Sri Lanka has gone before the International Monetary Fund on 16 occasions. However, no fundamental changes have taken place except taking loans, says Ashoka Bandarage, a professor at the University of
California, USA, taking part in the Sithijaya programme broadcast on Sirasa TV ONE channel.
The professor, Who has also served on the boards of Critical Asian Studies, The National Advisory Council on South Asian Affairs, and Interfaith Moral Action on Climate, emphasised that if the current system is not removed, it will not be possible to produce
the needs of our country. Not only economically but also politically, we will have to submit to various conditions of the International Monetary Fund.
Sri Lanka is also painfully feeling the experience of
many countries worldwide. More than this, we should go for a local product that protects the environment. For that purpose, the current extremist profit-seeking should be avoided, and people’s collective should be allowed.
However, the professor emphasised whether the IMF works for ordinary people’s or Western countries’ benefit is currently under serious discussion.