Economics

President Urges Adherence to IMF Agreements and Support for Economic Transformation Bill

President Ranil Wickremesinghe, speaking at the Wandala Sri Visuddaramaya in Karawanella, stressed the critical importance of adhering to International Monetary Fund (IMF) agreements to secure the country’s economic stability. He emphasized the need for unity and support for the proposed Economic Transformation Bill during a recent event, warning that breaching these agreements would jeopardize Sri Lanka’s progress.

The President highlighted the government’s accomplishments, attributing the positive results to fearless decision-making in the face of challenges. He urged the opposition to refrain from making baseless statements about the economy and to instead collaborate within the existing framework.

During the “Urumaya” freehold deeds and rice distribution programme, President Wickremesinghe distributed 350 freehold deeds in the Kegalle district and provided 800 low-income families with 10 kilograms of rice each in the second phase of the rice distribution programme.

The President underscored the significance of the “Urumaya” deed as a symbol of citizens’ rights, affirming the government’s commitment to granting land rights to the people. He highlighted the inclusivity of the government, comprising representatives from various parties, and called for collective responsibility in advancing the country’s progress.

President Wickremesinghe outlined the government’s economic objectives, including achieving a 5% growth by 2027, reducing unemployment to 5% by 2025, and extreme poverty to 25% by 2027. He emphasized the importance of the IMF agreements in revitalizing the economy and restructuring foreign debts.

Notable figures such as Sabaragamuwa Province Governor Navin Dissanayake, Finance State Minister Ranjith Siyambalapitiya, Foreign Affairs State Minister Tharaka Balasuriya, and Technology State Minister Kanaka Herath praised the President’s initiatives and highlighted the potential economic benefits of the “Urumaya” programme.

The event was attended by MPs Rajika Wickramasinghe, Udayakantha Gunathilaka, Sudath Manjula, Presidential Senior Adviser on Economic Affairs Dr. R.H.S. Samaratunga, and numerous guests.

President Wickremesinghe’s remarks underscored the government’s commitment to economic progress and urged collective action to overcome challenges and achieve sustainable development in Sri Lanka.