INSUBCONTINENT EXCLUSIVE:
President Ranil Wickremesinghe emphasized the imperative of not forgetting the hardships endured in the past due to shortages of essential
initiative aimed at fostering a new economic transformation in Sri Lanka, ensuring that future generations do not have to face similar
challenges.He stated that the government concluded the second round of discussions with the IMF Board of Directors last week received
marks a significant step towards lifting the country out of the crisis it has faced
during the recent COVID-19 pandemic
Your proactive response and commitment were crucial during a challenging period when governmental systems faced significant
strain.Furthermore, as per the communication from your association, we are actively engaging to address arising issues and implement
It is undeniable that many lives in our country have been preserved due to your dedication
In the past, there were financial constraints hindering access to essential medicines nationwide, yet you remained steadfast
Your unwavering commitment exemplifies the responsibility we expect from every citizen of our nation, a trait unfortunately not always
prevalent.Neither you nor I are unfamiliar with these challenges, but we are collectively dedicated to rebuilding our country to the best of
our abilities.When I assumed leadership of this country, we faced dire circumstances
Foreign exchange was scarce, and funds for essential medicines and fuel were lacking
We were confronted with tough choices, deciding whether to allocate funds for fuel or fertilizers
Opting for fertilizers, we revived agricultural activities, boosting production and ensuring access to medicines and fuel for our people
It was a challenging period, but crucial support from the Indian and Bangladeshi governments enabled us to import medicines and essential
food items, sustaining us through the initial difficult 06 months
Subsequently, the nation began to progress steadily.During this time, there were heart-wrenching moments when people sought medicines
You have faced the agonizing choice of denying them medication or providing aid amidst scarcity
These decisions were agonizing, but collectively, they propelled our country forward
Implementing necessary measures, including VAT adjustments, bolstered our revenue streams, strengthened the rupee, and facilitated economic
Today, we are advancing as a nation due to the resilience shown during these trying times.Last week, we concluded the second round of
discussions with the IMF Board of Directors
We received confirmation that the program guiding Sri Lanka is on the right track
Consequently, we have been granted an extension to repay our debts
Currently, negotiations are underway with China to finalize these arrangements
committees, to reach agreements.This marks a significant step towards lifting the country out of the crisis it has faced
However, our journey does not end here
It is imperative that we reflect on the reasons behind our economic challenges.Historically, Sri Lanka has not cultivated a robust export
industry despite numerous opportunities
In 1979, during my visit to China, the country was economically less developed than Sri Lanka
Today, China supports us financially
foreign exchange, and establishing economic zones
Now, if I were to visit Vietnam, I would seek advice from them.We have squandered many opportunities
If we fail to rectify this and transition to a new economic paradigm, we risk sliding back into economic turmoil
To prevent a return to those dark days, we have introduced a new economic program for the country.We must depart from the old system and
Our trajectory should mirror the progress achieved by nations like India and Bangladesh, fostering a competitive economy
