By Saman Indrajith

Janatha Vimukthi Peramuna (JVP) stalwart, Bimal Rathnayaka yesterday warned that Sri Lanka would be in serious trouble if it implements IMF recommendations.Rathnayaka said that the Sri Lanka was undergoing a serious economic crisis and shortage of dollars.

“IMF is very attractive to leaders that are not too bright. But can anyone name a single country that has come out of its economic woes by implementing IMF recommendations?” he asked.

Ratnayake said that Sri Lanka would receive some funds from the IMF, but that would not be a long-term solution.

“We can get some dollars and we will have a brief period of reprieve. Then things will get worse than before. The IMF recommendations are not pro growth. People will continue to suffer. The IMF has no solutions to the problems Sri Lanka is facing.

Rathnayaka said that since 1977 Sri Lanka had followed the path recommended by the IMF. “The Rajapaksas have portrayed themselves as anti-IMF, they did take any moves to wean the country from neoliberal economic policies, he said.

“Look at what happened to Greece. It was under European supervision for 12 years. The people suffered, but there has been no growth. The Greece has followed IMF recommendations. They were asked to sell ports, water purification plants, power plants, and finally Greece had to sell its archaeological treasures to hotels,” he said.