Ex President Ranil Urges U.S. to Uphold IMF Pact and Aid Debt Deal
- CNL Reporter
- July 18, 2025
- Political
- Ranil
- 0 Comments
Former President Ranil Wickremesinghe has called on the United States to honor its commitment to Sri Lanka’s debt restructuring process, stressing its role as a member of the Official Creditor Committee (OCC) and a signatory to the IMF’s Extended Fund Facility (EFF). “They must help us now. Otherwise, they are in breach of the agreement,” he stated, accusing the U.S. of obstructing the repayment process to Sri Lanka’s bondholders.
Wickremesinghe urged the government to take a tougher stance, suggesting that both the IMF and bondholders should press the U.S. for its financial obligations. He criticized Sri Lanka’s passive approach in trade, saying, “Why are we just going and saying, ‘We’ll buy Coca-Cola or gas from you’? You are in breach of this.”
Highlighting lost opportunities, he compared Sri Lanka’s stagnant progress to the rapid development of countries like Vietnam, Cambodia, and Bangladesh. He also blamed a 30% tariff imposed during Donald Trump’s presidency for crippling Sri Lankan exports to the U.S., stating, “You can’t survive with 30%.”
Describing the current global economic environment as one of “bullying and disruption,” Wickremesinghe warned that long-standing trade agreements are being replaced with informal arrangements, creating instability and uncertainty worldwide.
