Opposition Leader presents 9 proposals to combat economic crisis

COLOMBO (News 1st); Opposition leader Sajith Premadasa today presented 9 proposals in Parliament on how the country will be able to come out of the current economic crisis

The Opposition Leader's points are as follows;

• Preventing debt default which is currently going out of hand by appointing global Legal and Financial Advisors. Going forth with consent solicitation with the parties which Sri Lanka obtained loans, and getting the loan repayment suspended, with the inclusion of both capital and the interest repayment.

• Establishing the independence of the Central Bank by bringing in legislation that will increase the confidence in the central bank. Commending the appointment of the new Governor Nandlal Weerasinghe, the Opposition Leader said it is a move in the right direction.

   

• Obtaining a bilateral and multilateral loan repayment relief period, in addition to obtaining the support of International Financial organizations, and thus building up the foreign reserves of the country.

   

• Obtaining financial assistance in addition to technical assistance from the International Monetary Fund via sustainable management of debt or presenting a mechanism on how Sri Lanka can restructure our debt.

   

• Obtaining Bridge financing both bilateral and multilateral to progress forward as a country, strengthen diplomatic ties, and develop good faith.

   

• A new budget to be presented immediately to provide concessions to poor communities, while public representatives must unconditionally make all sacrifices at this point of time. The people who are capable must contribute to state expenses and the rest of the community must be given concessions.

   

• Obtaining the support of experts and intellectuals in these fields for this program.

   

• The Government to speak to the world food programme, the United Nations Food Agriculture Organization, the World Health Organization and other United Nations bodies with regard to the massive issue that food security.

   

• Temporarily working on suspending this repayment of 1.3 billion US dollars in May.