously servicing all multilateral debt service obligations including those to the World Bank, the ADB and the IMF. What one gathers from the reports prepared by the Finance Ministry and the Central Bank on the economic crisis and debt servicing is that Sri Lanka’s forex debt service payments, since the declaration of a soft default in 2022, amount to USD 3.56 billion. The government has paid back the Bangladesh swap and started to repay the one from India and other short-term liabilities.
Besides, it has serviced all rupee debt obligations without any default. It now claims that the servicing of future debt obligations, after restructuring, will not be an issue as the country’s external reserves have already risen to more than 5.5 billion, with the rupee appreciating.
The government deserves the bashing it receives for extreme revenue boosting measures, corruption, waste, attacks on democracy, etc., but the aforesaid vital facts about IMF assistance, debt repayment and forex reserves must not be ignored in any discussion/debate on the economy if the public is to get a clear picture of the economic situation.
Editorial
Good governance: Pie in the sky?

Thursday 24th April, 2025
The NPP government is coming under increasing pressure to disclose the contents of the MoUs it signed with India during Indian Prime Minister Narendra Modi’s recent Sri Lanka visit. But it keeps them under wraps, trotting out various excuses and exuding hubris. Minister of Foreign Affairs Vijitha Herath as well as Cabinet Spokesman and Minister Dr. Nalinda Jayatissa has said anyone can invoke the Right to Information (RTI) laws and obtain information about the MoUs in question. Curiously, Dr. Jayatissa has reportedly said that some information about the MoUs cannot be revealed to the public without India’s consent! So, the question is whether he and Herath think Sri Lanka’s RTI Act will compel India to consent to reveal the contents of the controversial MoUs to the Sri Lankan public.
The NPP government never misses an opportunity to flaunt its popular mandate and brag that it has been elected by as many as 6.8 million people. But it does not respect their right to know the contents of the agreements/MoUs it has entered into with another country. Those people voted for the NPP in the hope that it would fulfil its pledge to usher in good governance.
Claiming that all its predecessors had only paid lip service to good governance, the NPP sought a mandate to make a difference. But there has been no radical break with the past under the current dispensation, as evident from the manner in which the NPP is conducting its first election campaign after being ensconced in power. It has adopted the same modus operandi as its predecessors in a bid to win the upcoming Local Government (LG) polls. State workers have been given pay hikes; government politicians are issuing threats to impose fund restrictions on the local councils to be won by parties other than the NPP; President Anura Kumara Dissanayake, who is also the leader of the JVP and the NPP, has promised to expand the Aswesuma social welfare scheme to include 400,000 more families; the government tried to distribute dry rations about two weeks ago to muster favour with the public, and it has pledged to recruit 35,000 more individuals into the state service, which is already bursting at the seams.
The JVP/NPP has made a mockery of its much-advertised commitment to good governance by refusing to ensure transparency regarding the aforementioned MoUs with India, especially the one on defence cooperation. The UN has defined good governance as the transparent, accountable, inclusive, and efficient management of public affairs and resources. Good governance cannot exist in a political environment devoid of transparency and accountability.
The JVP/NPP leaders vehemently protested when the previous government dragged its feet on presenting its agreement with the IMF to Parliament. Today, they are practising exactly the opposite of what it asked its predecessors to do. They insist that their MoUs with India do not contain anything detrimental to Sri Lanka’s interests. If so, they should have made the contents thereof readily accessible to the public of its own volition.
The JVP-led government has rightly undertaken to ensure that justice will be served to the victims of the Easter Sunday terror attacks expeditiously. It must go all out to fulfil that pledge. However, first of all, it ought to tender an unqualified apology to the public for its reign of terror, which destroyed thousands of lives and state assets worth billions of rupees in the late 1980s, when it campaigned against the Indo-Lanka Accord, claiming that it had been thrust on Sri Lanka. It sought to justify its mindless terror by claiming that violence was the only means it was left with in its efforts to defeat what it described as Indian expansionism, but today it has no qualms about signing MoUs/agreements with India on the sly. It is only fuelling speculation that it is doing its damnedest to prevent the ill-effects of its deals with India from becoming public in the run-up to the upcoming LG polls.
Editorial
Waiting for Godot?

Wednesday 23rd April, 2025
A four-member committee has been appointed to study the report of the Presidential Commission of Inquiry (PCoI) that probed the Easter Sunday terrorist bombings (2019). It comprises a Senior Deputy Inspector General (Chairman), the DIG of the CID, Director of the CID and the Director of the Terrorism Investigation Division. It is reported to have set up several subcommittees. Based on new evidence that may emerge, fresh investigations will be launched, the Police Media Spokesman has said.
Thus, the NPP government, too, has chosen to kick the can down the road, so to speak. All signs are that the committee and its subcommittees will take a month of Sundays to study the PCoI report, and fresh investigations to get underway on the basis of their findings and observations could go on until the cows come home.
What impact will the PCoI report have on the police investigations that have been going on into the Easter Sunday carnage for years? If the police have not already drawn on the PCoI findings and observations in probing the terror attacks, their investigations are likely to be delayed further until the conclusion of the perusal of the document.
One may recall that in August 2021, the Catholic Church demanded credible answers, within one month, to questions regarding the Easter Sunday tragedy. Its ultimatum, given in a 20-page letter, prompted the Gotabaya Rajapaksa government to have the then IGP C. D. Wickramaratne issue a special statement explaining why the probe into the Easter Sunday terror attacks had been delayed. He found fault with those who had handled the police investigations previously.
Wickramaratne’s statement, which shed light on the sorry state of affairs in the CID and other investigative branches of the police, warrants the attention of those who seek justice for the Easter Sunday carnage victims expeditiously. Wickramaratne said the police probes into the terror attacks had been riddled with flaws. Investigators had been in an inordinate hurry to make the bombings out to be the work of a handful of extremists with links to ISIS, and no serious attempt had been made to get to the bottom of the carnage, he said, claiming that they had also taken great pains to prove that all those involved in the terror attacks had been either killed or arrested. Some police officers handling investigations had acted irresponsibly, said Wickramaratne, noting that certain ego-driven investigators had tried to conclude the probes fast, and claim the credit for that; their approach had adversely impacted the criminal investigations.
The PCoI report had been referred to the Attorney General for necessary action, Wickramaratne noted, claiming that the previous investigations had been characterised by a total lack of coordination among the investigation teams, who worked in water-tight compartments. That fact had become evident from the way some incidents had been probed before the Easter Sunday bombings, IGP Wickramaratne said, pointing out that their interconnectedness had gone unnoticed.
Some other factors IGP Wickramaratne adduced to explain the delays in the police investigations in question were the process of ascertaining information from the countries where some suspects were living, and the gathering of evidence pertaining to telephone conversations from 24 June 2014 and analysing them to determine when the dissemination of extremist ideas began in this country and how extremism developed. Among those who aided and abetted the perpetrators of the Easter Sunday attacks were some educated persons and professionals, and given their calibre and social standing, investigations had to be carried out thoroughly if they were to be successfully prosecuted, Wickramaratne said, claiming that it had taken four years to bring those responsible for the bomb attack on the Dalada Maligawa in 1998 to justice, and investigations into the suicide bomb attacks on a religious ceremony held by a mosque at Akuressa in 2009 had taken seven years. The police had been able to carry out those investigations free from pressure, he said.
Cabinet Spokesman Dr. Nalinda Jayatissa has gone on record as saying that the task of disclosing the masterminds behind the Easter Sunday terror attacks should be left to the CID and the judiciary. The government, which promised to name the terror masterminds itself, has made another about-turn! With the investigative process marked by delaying tactics, inaction and deflection, it may not be unreasonable to say that at this rate, justice for the victims of Easter Sunday carnage may be galactic years away.
Editorial
Endless probes and conspiracies

Tuesday 22nd April, 2025
The sixth anniversary of the Easter Sunday carnage has passed, yet the government has failed to fulfil its pledge to make an earth-shattering revelation about the masterminds behind it. Instead, President Anura Kumara Dissanayake has handed over to the CID all volumes of the final report of the Presidential Commission of Inquiry (PCoI) that probed the 2019 terror attacks.
The PCoI has not recommended that its complete report be handed over to the CID. It has requested the President to send ‘a complete set of the report to the Attorney General to consider institution of criminal proceedings against persons alleged to have committed the said offences’.
Interestingly, the PCoI report the President has sent to the CID contains some key findings that run counter to the government’s contention that there was a political conspiracy behind the carnage. The report says in Chapter 32: “The original plan of Zahran was to attack the Kandy Perahera. But it was advanced due to the recovery of explosives from Wanathawilluwa and international factors. IS was losing ground in Syria and Iraq and called on its faithful to launch attacks. He was also concerned that the law enforcement authorities may apprehend him soon” (p. 467).
There is a vital document that President Dissanayake should hand over to the CID. It is the report of the Imam Committee, which probed the allegations made in a Channel 4 programme, ‘Sri Lanka’s Easter Sunday bombings – Dispatches’, telecast on 5 Sept., 2023. That presidential committee comprising former Judge of the Supreme Court S. I. Imam (Chairman), former Commander of the Sri Lanka Air Force Air Chief Marshal Jayalath Weerakkody and President’s Counsel Harsha A. J. Soza, has debunked a much-publicised claim by a person named Azad Moulana that there was a link between Sri Lanka’s military intelligence and Zahran’s terror group.
Some critical aspects of the Easter Sunday terror attacks have not been investigated thoroughly. One may recall that three months after the tragedy, Archbishop of Colombo Cardinal Malcolm Ranjith, reportedly said, at St. Sebastian’s Church, Katuwapitiya, that the terror attacks had been part of an ‘international conspiracy’. Media reports also said he had lashed out at President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe for lacking the courage to resist the foreign conspiracy to destabilise Sri Lanka. As we pointed out yesterday, he is one of the key witnesses who said in their testimonies before the PCoI that probed the Easter Sunday carnage that there had been a foreign hand/conspiracy behind the terror attacks.
Meanwhile, in a leaked audio clip of what is described as a telephone conversation between Deputy Minister Rajan Ramanayake and SSP Shani Abeysekera, during the Yahapalana government, about the Easter Sunday terror attacks, the latter is heard telling the former something in Sinhala to the effect that Mohamed Ibrahim, a wealthy businessman who was a JVP’s National List nominee for the 2015 general election, cannot be so stupid as not to have known what his two sons, who carried out suicide bomb attacks on 21 April 2019, had been doing. If this audio recording is not fake, the CID should go by Abeysekera’s contention, and interrogate Ibrahim again as part of their efforts to identify the terror masterminds. One may recall that when Ishara Sewwandi, a female accomplice of the gunman who killed underworld leader Ganemulle Sanjeewa in a courtroom at Hulftsdorp, went into hiding, the police arrested and grilled her mother and brother. The question is whether the NPP will allow its former National List candidate to be interrogated.
The government and the CID must peruse all reports on the Easter Sunday terror attacks thoroughly, keep an open mind and follow evidence wherever it leads if the integrity of the ongoing probe is not to be undermined. Politically motivated timeframes must not be imposed on criminal investigations.
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