The next six months would be difficult, and it will be a time we have not seen before, said President Ranil Wickremesinghe, addressing a gathering at the BMICH after the Advocata Institute of research handed over a research publication to the President.
Well, the way out is through agreements we would have with the IMF. The staff level agreements
I don’t think there is another way out or alternative measures.
We have IMF minus Stanley Fisher. Whether it is a good or a bad thing is up to each one of you to decide. Stanley Fisher was the first Deputy Managing Director of the International Monetary Fund and was later appointed as vice chair of the Federal Reserve Bank
Any alternative measures have not worked. Whether we like it or not
we, have to deal with the IMF.
First and foremost, we have to come to a staff-level agreement with the IMF. This is an issue the whole Parliament has to consider. If any MP says we are not for it, then we have to ask him what is your solution, and what is your alternative. All parties must abide by this agreement. When we are negotiating with the IMF the biggest issue we have to face is when the government changes, its policies change. Are we prepared to abide by this if not the entire Parliament has to face the consequences. Any medicine for recovery is bitter. it is going to be difficult you may have to take injections, the first six months will be difficult. I won’t say no It will be a period we have not seen before. We can’t go back to the old system we have to think anew we can’t go back to the old system and be stuck with it again we did not keep pace with globalisation and new trends that emerged. There is no point in going back to the old system. Think anew.
