Rights allegations will impact IMF talks: SJB

Rights allegations will impact IMF talks: SJB

Rights allegations will impact IMF talks: SJB

Written by Amani Nilar

24 Aug, 2022 | 6:42 pm

COLOMBO (News 1st); The Economic Policy Centre of the Samagi Jana Balavegaya warned that Human Rights allegations will have an impact on the discussions taking place with the International Monetary Fund.

Citing the CBSL Governor Dr. Nandalal Weerasinghe's statement with regard to Sri Lanka has not initiated negotiations with creditors as of yet, Samagi Jana Balavegaya MP Dr. Harsha De Silva recalled that the Governor said, that creditor negotiations will start once a staff level agreement with the IMF is reached. 

Dr de Silva said that this poses a problematic situation, as the Government needs to present a program with regard to managing debt in order for the staff level agreement to be finalized.

The MP said that since April 12th, Sri Lanka has stopped the repayment of all loans except for multilateral institutions, such as the World Bank, the Asian Development Bank, and the International Monetary Fund

"The fact that no negotiations have been initiated yet to restructure that debt is somewhat alarming," MP de Silva said.

He further emphasized that debt restructuring and creditor negotiations cannot be carried out like dictators, and is not something that can be done with the use of emergency law. The SJB MP cautioned that if the process is forcefully carried out, it would only cause more social unrest, leading to a disaster.

This week is very important for our economic recovery. We hope that they will be successful because if they fail, all of us and all the people of this country will continue to face the difficult reality, the MP added.

Meanwhile, SJB MP Kabir Hashim, speaking on the arrival of the IMF delegation to Sri Lanka would affect the country, said that major countries such as India, Russia, and the USA are the major stakeholders of the International Monetary Fund. 

Therefore, MP Hashim pointed out that the above countries can influence the IMF with regard to incidents of violation of human rights within Sri Lanka, and can make a request to delay the program unless reforms are implemented.

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