President Ranil Wickremesinghe has unveiled ambitious plans to finalize the debt restructuring process by September as part of a determined push to address Sri Lanka’s debt crisis and promote national reconciliation. Collaborating closely with Parliament, the President aims to develop a comprehensive strategy that will effectively resolve the nation’s financial burdens.
During his participation in the 40th anniversary event of the International Democrat Union (IDU) in London, President Wickremesinghe joined discussions with former Canadian Prime Minister and Chairman of the IDU, Stephen Harper. He emphasized the circumstances that led to his presidency and highlighted Sri Lanka’s journey towards economic recovery.
While debt restructuring remains a key priority, President Wickremesinghe stressed the importance of completing vital structural reforms. His primary focus lies in accelerating economic liberalization and attracting increased investments, with the aim of bolstering Sri Lanka’s financial prospects and driving a more favorable balance of trade in the long run.
Addressing concerns about the timeline for the process, the President expressed confidence in achieving substantial progress by 2024. He builds on the previous initiatives undertaken during his tenure as Prime Minister and actively engages with members of Parliament representing Tamil areas. Notably, agreements have been reached on crucial issues, including the establishment of a truth and reconciliation commission, the drafting of legislation, and the presentation of a new anti-terrorist law to Parliament. Disputes between the government and the opposition, including the definition of terrorism, have been resolved through a court ruling.
President Wickremesinghe highlighted efforts to address land-related concerns in the North and East regions, with significant progress being made in resolving these disputes. The Missing Persons Office has taken steps toward utilization, and potential solutions have been shared with Tamil parties. The President anticipates presenting a comprehensive process by the end of July, acknowledging the necessary legislative procedures that need to be followed.
