Thursday, February 22, 2024

End of bankruptcy within sight – President

by malinga
November 26, 2023 1:10 am 0 comment 1.7K views

President Ranil Wickremesinghe yesterday expressed optimism that the country could shed its bankrupt status by the end of the year as a result of an expedited economic recovery program.

“With these on-going efforts, it is anticipated that by the year’s end, the nation will no longer bear the burden of the bankruptcy label. Active negotiations are under way with the International Monetary Fund (IMF) and other nations for this to become a reality,” President Wickremesinghe told political representatives in Matale.

“The comprehensive initiatives undertaken thus far have spanned 16 months. Had the Opposition extended its support, this endeavour could have been expedited by an additional two to three months,” the President told the gathering.

The President expressed concern that the Opposition seems to be primarily self-oriented. He said that the most effective route for them to attain power is through collaboration with the Government. By actively participating and leveraging the experience gained from such collaboration, the Opposition can strive to attain power in the upcoming election, contributing to the overall progress of the nation.

President Wickremesinghe said that in the absence of any immediate volunteers to steer the country, he assumed responsibility at the request of the ruling party. The President recalled the unwavering support extended to him by all political parties across the nation.

He said that under his leadership, the nation successfully navigated towards the correct course, achieving economic stability. Despite uncertainty from Opposition politicians who asserted a prolonged recovery period of five years, the country was effectively rescued from the brink of the economic crisis within a remarkably brief span of 16 months.

President Wickremesinghe said: “In 2021, our nation encountered an economic problem, and by 2022, it had evolved into a full-blown crisis. During this period, all facets of the country came to a standstill, resulting in financial losses and diminished income. Simultaneously, developmental projects ground to a halt, compounded by the fact that being a financially bankrupt nation, we lost foreign aid.

During that challenging period, nobody stepped forward to shoulder the responsibility for the country. In response, I willingly assumed that responsibility, consciously distancing myself from those who merely claimed to possess solutions for the nation’s issues. Collaboration with groups across the political spectrum, irrespective of affiliations, played a pivotal role in navigating this endeavour. Our journey has been marked by challenges, yet we have achieved significant milestones. Commencing next year, we will successfully provide an allowance of Rs. 10,000 for Government employees, a feat that many deemed doubtful. Similar to the enhancement in Samurdhi benefits, the Aswesuma allowance has recorded a threefold increase. These initiatives were undertaken to provide support for the advancement of small and medium-scale projects.

However, my commitment to alleviating the hardships faced by the people extends beyond monetary support. Recognising the country’s agricultural sector as a cornerstone, a substantial modernisation program has been conceived. The inaugural phase of this modernisation initiative centres on providing ownership, with plans to commence the distribution of free deeds to those holding permits under the Land Ordinance Act in February. I have directed the coordination of these activities to the District Development Committees, seeking the collective support of all for the success of this initiative.

Our paramount responsibility is to forge a promising future for the youth of our nation, crafting a legacy not for our immediate gratification but for the prosperity of generations to come. Our collective mission is to construct a nation that stands as a testament to our commitment to the well-being of our children and their children. Let us transcend all political divides and work collectively to advance the nation. Together, we can move forward, building a stronger and more prosperous country for all.”

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