Posted on October 14th, 2018

By Udaya P Gammanpila Courtesy Ceylon Today

The JO urges the Government to resign and hand over the Government to them. However, both supporters and opponents of the JO question Mahinda Rajapaksa’s capacity to solve economical, political and social crisis faced by Sri Lanka. Hence, let us examine Mahinda’s true capacity to govern this nation and to restore its fading glory.

Usually people judge politicians by listening to them. A classic example is President Maithripala Sirisena. Being a classic orator, he was deceived the nation with his oratory.

Being mesmerized with his speeches, the public believed that he would bring in good governance. Unfortunately, he did not practice what he preached. As a time-tested politician, Mahinda can be judged by his performance as head of State. He led this nation out of darkness in its worst phase of history.

During his presidency, the world was engulfed in several crises. In 2008, crude oil prices reached an unprecedented peak by recording $161 for a barrel. It is extremely high compared to the average price of $43 per barrel in 2016. The same year, the US financial system collapsed declaring several banks and other financial institutions bankrupt.

Consequently, financial systems in most parts of the world collapsed. The situation turned worse because of food scarcity triggered by droughts and floods. These factors collectively triggered a global economic crisis.

Negative growth

In this backdrop, the global economy recorded a negative growth in 2009 for the first time in post-world war history. Giant economies such as the US, UK, France, Germany and Japan had negative growth.

Asian model economies such as Singapore, Hong Kong, Taiwan and South Korea failed to avoid the global trend. A few nations recorded positive economic growths. Sri Lanka was among these few.

Difficult year

2009 was a difficult year for Sri Lanka. In addition to the economic crises, there was a huge domestic crisis in Sri Lanka. The war against the LTTE was at its peak after capturing its pseudo capital, Kilinochchi by government forces. When the forces defeated the LTTE in May concluding a 37-year-old war, it had to cope with hundreds of thousands of refugees flooding from the war zone.

In addition there were 12,000 terrorists under government care who either surrendered or were captured. Despite these challenges, Sri Lanka recorded a remarkable growth of 3.5% in 2009.

Although the US recorded negative growth in 2009, in contrast, Apple Company recorded massive profits. When its CEO, Steve Jobs was questioned about the company’s astonishing achievement, he aptly said, Leaders must go against the tide”.

Former President Rajapaksa is a leader of Steve Jobs’ calibre.

Per capita income

Despite these challenges, he increased per capita income three fold in nine years setting a new Sri Lankan record. The debt burden was brought down to 71% to from 102%. Poverty was reduced to 6.2% from 16.6%.

Inflation, interest rate and unemployment were brought down and maintained at single digit level. The Sri Lankan share market became the best emerging market in the world.

All international indices showed a positive outlook of Sri Lanka. Fund managers and corporate giants were bullish about Sri Lanka. Brain drain was halted, and its reverse began to take place. That was Sri Lanka when it was handed over to the present government to implement much-talked good governance.

Rajapaksa’s rule marked the most stable period in history and he becoming Prime Minister would boost the confidence of investors and they would stop withdrawing their investments in Sri Lanka. Those who have withdrawn will be back with confidence.

This Government brought Sino-Lanka relations to the bottom. In March 2015, the Sirisena-Ranil Government unilaterally stopped the Port City Project for which the foundation stone was laid by the Chinese President and caused irreparable damage to the Chinese global image as the largest investor in the world.

Secondly, it levelled serious allegations against China claiming it had tactfully placed Sri Lanka in a debt trap with ulterior motives. Thirdly, it accused China of granting loans with excessively high interest rates.

It further alleged that China has generously bribed Sri Lankan politicians and bureaucrats. Chinese Ambassadors and Foreign Ministry Spokespersons had to frequently respond to these allegations.

When Mahinda is in power, China will recommence investing in Sri Lanka restoring its millennia-long friendship.


  1. Dilrook Says:

    Crude oil price was $59 a barrel in December 2014 (even lower by the start of January 2015). At the end of September it was $75.

    The hedging deal costed Sri Lanka a massive loss.

  2. ranjit Says:

    Mahinda has already shown to Sri Lankans and the world how to govern and bring peace and prosperity to all people. His mistake was he kept on trusting unwanted people around him and I don’t think this time around he will do the same mistakes if he was given another chance to govern again. He is a sincere person not like Sira or Ranil the two good for nothing jokers. Mahinda do not take any decisions to harm our Motherland or it’s citizens. He don’t tell fairytale stories and hoodwinks the people to get votes. He is a straight forward leader who loves people. If Mahinda cannot come forward for the presidential election as a candidate one way or the other due to some reason he should appoint Gota and nobody else as we all trust this war hero who has done a good job in the past. Nobody should question Mahinda if he take that decision. We need to have unity in the party Pohottuwa at this hour to fight our enemies strongly. Mahinda should not trust his old buddies who left him and insulted him in public. He should depend and trust the youngers in the party more than those traitors. He should give good positions to his coalition partners because they were with him in good times as well as bad times. Instead of deals with our enemies and traitors Mahinda must plan and organise now itself from the bottom to face the coming elections. We need to send this yamapalakayo to hell and beyond for making us beggars.

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