A special incident that was not reported by any media took place inside Parliament last week, amid a series of events triggered by the no-confidence motion brought by Kumara Jayakody.
This incident involved officials from the International Monetary Fund (IMF) visiting Parliament and holding a special discussion with opposition party leaders.
In the past, it had been customary for IMF representatives visiting Sri Lanka to first meet with government representatives and then hold discussions with the opposition. However, after the Malima government came to power and several months had passed, this pattern appeared to have changed. Although IMF officials met with government authorities during their visits, they had been leaving the country without holding any discussions with the opposition.
Following repeated complaints from the opposition regarding this matter, IMF officials, during their most recent visit, took steps to hold a discussion with opposition party leaders in Parliament. This was done in response to a request made by opposition leaders through the Speaker’s office.
Accordingly, the discussion held in Parliament recently turned out to be a highly heated one.
The main reason for this was the continuous questioning by former Finance Minister Ravi Karunanayake regarding the current situation. At the very beginning of the discussion, Ravi expressed his strong dissatisfaction to IMF officials over a statement made by IMF Managing Director Kristalina Georgieva during her visit to Sri Lanka.
“When the IMF Managing Director left Sri Lanka, she issued a statement expressing satisfaction with the government’s economic program. She appeared to favor the government, stating that it is managing the economy well and that economic growth is positive. However, she did not mention former President Ranil Wickremesinghe at all. I believe that is inappropriate. We are deeply disappointed about that. It was Ranil Wickremesinghe who engaged with the IMF after the country went bankrupt and implemented economic reforms to stabilize the economy. At the very least, she should have thanked him. The current government is simply continuing the same policies he introduced without any changes. Therefore, making a statement that favors the government is wrong,” Ravi stated.
He did not stop there and continued to question the IMF’s current program.
“We also have concerns about the program currently being implemented by the IMF. Generally, the IMF’s policy should be to help a country avoid falling deeper into a debt trap by reducing borrowing and improving the economy. However, what we see now is that the IMF is guiding Sri Lanka toward further borrowing. At the very least, the IMF’s failure to intervene in this is a serious issue,” Ravi said, while also providing examples.
As Ravi explained his position in simple English that IMF representatives could clearly understand, the IMF officials appeared surprised and listened attentively. He then went on to question the IMF’s current policies further.
“Usually, the IMF engages with a country based on agreed conditions. But the question is whether that is happening in Sri Lanka now. Typically, a country working with the IMF must follow transparent and corruption-free economic policies and operate on sound economic principles. However, we are seeing corruption within this government and a lack of transparency in certain activities. Yet, we do not see the IMF questioning these transactions. What alternative measures has the IMF taken in response to these issues?” Ravi asked, while IMF officials remained silent.
While Ravi continued his questioning, MP Archuna Ramanathan also joined the discussion. He took the opportunity to inform IMF officials about several corruption allegations against the government.
“In recent times, several serious allegations have been raised against the government. The first was the release of 323 containers from the port without any inspection. Did you question that? Where are the reports? The latest issue is the coal fraud. We have not seen the IMF questioning the government about this either. However, your policy is that countries should be free from corruption,” Archuna stated.
With this, it appeared that the effort initiated by Ravi had gained momentum.
As the meeting concluded and opposition leaders were leaving, an IMF representative approached Ravi, shook his hand, and made a special remark:
“I am surprised by the points you raised. Your questioning was of a very high standard. The issues you presented are extremely important to us. No one has questioned us in this manner before. We are grateful to you for that. We would also like to have further private discussions with you on this matter,” the IMF representative said.
Ravi responded that he is ready for such discussions at any time.
The results of Ravi’s questioning became evident within a few days through a report published in The Island newspaper last week. According to that report, quoting an IMF representative, the IMF is closely monitoring whether the government is fulfilling the conditions set by the Fund. It further stated that continued IMF support will depend on the fulfillment of those conditions.
Accordingly, it appeared that the effort initiated by Ravi had achieved a significant outcome.
