Opposition Leader Sajith Premadasa has accused the government of betraying public trust by agreeing to terms with the International Monetary Fund (IMF).
Speaking in Parliament, he described the IMF agreement as one of the greatest betrayals in recent times and urged the government to present the full details of the arrangement to the legislative body for discussion before December 12th.
He highlighted Ghana’s successful negotiation of better terms with the IMF, securing a 37% debt reduction and a 6% interest rate, as an example Sri Lanka should follow. He criticized the current agreement for failing to achieve similar results, warning that it could trap the country in long-term debt.
He argued that under the present terms, Sri Lanka would face an additional $2.3 billion in debt payments between 2025 and 2028, with interest rates potentially rising to 9.65% by 2032. Premadasa called for bipartisan efforts to negotiate more favorable terms, emphasizing that rejecting unfavorable proposals could lead to a stronger deal for the nation.
The opposition leader urged the government to reconvene Parliament and allow for a robust debate on the agreement to ensure Sri Lanka’s economic future is safeguarded.
