Colombo, Economy, Politics and Governance

Behind the IMF bail-out and the state of the Sri Lankan economy with Harsha de Silva

An interview with eminent economist Harsha de Silva on the context leading up to and the fall out of the International Monetary Fund (IMF) bail-out package and the general state of the Sri Lankan economy.

Harsha de Silva is a development economist by training and has over the last fifteen years worked across the emerging Asia region on development finance, public policy, reform and investment in energy and water, infrastructure regulation, socioeconomic and market research and on information and communication technology [ICT] for development.

  • SL is already bankrupt.. All what is needed is a slight push from the top of the cliff into the destructive valley. Surely, the IMF can do this help for the International Community.

    SL overspent on its military. It went into a wasteful war spree for a problem that could be solved only politically. Now it has to pay all its 300,000 soldiers and buy military ammunitions. There is no money. Coffers are empty. So, the begging bowl was thrown at the IMF.

    The Tamil diaspora has applied in the US courts against granting of this loan by the IMF as this money would spent on Tamil genocide. The chances are that the US will vote against the IMF loan and no money would be forthcoming.

    The best way to get IMF loan would be to ask Britain to send its troops and decolonise the island into two countries as existed during 1815.

  • Saliya

    I feel very sorry about Tamils like Justin. They have been brain washed to believe that there were two separate states in Sri Lanka: one for Tamils in the North and East; which has no evidence. Then they have been brain washed to dream about “Ellam”: the new country that LTTE was going to set up with the support of ignorant day dreamers in the Tamil Diaspora and peace brokers.
    Justin, there is nothing wrong with Ealam, just like nothing wrong with going everybody in this planet to heaven or any blissful plane, but the problem is will they?
    If you are so sure, I think it may be possible to set up that Elam in that blissful plane.

  • 21st Century Fox

    Harsha de Silva is not an impartial economist despite his high academic credentials. He is closely aligned with the UNP and its incompetent leader Ranil Wicks, to whom he gives economic advice. Harsha and Ranil and their ilk (nost of them non-Buddhists) are out to ridicule, undermine and destroy the Sinhala Buddhist glory that Mahinda is trying to restore. If IMF is a means to that great end, why not get them to help? IMF is doling out nothing but historical wealth looted by the west from countries like ours during centuries of colonialism. IMF is an honourable way for the west to redress historical grievances. If we were to sue for damages done by colonials, the claims can be much higher!

  • Akuner

    A good discussion, I mean the interview, not the written comments above.

  • rajivmw

    You call yourself 21st century fox but you belong in those middle ages that you yearn for. For your information, Dr. De Silva is very much a Buddhist. But what would it matter if he wasn’t? He may be a UNP partisan, but I challenge you to point out a single distortion or untruth he uttered in this interview. To the contrary, I agree with Akuner – it was a good and enlightening discussion. You and Justin suffer the same magnitude of delusion. I pray that Sri Lanka and the world will leave you both behind.

  • interesting interview, though i thought that Harsha wasnt on his usual firing form, perhaps the questions hit a litle bit too close to home? like what was said about a hidden vested interest for the IMF.

    The IMF is often accused of being a tool of the developed nations, the biased power structure of both it and the world back are said to prove this. And this talk about adhering to ‘conditions’ before they are imposed is pure hypocrisy isnt it?

  • @21st Century Fox said
    What is the west are you talking about? Because as far I know only a handful of nations were practicing colonialism while many countries are part in IMF including Sri Lanka. If this is doling out historical wealth looted by the west why countries like US, japan, korea, australia, norway, germany and the vast majority are taking part in this? You should seriously do some thinking before parroting Nalin de Silva or people like you are going to do some serious damage to our nation any time soon.

    And your conspiracies against Buddhist glory. Maybe our first lady is also part of the conspiracy team of Ranil, you can check on that.

  • Changed Lanka

    @21st Century Fox

    We now need sri lankans to ask for inclusive policies to promote growth and rebuild our beautiful country. Post-LTTE Sri Lanka does not need people you, and most certainly could do without the garbage you’re spewing out.

    If you have a point, make it, simply engaging in character assassination is in very poor taste.

  • pineapple58

    All these guys will do is sit and talk and discuss and discuss even more about the problems and problems in the government. Why don’t they get off the couch and lend a helping hand, find a solution. Simple as that.