Transport, Highways and Mass Media Minister Dr. Bandula Gunawardhana yesterday said that the opposition has proved that it cannot govern the country as they lacked knowledge and understanding of the agreements, entered into with international organizations including International Monetary Fund (IMF) and World Bank (WB), he said that the efforts by Parliamentarians Dr. Harsha De Silva and Prof. G. L. Peiris to make the Opposition Leader understand about them had become futile.
“The Opposition Leader should understand that the country cannot be developed without the support of International organizations including the IMF and WB, the Minister said.
He said that the government in power is bound to implement the Extended Fund Facility Agreement of the IMF irrespective of the person in the leadership.
The Minister said that the government has entered into agreements with IMF and World Bank and any government that comes into power should comply with the terms of these agreements.
The Minister was speaking at a meeting held at the Ministry Premises yesterday to discuss on the organization of Colombo International Film Festival which is scheduled to be held this year.
He said that a person who has not done a thorough study of these agreements, cannot run a government in the country. “Such individuals cannot build the country nor can they identify the issues faced by the country”, he said.
The Minister added that Sri Lanka faced unprecedented economic recession in 2022. “The country could not pay back loans obtained from local financial sources and the foreign reserves depleted to zero level. He added that government succeeded in reaching an agreement with the IMF securing US$ 3 billion to Sri Lanka within 48 months.
“The country has already received two tranches of this loan and discussions are going on to secure the third tranche,” he said.
