It’s UNP who danced to IMF tune - Minister

Shirley WIJESINGHE

The conditions imposed by the International Monetary Fund (IMF) and World Bank (WB) over the Sri Lankan economy were obediently carried out by United National Party when they came to power in 2002. The present Government does not adhere to such conditions. We are totally different and do not hesitate to stand on non-privatization policy of the state institutions, Mass Media and Communication Minister Keheliya Rambukwella said.

The UNP had given into conditions set by the IMF in privatizing the Sri Lanka Insurance Corporation and planing to privatize the state banks and large number of other state establishments, Minister Rambukwella added.

He was addressing the media in responce to Opposition criticism on the budget claiming that it has been prepared under the hammer of the IMF and after funding agencies.

Minister Rambukwella said the IMF, World Bank and ADB are not our enemies and the Government is prepared to take financial assistance as long as their conditions are not against our own economic structure. Rambukwella said that he was surprised at the way the Opposition was repeating the same slogan even by senior members.

They really want to tarnish the economic development image gained by the Government.

He added that Sri Lanka’s per capita income has increased considerably during the last five years. The economic growth rate had reached 7.1 percent during the last quarter.

The unemployment rate has come down to five percent. The rate of inflation has been limited to one digit. The Government was able to maintain foreign currency reserves of US $6.2 billion.

Explaining the main objective of the budget, Minister Rambukwella said the budget mainly focused to strengthen the economic policy through long-term plans. It is also to streamline the present economic fundamental and form a good foundation to face the country’s development challenges from 2011, the Minister said. He also denied Opposition claims that the budget focused only on the expenditure of next four months and did not have any new proposals.