Why not take steps if Govt knew what was going to happen? – Harsha

Why not take steps if Govt knew what was going to happen? – Harsha

Written by Amani Nilar

07 Apr, 2022 | 3:44 pm

COLOMBO (News 1st); This Opposition clearly mentioned previously that it s essential to go to the International Monetary Fund (IMF) and restructure debt, therefore the country ended up in this situation clearly due to the inability of the Government, says SJB MP Harsha de Silva. 

If the debt restructuring was done previously, the country would not have arrived at this situation, MP de Silva stated, addressing MP Ali Sabry, and proceeded to question the former Minister who mentioned that he knew of the economic crisis to come, asking why steps were not taken sooner with regard to it.

Speaking in Parliament, the MP stated that the issue started with tax cuts, as Sri Lanka is the country which has the lowest tax revenue in comparison with the GDP; less than 8%, and the Opposition raised this issue at the Parliament previously. 

He further stated that debt restructuring is essential, and only if the Government had US$ 500Mn previously, Sri Lanka would not be having an issue with importing medicines and food right now. 

MP de Silva also proposed for the appointment of an independent accounting firm internationally to undertake the forensic audits with regard to bond issues. 

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