Opposition Leader Sajith Premadasa has called on the government to take immediate steps to secure a fresh agreement with the International Monetary Fund (IMF) to safeguard the wellbeing of the public.
In a message posted on X, Premadasa said Bangladesh was also seeking a more realistic IMF arrangement aimed at easing the burden on citizens amid current global economic conditions, and argued that Sri Lanka must similarly prioritise public welfare in its economic policy decisions.
He warned that economic policymaking should not become a delayed process in which action is taken only after shortages worsen, prices rise further and households face greater hardship. The responsibility of leadership, he said, is to prevent suffering before it becomes unmanageable, urging the government to act while there is still room to avoid deeper economic distress.
The intervention came on a day of mounting economic pressure, with the Central Bank raising its policy rate by 100 basis points to 8.75% — its first hike in 12 months to curb demand-driven inflation, and Governor Nandalal Weerasinghe defending the programme’s stance on fuel subsidies and reserve targets at a press conference. The remarks also land a day before the IMF Executive Board is due to take up Sri Lanka’s combined fifth and sixth review on May 27.
Premadasa’s call for a “fresh” deal echoes a growing debate over a possible successor IMF programme once the current four-year facility runs its course, with critics arguing the existing terms leave too little room to cushion households from the rupee’s slide and rising prices.
