Sajith Premadasa expressed concern that despite the President having been elected and initially holding two rounds of talks with the IMF, the commitments made during the presidential campaign have yet to be fulfilled through IMF agreements.
Presidential candidate Anura Kumara Dissanayake also highlighted that, although the government pledged to exit the debt stabilization agreement with the IMF, reduce VAT, and lower direct and indirect taxes, these promises have not been realized due to lack of IMF support, according to Premadasa.
Speaking at a public meeting in Athurugiriya, organized under the patronage of Ms. Hirunika Premachandra, the Samagi Jana Balawegaya leader stated that with the economy in crisis, the burden of debt repayment, scheduled to resume in 2028, poses significant challenges. While the IMF had initially proposed repayment starting in 2033, Premadasa noted that the former president opted to commence payments in 2028. He stressed that this situation demands robust economic growth and substantial foreign reserves to meet these obligations.
Premadasa called for a renegotiation of the IMF agreement, including an extension of the repayment timeline, and emphasized that this can only be achieved with a government led by capable individuals with a clear economic vision and the backing of a parliamentary majority—hence the need for a Samagi Jana Balawegaya government.
He further pointed out the severe challenges facing the tourism industry, warning that if the current trajectory continues, critical sectors will suffer, leading to a depletion of foreign exchange. To address this, Premadasa urged the country to strengthen diplomatic relations and adopt a cohesive approach to economic recovery.
