Sajith slams government for IMF dependence, warns of 2028 debt crisis

Opposition Leader Sajith Premadasa told Parliament today that, at the current pace, Sri Lanka’s 2028 debt repayments will pose a massive economic challenge. He said that although the government’s policy statement (page 105) mentions a new debt restructuring arrangement under fresh IMF conditions, in practice the same agreement signed by the previous administration continues without change. Premadasa also noted that promises made to reduce electricity tariffs by 33%—including lowering a Rs. 9,000 bill to Rs. 6,000 and Rs. 3,000 to Rs. 2,000—had not been fulfilled, while tariffs are now set to rise again by 6.8%. He accused the government of…

Read the full article →