Opposition reiterates calls for IMF deal to be tabled in Parliament

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By Editor_1
Opposition and SJB leader Sajith Premadasa addressing Parliament – economynext.com/File

COLOMBO – Sri Lanka’s main opposition the Samagi Jana Balawegaya (SJB) on Tuesday (6) reiterated its calls for the country’s agreement with the International Monetary Fund (IMF) to be tabled in Parliament.

Opposition and SJB leader Sajith Premadasa told Parliament on Tuesday, given that Parliament has authority on public finance, the recently announced staff level agreement with the IMF should be tabled in Parliament.

SJB MP and Chairman of the parliamentary Committee on Public Finance,  Harsha de Silva,  echoing Premadasa’s call said if the government needs the opposition’s support in seeing IMF-recommended economic reforms through, the Parliament must be made aware of the contents of the agreement.

However, Central Bank Governor Nandalal Weerasinghe said on Monday (5) that Sri Lanka had no practice of revealing IMF programs to Parliament early and tax changes can only be revealed to Parliament at the time of implementation.

Sri Lanka has had 16 IMF programs in the past after balance of payments trouble was triggered by Sri Lanka’s intermediate regime central bank, which prints money to suppress market interest rates leading to forex shortages.

Sri Lanka’s finance minister usually signs a memorandum of economic policies with the IMF as part of a program, Governor Weerasinghe said.

“At that stage it has never been tabled in the Parliament to my knowledge and has not even been submitted to the cabinet,” he said in a talk show hosted by Sri a privately owned television channel.

Leader of the House and Education Minister Susil Premajayantha said President and Finance Minister Ranil Wickremesinghe will keep legislators informed on the staff level agreement as promised.

-economynext.com

 

Editor_1
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