Sri Lanka is currently going through a serious economic crisis. Protesters pitched tents in front of the President's office. The protesters are blaming the policies of President Gotabaya Rajapaksa's government for the current economic crisis.
President Gotabaya remains in his position. They say that the government has accepted most of the demands of the protesters. However, during this difficult time, President Rajapaksa has distanced himself from the media and has not given any interviews so far.
Question: What role can India play in the current crisis in Sri Lanka?
Answer: I think India can play the biggest role. India has been playing the lead role in Sri Lanka for a long time. India has also played an important role in ending the 30-year-long violent war in Sri Lanka. India is playing an important role in the development of Sri Lanka, especially in the development of the Northern Province.
Not only infrastructure but India has also worked here in the social and cultural fields.
Today we are in crisis, especially in terms of economic conditions. India came first to help. India gave us a line of credit of two billion dollars. One billion dollars have been activated in this.
India is openly and behind the scenes also advocating for the help of Sri Lanka from the IMF, World Bank, and other financial institutions.
Question: Apart from financial help, what other kind of help does Sri Lanka expect from India?
Answer: Whatever way India will help, its ultimate effect will be on our economy, because at this time we need the most financial help. This does not mean that we are asking for the entire rescue package from India.
But India alone cannot help us. IMF and World Bank should also help us. Asian Development Bank, America, China, and Japan should also help us because they are also our allies.
Question: Many people and analysts believe that Sri Lanka is currently stuck in China's loan trap. Do you feel the same way?
Answer: Indeed, we and many developing countries like us are currently in a debt trap. We are trapped in this never-ending vicious cycle of debt. This is the truth. Whether that debt is from China, IMF, or any other partner country.
China accounts for 15% of the total debt in Sri Lanka. 85% of the debt is from other institutions. It should be remembered here that the relationship between Sri Lanka and China is 70 years old. It is a cooperative relationship, he has been with us and we have been with him. China has helped Sri Lanka a lot in the field of culture, society, and education.
There are many agreements between the two countries. The debt you are talking about right now has been given to Sri Lanka through China's infrastructure projects and investments. If I am concerned, we see China as a positive ally and not as a bad ally who is moving to devour us.
Just as India is a friend of Sri Lanka, in the same way China is also a friend of Sri Lanka. Diplomatically, our relationship may be 70-75 years old, but in reality, our relationship goes back to four-five centuries. We have a religious, cultural relationship with China and we have also been connected through the Silk Route.
Question: What is Sri Lanka expecting from China in this time of crisis?
Answer: Our expectations from China are the same as those of India. We import many essential items from China. In such a situation, China's credit line is very important for us. China is the largest bilateral ally in the world. Whether you talk about Asian Development Bank, IMF, or World Bank, China is the largest lender country.
We expect China to continue the work they are doing in Sri Lanka. You can see that many development and infrastructure projects in China are going on here. A lot of work is going on here with the cooperation of China.
We want China to restructure the loan to Sri Lanka and increase the credit line so that we can continue working.
Question: So can we say that at this time Sri Lanka has as much trust in China as it was before, or things have changed in the current situation?
Answer: We have equal faith in everyone. Sri Lanka has never done anything wrong to anyone. We are a small happy country. Investors from all over the world invest in Sri Lanka and we treat everyone equally. There is no discrimination against anyone here.
This is a country where no one is robbed. In such a situation, we do not see any reason why any country should look down on us in comparison to the last one or two years.
Question: People are protesting, demanding the President to step down, how are you watching these demonstrations?
Answer: It is the right of the people to protest peacefully and President Gotabaya Rajapaksa has made it clear that this right of the people will be protected. President Gotabaya has given a logical and so far correct answer to most of the demands of the protesters.
Changes in the cabinet, constitutional reforms, changes in officials, all these demands have been accepted by the President. Demands for going to the IMF and important reforms related to financial institutions have also been accepted.
The President has taken these demands very seriously. When the protesters demanded the formation of a coalition government, the President dissolved his entire cabinet and even invited opposition parties to join the government. However, none came from the opposition. The President has listened to the demands with full positivity.
Question: Does the government have any plan for an immediate solution to the current crisis?
Answer: This is the priority of the government, but there is no solution in a day. We are facing a crisis that was brewing for decades. The government of President Rajapaksa has the responsibility of resolving this crisis. He has formed a new cabinet.
There is a debate going on in the Parliament. The government has used every minute to find a solution to this crisis. The priority of any government is to create conditions in which people can live peacefully and happily.
Question: Trust is a big issue here, the President seems to have lost the trust of the common people. What is the President doing to regain this trust?
Answer: There are two things here. First, obey the demands of the protesters. The President has so far taken every necessary step for this. He has accepted 70% of the demands of the protesters. Now 30% more needs to be done and the President and the Prime Minister are engaged in this work.
The second important thing is communication. The government should establish a dialogue with the public and I am also responsible for this. The government should provide the right information to the people and we are doing so.
This is a war of misinformation. We are fighting this by giving correct, accurate information on time. To win the trust of the people, the President has to stick to his responsibilities.
I agree that he should not leave his post. He is such a leader who was elected by the people as the President of the country in difficult times. No president should step down when the country is in trouble. He should lead the country in this difficult time.
Question: Yesterday there was violence in a demonstration and one person lost his life. What is your government doing to prevent such tragic incidents?
Answer: Right now it is very difficult to stop the demonstrations. As long as the protests are peaceful, there is no problem with them. Today itself the President has appealed to the people to live in peace. We think the biggest thing we can all do together is not to let the demonstrations turn violent.
To stop these protests, we have to ensure the supply of fuel, make gas and electricity accessible to the people and ensure the availability of food items.
Question: Sri Lanka is now going to IMF, why was it delayed so much, Sri Lanka could have done this earlier also?
Answer: Sri Lanka has not gone to IMF this week, we were preparing to go to IMF months back. IMF there is no carnival that you can go there like that.
To go before the IMF, many formalities have to be completed, documents have to be prepared. We wrote to IMF then IMF recommended Sri Lanka take various steps, some of them we have worked on, some are being done. We have made some necessary improvements.
We have gone before the IMF with our work plan, presentation, and documents. So it took us time. Apart from this, there was also one opinion of the Sri Lankan officials that we should go to the IMF only when we have no other option in front of us. We first tried to solve the problem locally.
Question: What is President Rajapaksa doing these days and what is his main agenda?
Answer: His biggest agenda at the moment is stability in Sri Lanka. He also fought and led the war for the country. They work for 15-16 hours a day so that a solution to this crisis can be found.
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