Text and picture by PRIYAN DE SILVA

An online petition, initiated by ‘Save Sri Lanka,’ to be forwarded to the United Nations, International Monetary Fund and the World Bank, attributes Sri Lanka’s present plight to bad economic decision making, poor fiscal planning and management as well as rampant corruption by politicians and government officials.

As stated in the petition, for the first time in its history, Sri Lanka has failed to honour debt repayment and declared bankruptcy.

In response to this crisis, the Sri Lankan government is currently negotiating to restructure existing foreign loans and seek additional IMF loans to address the country’s deficit in foreign reserves. Sri Lanka is asking its expatriates and the rest of the world to help it weather this storm. It also wants to attract more foreign tourists. All measures are aimed at increasing Sri Lanka’s foreign reserve.

“Save Sri Lanka’ says that if entrenched patterns of financial mismanagement and corruption continue as usual, this latest injection of foreign investment will not contribute to sustained economic growth; nor will it improve the living conditions of the most vulnerable sections of the population. In a corrupt and mismanaged economy, investors cannot expect adequate returns or security for their investments. Tourists will not feel safe to visit a country where there are doubts about the rule of law and protection of human rights.

“In recognition of these structural problems, a loud cry for political and economic reforms has emerged from across the country. Even now, there are ongoing nonpartisan and non-violent protests in many parts of Sri Lanka with the main protest taking place at Galle Face, Colombo. These protests demand the resignation of the President and the Prime Minister, who are largely responsible for the current crisis. The Galle Face protest, which began on 09 April 2022 is attended by hundreds of thousands of people from different political, racial, religious, and social backgrounds.

“In solidarity with these protests, and with the aim of preventing corruption, establishing the rule of law, and fostering a culture conducive for sustained economic growth and tourism in Sri Lanka, the signatories to the petition request the Sri Lankan Government to make the following changes with immediate effect:

“The current President and the Prime Minister must resign immediately allowing an interim administration to take over governance of the country

“The interim and future administrations should:

:Abolish the 20th Amendment to the Sri Lankan Constitution

Reinstate the National Audit ACT, No. 19 of 2018

“Pass new laws in Parliament requiring politicians to declare assets prior to running for election and to be subjected to an audit of their asset and liability declaration at the end of their term in Parliament

“Pass new laws in Parliament requiring politicians and state officials to declare conflict of interests relating to any posts that they hold

“Reinstate the rule of law and the independence of the judiciary to hold politicians (ministers, prime minister, and the president) accountable for their decisions and actions

“Restructure current taxation laws to minimise indirect tax that burden the low-income groups more and enforce income-based tax policies

“Establish mechanisms to recover the country’s stolen assets and proceeds of corruption.”