United National Party (UNP) Chairman Wajira Abeywardena has warned that Sri Lanka will face severe economic and political repercussions by December 2025 due to continued delays in executing critical reforms promised to international stakeholders.
Speaking at a press conference held yesterday (11) in Colombo, Abeywardena attributed the growing instability to the government’s failure to uphold commitments made under agreements with the International Monetary Fund (IMF) and other financial institutions.
“By December, the consequences will begin to be felt. The delays are pushing the country toward dangerous territory,” he cautioned.
Anti-corruption law stalled amid political transition
Central to Abeywardena’s concerns is the Anti-Corruption Bill, originally introduced by President Ranil Wickremesinghe as part of a broader effort to restore governance and investor confidence. The legislation falls under the National Anti-Corruption Policy, submitted to Cabinet in July 2024.
The policy, aligned with United Nations conventions and Financial Action Task Force (FATF) guidelines, aims to reclaim assets obtained through illicit means and enhance transparency. However, despite Cabinet approval, implementation has yet to materialize.
“This law was due to be enacted by December 2024, but the previous administration failed to see it through before the transition of power. As a result, crucial IMF disbursements remain on hold,” said Abeywardena.
Ranil initiated ‘Clean Sri Lanka’
Abeywardena rejected claims that the current government initiated the anti-corruption drive, stating that the ‘Clean Sri Lanka’ campaign began under President Wickremesinghe’s leadership.
“This wasn’t born out of recent efforts. It was President Wickremesinghe who led the drafting of the asset recovery laws. The initiative was part of a strategic plan for long-term reform,” he said.
Under Section 1(3) of the Cabinet proposal, a draft framework was developed to tackle corruption in line with global standards.
Political opportunism
The UNP chairman also delivered sharp criticism toward political leaders whom he accused of misleading the public for personal ambition.
“Stop lying to the people just to become Prime Minister, President, or an MP. That kind of politics will only destroy your future,” he said firmly.
He urged all political parties to place national interest above partisan gains.
92 bills introduced since Ranil took office
Since assuming office as the 8th Executive President, President Wickremesinghe has presented 92 bills to Parliament, Abeywardena noted — a volume of legislation unprecedented in recent history.
“These bills aim to stabilize the economy and introduce a long-term policy framework. Yet, opposition parties have failed to engage constructively,” he said.
He added that Wickremesinghe had called for multi-party cooperation and the creation of a national policy consensus through parliamentary committees — many of which included public representatives.
Investor confidence undermined by policy inconsistency
Abeywardena warned that frequent policy shifts between successive governments have undermined Sri Lanka’s global credibility and discouraged foreign investment.
“One government introduces a reform, and the next reverses it. This cycle has shattered investor trust,” he said, referencing regional examples such as Singapore, Malaysia, and India, where consistent national strategies have yielded stability and growth.
Abeywardena also made an appeal for transparency and unity stating, “This year, let us ask one thing of all political parties: stop spreading false narratives to gain power. If we can speak the truth to the public and work together, Sri Lanka has a real chance to recover.”
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