Speaking after Sri Lanka reached a staff-level agreement with the International Monetary Fund (IMF), President Ranil Wickremesinghe said the agreement is an important step in Sri Lanka’s history.
“Not only rising from the bankruptcy crisis and the debt moratorium, it is also key to ensure that our social sectors are protected and both our economic and social aspect of our lifestyle will certainly not have any further setbacks.”
Wickremesinghe said that he considers this to be the beginning of a new economic era, where the country is committed to a very competitive export-oriented industry while maintaining and improving social standards as well as looking after the vulnerable groups.
“The beginning will be difficult, but we know as we go on that we can make more progress. Our commitment is what matters now and we should not only fulfil the targets here, but we must get ahead of them,” the President said, adding, “I appeal to the country, let us reorient ourselves to an export-oriented economy which will also make it easier for us to sustain our social services.”
He also said, it also should be a beginning for the fact that Sri Lanka should reduce its debts and if possible, even eliminate its debts.
The President noted that if the country is to uphold Article 9 of the Constitution, it must follow that path.
“You can’t pay lip-service only. And let this be the beginning and the way forward because on the 75th Anniversary of our Independence this, is the best commitment we can make for the next 25 years.”