Minister Bimal Ratnayake has raised doubts about the effectiveness of International Monetary Fund (IMF) programmes globally, stating that Sri Lanka is among a vast majority of countries that have struggled to achieve success under IMF guidance.
However, he claimed that Sri Lanka stands out as one of the few nations correctly adhering to the programme’s conditions.
Speaking at a National People’s Power (NPP) local government election meeting, Ratnayake noted that Sri Lanka is the 94th country to enter into agreements with the IMF over the last three decades. Of those, he said, 92 have failed to achieve meaningful success.
“Almost no countries have actually followed the IMF programmes and emerged from the woods,” Ratnayake remarked, expressing skepticism about the global institution’s track record.
Despite this, he emphasized that Sri Lanka is taking a different path by properly implementing the agreed reforms.
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