SJB National Organiser predicts doom

By Anuradha Hiripitiyage

The government had no plan to face the coming economic crisis created by the downgrading of Sri Lanka by Fitch rating agency to Default Rating (DR) ‘CCC’ from ‘B’, SJB National Organizer, MP Tissa Attanayake said yesterday.

This downgrading was indicative of the increasing difficulties the country would face in external-debt repayment in the medium term, he said.

“Fitch rating agency says this is due to a sharp rise in the ‘sovereign debt to GDP ratio associated with the coronavirus shock and narrowing financing options have heightened debt sustainability risks.”

However, the government has no plan to promote economic development or the well being of the people.

“Anyone could see this coming but the budget was presented without thinking about this. 2021 is a crucial year and everyone should work together to overcome this challenge. If the government is genuine, it can rally everyone around it, but we know that it is only thinking of scoring political points. So, it is unrealistic for the government to expect anyone else’s support.”