Harsha Speaks Out: Small Man’s Welfare Neglected, International Creditors to Receive Major Relief; Pledges Recovery Under President Sajith! [VIDEO] – Sri Lanka Latest News

Mr. Harsha De Silva said that the government which attacked the employees’ provident fund during the restructuring of the debt has planned to give a big relief to the foreign creditors. Sri Lanka Latest News

Dr. Harsha de Silva further commented, in Parliament, the President mentioned that the country’s economy is turning into a good state and the President also spoke about debt restructuring. But the people of the country are in a tight economic situation. Also, the President states that no work can be done until the debt restructuring is done. The President also says that the debt restructuring processes should be completed soon.

After the international bondholders arrived in Sri Lanka, they met the President, the Samagi Janabalawega team, and the Janata Vimukti Peramuna team. The government and the Janata Vimukthi Peramuna had not expressed any opinion in this regard. The proposals presented by the international bondholders cannot be accepted. The reason is that according to the proposals of the international bondholders, the face value will be cut in 2028. They measure the success of the country’s economy in US dollars. Accordingly, it is decided to cut a part of their face value. According to our calculations, by 2028, by cutting the face value, we get about 7 per cent. The International Monetary Fund had not expressed their opinion in this regard.

The provident Fund took a huge hit during the domestic debt restructuring. The government had not previously announced what the Artha Factor Fund was doing. The government had not expressed any opinion on the restructuring of local debt. The government later stated that all that was done because of the need of the international creditors. So there must be equality here.

No other political party expressed their opinion regarding the 7 per cent cut in face value to international creditors by inconveniencing local creditors. However I would like to mention that Samagi Janabalawega does not agree with this process.

The government has come up with a counter-proposal, which is better than the proposal made by the creditors. It can be seen that through that proposal, the reduction of the face value to less than 7 per cent will not be reduced. But this proposal is complex. There are 64 options in that proposal.

They told us that it is too complicated to travel to such a place. Sinhala media is not talking about this. But it’s a matter to be talked about. People have been informed about this. Bringing pressure to the government. Objections have been submitted. You have to try to escape from the pit you are going to fall into. We believe that there should be a strong negotiation with these parties.

Lazard and Clifford Chance financial and legal advisory companies are with Sri Lanka in debt restructuring. On the other hand, companies called Rockstyle and White and Hair. There is the question of who will lead the debt restructuring. Lazard and Clifford Chance are the organizations chosen to advise Sri Lanka on the debt restructuring process. There is no political leadership for this in Sri Lanka. In this regard, there is no scholarly discussion in the parliament.

Who will raise the voice for the people when they are going to be subjected to a bond until 2028? Only the economic group of the United People’s Force should come forward in this regard. No posting of analytical opinion. After President Ranil Wickremesinghe signed on this matter, everyone will come to the streets. Then protests. Then you can get a political advantage. If you have a headache, join us. Come to the point where what needs to be done with the people should be done with what the people can afford.

He has not received the third instalment of the International Monetary Fund. To receive the third instalment, the people of the Paris Club, Japan and China must agree. Even if an agreement was not signed with the private creditors, there should be an agreement to move in that direction positively. This is nothing. If an agreement is not reached, what will happen to the third instalment of the International Monetary Fund? Will it benefit the country if we go to the point where we want to finish it before the election without fighting and doing what we need to get for the country?

We invite anyone to come to a debate with us regarding international debt restructuring. And we warned before the government went bankrupt. We told them to go to the International Monetary Fund to save the country. In the end, the country was bankrupted and the people were dragged into an abyss.