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SL wouldn’t have been in this mess if IMF conditions had been complied with – State FM
By Shamindra Ferdinanado
State Finance Minister Ranjith Siyambalapitiya has said that Sri Lanka wouldn’t have ended up being bankrupt if previous governments had adhered to agreements with the International Monetary (IMF).
Reiterating that the country is experiencing the worst ever economic crisis, lawmaker Siyambalapitiya warned that the government would be under IMF scrutiny this time around.
Appearing on weekly Hiru political programme Salakuna on Monday (26), the Kegalle District MP, who had previously served as State Finance Minister during Mahinda Rajapaksa’s tenure as the President, said that successive governments hadn’t been honest with the IMF. “We conveniently forgot what was promised to the IMF after having received a couple of tranches,” MP Siyambalapitiya said adding that the IMF would be alert now.
The State Finance Minister said that the first tranche amounting to USD 400 mn was expected in January 2023. The SLFPer emphasised that the financial mess couldn’t be settled with the USD 2.9 bn received from the IMF over a period of four years. However, the agreement with the IMF would restore the foreign governments’ faith in Sri Lanka, the State Minister mentioned.
Pointing out that Sri Lanka had received IMF loans on 16 previous occasions and the recently finalised Staf- Level agreement would lead to the 17th loan facility, MP Siyambalapitiya said that he signed the 15th agreement on behalf of Sri Lanka.
Responding to Hiru anchor Chamuditha Samarawickrema’s query whether economic crimes had been perpetrated as referred to by the United Nations Human Rights Commissioner’s latest report on Sri Lanka, lawmaker Siyambalapitiya said that there were no such crimes here. Therefore, the Geneva statement was not applicable to Sri Lanka. But, when Samarawickrema pressed the Minister on the accountability on the part of former President Gotabaya Rajapaksa’s government for the economic fallout, the lawmaker acknowledged the wrongdoing on their part.
Commenting on former President Gotabaya Rajapaksa’s government depriving the Treasury of over Rs 500 bn by implementing a wide tax cut, soon after the last presidential election, State Minister Siyambalapitiya faulted those who advised the President on economic matters. The State Minister said that the economy was handled by Presidents and Ministers who didn’t know the subject. When Samarawickrema pointed out that the former President was advised by Dr. P.B. Jayasundera, MP Siyambalapitiya said that he didn’t know that. Subsequently, MP Siyambalapitiya acknowledged the role played by Dr. PBJ, who then functioned as Secretary to the President, and previously as Secretary to the Treasury.
During an heated exchange, the State Finance Minister said that the then government reduced the number of tax files from 1.5 mn to 400,000 and the number registered taxpayers from 1.7 mn to 500,000. The MP said that the country was in a pathetic state today as successive governments followed wrong economic policies. The Covid-19 eruption in 2020 and external factors, too, contributed to the overall deterioration of the situation, the MP said.
In spite of clear indications that the country was heading for an unprecedented crisis, the powers that be steadfastly refused to seek IMF interventions. Instead, they continued the same harmful policies.
Asked whether as the State Finance Minister he felt the need to inquire into those responsible for the economic crisis, the MP said “Geneva was conducting investigations.” Samarawickrema asked why Geneva should be placed in charge of such an investigation when the responsibility lies with Sri Lanka. The Minister said: “I won’t hand over investigations to Geneva. I acknowledge the policies followed by successive governments were utterly wrong.
State Minister Siyambalapitiya also explained actions taken by him to explore ways and means of recovering losses suffered by the Treasury as a result of reduction of duty on a kilo of imported sugar from Rs 50 to 25 cents on Oct 13, 2020. The Minister said that Sri Lanka lacked laws to deal with those who perpetrated the sugar scam, adding that one of the sugar importers immensely benefited from the duty reduction.
State Minister Siyambalapitiya strongly defended his decision to accept ministerial portfolio, regardless of specific instructions from party leader Maithripala Sirisena not to do so.
Dismissing accusations that he switched allegiance to President Ranil Wickremesinghe for personal benefit, lawmaker Siyambalapitiya said that some of them accepted portfolios, as the Samagi Jana Balavegaya (SJB), the JVP and others would never have joined the government. They always feared the consequences of President Wickremesinghe overcoming the crisis, MP Siyambalapitiya said.
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It is our collective responsibility to build a nation grounded in unity and strength – President
President Anura Kumara Disanayake in his Maha Shiva rathri message said that it is our collective responsibility to build a nation grounded in unity and strength.
The full text of the message issued by the President’s media division:
Maha Shiva Rathri is a sacred and joyous occasion celebrated by Hindu devotees across the world in reverence of Lord Shiva. This divine night marks the celestial union of Lord Shiva and Goddess Parvati, as well as the powerful Tandava, Shiva’s cosmic dance of creation and destruction. It symbolises the triumph of wisdom over ignorance, dispelling the darkness of illusion and lighting the path to enlightenment.
On this auspicious night, Hindu devotees observe fasting and engage in spiritual practices, praying for the darkness of ignorance to be replaced by the radiance of wisdom. It is also a time to seek divine blessings for prosperity, peace and fulfilment in life.
The union of Shiva and Parvati is a profound representation of knowledge and power coming together. It reminds us that breaking free from the illusions of division allows us to embrace the truth with open eyes. Today, as we stand at the dawn of a new era, this message is more relevant than ever. Let us tear down the barriers that have kept us apart for generations and unite as one, casting aside discord and embracing togetherness. This is a moment to nurture interfaith harmony, celebrate our diversity and move forward with love and mutual respect, dedicating ourselves to the progress of our beloved motherland.
As we journey towards a brighter future, it is our collective responsibility to build a nation grounded in unity and strength. We are stepping into a time of transformation, embracing political, economic and social renewal, shaping a future that holds promise and hope for all.
On this sacred night, as the glowing lamps of Maha Shiva Rathri illuminate our surroundings, let them also illuminate our hearts, guiding us with unwavering faith along the path we have chosen. Let us walk forward together, hand in hand, in the spirit of peace, unity and shared prosperity.
By Saman Indrajith
Finance and Planning Deputy Minister Dr. Harshana Suriyapperuma told Parliament yesterday (25) that SriLankan Airlines was in debt due to political interference under previous governments.
Answering a question raised by Anuradhapura District SJB MP Rohana Bandara, Dr. Suriyapperuma said that such interference had resulted in an ongoing case in international courts.
Dr. Suriyapperuma stated that SriLankan Airlines had earned notoriety for corruption not only here but also abroad.
“Currently, there is an ongoing case in an international court over claims that commissions were sought in respect of the purchase of aircraft. Aircraft have been leased at exorbitant rates, far beyond prevailing market rates,” he said, adding that the actions and decisions of past regimes over the last few decades regarding SriLankan Airlines must be taken into account when examining its debt.
Outlining the measures taken by the government to tackle the staggering debt, the Deputy Minister of Finance said that a five-year programme would be implemented from 2025 to 2030.
Dr. Suriyapperuma explained that despite the allocation of Rs. 20 billion from the 2025 Budget for SriLankan Airlines, the funds would not be utilised for the airline’s operational expenses. Instead, the management had been tasked with transforming it into a self-sustaining entity. Discussions had already begun with relevant stakeholders to restructure the debt, which includes loans obtained in US dollars.
Dr. Suriyapperuma revealed that SriLankan Airlines had been paying USD 900,000 per month in installments for three aircraft that had remained unused for several years. He added that the national carrier currently owned a total of 22 aircraft and employed 3,194 staff members in its main airline operations, along with 2,862 employees in its strategic business units.
Dr. Suriyapperuma also highlighted that the Ministry was currently evaluating those plans, with the expectation of achieving operational profitability and securing government support within the five-year period.
Suriyapperuma assured that measures would be taken to address SriLankan Airlines’ debt without burdening the public.
… Easter Sunday carnage suspects among them
The government has issued a gazette extending the ban on several Tamil diaspora groups, alleging they supported “terrorism-related activities,” The Tamil Guardian has reported.
The gazette, signed by Defence Secretary Air Vice Marshal (retd.) Sampath Thuyyakontha, declared that these organisations have “repeatedly provided financial support for terrorism.” As a result, their financial and economic assets remain frozen, and Sri Lankans are prohibited from having any contact with them. Those that do risk being arrested.
The list also reaffirms the ban on 222 individuals allegedly linked to terrorism.
The organisations blacklisted by the Sri Lankan government include:
* Liberation Tigers of Tamil Eelam (LTTE)
* Tamil Rehabilitation Organisation (TRO)
* Tamil Coordinating Committee (TCC)
* World Tamil Movement (WTM)
* Transnational Government of Tamil Eelam (TGTE)
* World Tamil Relief Fund (WTRF)
* National Council of Canadian Tamils (NCCT)
* Tamil Youth Organisation (TYO)
Other organisations listed include several linked to Islamic groups, such as the National Towhead Jema’ah (NTJ) and the Sri Lanka Islamic Student Movement (SLISM).
The Tamil Guardian reported that successive Sri Lankan governments have used terrorism laws to ban Tamil organisations that continue to function openly and legally in the United States, United Kingdom, Canada, and throughout Europe. This ban, however, stifles links between these diaspora organisations and Tamils, making it a criminal offence for Sri Lankan citizens to maintain contact with them.
The reposition of the ban follows a pattern seen in previous years. In 2024, Sri Lanka renewed its prohibition of Tamil diaspora organisations, days after India extended its own ban on the LTTE. The move was widely condemned as politically motivated and an attempt to justify Sri Lanka’s military presence in the “Tamil homeland”.
It is our collective responsibility to build a nation grounded in unity and strength – President
Fairly heavy showers above 75mm can be expected at some places in Eastern and Uva provinces and in Matale, Nuwara-Eliya, Polonnaruwa, Galle, Matara, Kalutara and Rathnapura districts.
USD 900,000 paid monthly for three unused SriLankan aircraft– Dy. Finance Minister
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