Country in a debt trap due to flaws of Rajapaksa regime – PM
Prime Minister Ranil Wickremesinghe yesterday said that the country was trapped in a vicious cycle of debt due to flaws in the economic management and policies of the previous Mahinda Rajapaksa regime.
The Premier said the Unity Government took several measures to ease the burden on the people by increasing the salaries of public sector employees and pensions and reduce the prices of essential goods.
Although it wasn’t an easy task to put the economy back on track, the Prime Minister said the government has been able to repay loans and stabilise the economy amid many challenges. In this backdrop, the Premier said it was amusing to note the former leader who left the country in a vicious cycle of debt trying to speak about economic management and policies of the present government.
Prime Minister Wickremesinghe made these observations at the International Nurses Day-2018 celebration at Temple Trees yesterday.
President Maithripala Sirisena participated as the Chief Guest at the event which was organised by the Government Nursing Officers’ Association.
The Prime Minister said that the former President went on a failed election bid in 2015, held two years prior to the due date of polls, with the intention of establishing power before the economy collapses.
“The previous government doubled Sri Lanka’s debt. They knew they had no chance if the elections were held on time as the economy was collapsing under severe debt. This is why they went for early elections,” Premier Wickremesinghe said.
The Prime Minister said the previous regime reduced the allocations for the health sector and education and the cost of living had reached unbearable levels at the time. The Prime Minister further said that what they accepted on January 8, 2015 was nothing but an enormous amount of loans to settle. He added that the government has been able to settle them successfully.
“By now, we have been able to increase the foreign reserves to USD 9,000 million and we hope to bring it to the level of USD 11,000 by the end of this year,” the Prime Minister said.
The Prime Minister also said that the the UNP made Maithripala Sirisena the Common Candidate and won the election on January 8.
He added then they have given new life to the economy and allocated more money for the health and education sectors than any other government in the country’s history under President Maithripala Sirisena leadership.
He added that the private sector had no any hope during the previous regime but now they have. He added that the massive allocations made under this would not have been a reality had the Good Governance Government not been elected.
The Premier further said that Health Minister Rajitha Senaratne took measures to enhance the Health sector with Rs.25,000 million in allocations. He got more than two fold foreign funds which has to be settled.
“In the meantime, money is allocated for the heath sector under the Provincial Councils which is additional to the allocations made to the Ministry,” Prime Minister Wickremesinghe said. “A massive amount of money is allocated for the health sector under the finance head of the Higher Education Ministry as well.
Three medical faculties are being constructed with the allocation made to the Higher Education Ministry attached to the North-Western University, Sabaragamuwa University and the Moratuwa University.
Kuliyapitiya, Ratnapura and Panadura Hospitals would be Teaching Hospitals.
(Source: Daily News – By Sandasen Marasinghe)
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Thank you for your boring lectures.
What we require is action and tangible outcomes and not empty words.
GR is knocking on the door through Viyath Maga telling us that he is the outstanding alternative to the miserable alternatives we are presently saddled with.
Ranil, you are a ‘miserable alternative we are saddled with’.
RW, quickly move on corruption of the past at the same speed as moving ahead with the economy.
Otherwise, you will again be that miserable all-time loser.
If what youre saying is true, why wont you arrest the culprits. Are you also in the same boat.
Still read the same OLD story.
People elected your government to eradicate and normalize the situation.
But still after 4 years same story reads again and again.
If this government act wisely the infra made by previous regime should have used as money generators.
But instead, Mattala became Paddy storage, but now in use.
Hambantota became dead port, but sold out and now earning.
Port City used as propaganda, but now its getting ready. Those are few examples only.
If current government put up plans to earn cash from those areas, by now should have earn some and eased on loans.
Now when you borrow more loans, IMF money etc, the next team also will have the same situation.
Instead put a plan and make sure your govt do something to ease up.
Bond scam is nowhere in the picture now.
Who pays for those? New Tax? Price Hikes…finally same people who voted.
When you have failed, best thing is to step down. And be an example for the whole country.
Don’t bite back and hang on it till the entire nation falls.
Rajapakse Bashing has become common medicine Yaha Palanaya government. It is like Sidhalepa or Tiger Balm. People appointed YP government in 2015 January. To-date Mhinda bashing going on. Will all these progress PM taking about SL Rupee is devaluing against USD. Before the end of this year it will reach the magic figure of 200? We know President took a team of 125 for Common Wealth. PM said to have made 64 Heli trips to Deniyaya in last two years, we also heard allegation about 57 Lakhs Toiled upgrade in Colombo mayor’s house, we also know importing of luxury vehicles to PM, Prez and for the jumbo cabinet. Fuel prices gone up having an negative impact on food prices. Blaming Rajapakse for inefficiency of YP doesn’t work anymore. It is counter productive now. YP has to close shop and go home or better to find another solution.
Really? That is why you wanted to take the reigns of power few years ago, wasn’t it? Either do the job or accept you cannot make even what Rajapaksha did.
Where is the central bank thief these days?
Fellow Bloggers in Onlanka,
The Tamil speaking citizens of this country strongly desire the return of the Rajapaksa family as rulers.
In 2005, the Tamil speaking voters of the land ensured a Rajapaksa victory. This resulted in the genocidal elimination of LTT and significant Tamil population which has thrown our country into the ‘shit basket’ by the international community.
However much the Sinhala Rulers hoodwink the international community (by co-sponsoring a US lead resolution etc), the issues accountability and war crimes will not go away.
The next coming of the Rajapaksa family will result in the UN supervised referendum on self determination of Tamil Homelands.
My Mr. T. Somasunderam, Thank you so much for your kind words. I am delighted!! Hope UN will monitor the referendum in Israel giving a separate homeland and country for Palestinians first. Subsequently, UN will supervise and ensure a Separate homeland for Tamils in Tamil Nadu India. By the way, UN has to please the Muslim first allowing Tamils to do so. By that time Sri Lanka will have leaders with a backbone.
Hi Mr Amarakoon,
Thank you for being a ‘brother in arms’.
Israel is a godchild of the US.
The Tamil Homeland has the most valuable natural harbour in Trincomalee.
The US wouldn’t like it to be sold to the Chinks like what your leaders did with Hambantota.
Thanks very much for admitting the Sinhala Buddhist leaders of SL from 1948 to date have never had any backbone.