The People’s United Opposition yesterday (01) alleged that the International Monetary Fund (IMF) had turned a blind eye to serious corruption allegations against the NPP government and was going ahead with the USD 2.9 bn loan in terms of the Extended Fund Facility (EFF) programme, finalised in 2023.

Addressing the regular weekly media briefing at the Flower Road Office of former President Ranil Wickremesinghe, former Ministers Prof. G. L. Peiris and Patali Champika Ranawaka questioned the failure on the part of the IMF to act in spite of the NPP government engaging in open corrupt practices, contrary to the terms and conditions of the agreement/understanding with the lending agency.

The media was told that the IMF couldn’t absolve itself of the responsibility for the actions of the government, especially because Sri Lanka, experiencing severe economic difficulties, was receiving loans from IMF at over 8%. Ex-parliamentarian Ranawaka pointed out that what Sri Lanka received from the IMF was not JAICA-type soft loans and the country was further burdened.

Prof. Peiris and Ranawaka alleged that the IMF appeared to have chosen not to take up the serious and growing accusations, particularly over coal and fuel scams that caused massive losses. They claimed the government had taken decisions at the expense of the country but for the benefit of certain businessmen close to them.

Both Prof. Peiris and Ranawaka explained the circumstances under which certain persons and companies received privileged status to import very costly vehicles and even helicopters and aircraft as the government

wasted precious foreign reserves for the benefit of friends. Ranawaka named two companies that benefited from government actions while alleging that those engaged in lucrative coal and fuel business made a killing.

They pointed out that the IMF released the latest USD 695 mn amidst stepped up serious allegations against the government. (SF)