{"id":127463,"date":"2022-07-29T15:37:56","date_gmt":"2022-07-29T22:37:56","guid":{"rendered":"https:\/\/www.lankaweb.com\/news\/items\/?p=127463"},"modified":"2022-07-29T15:37:56","modified_gmt":"2022-07-29T22:37:56","slug":"ways-out-of-our-econmic-meltdown","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2022\/07\/29\/ways-out-of-our-econmic-meltdown\/","title":{"rendered":"Ways Out of our Econmic Meltdown"},"content":{"rendered":"

by Garvin Karunaratne<\/em><\/span><\/h2>\n\n\n

I enclose one of my 2019 Papers which warned our fate which has come though today. It also contains what has to be done to get out of our economic woes. May this awaken our leaders to an immediate process of action. Bindu once said we are all following NATO principles. Lets get down to make everything we imported. My experience in the Divisional Development Councils Programme as well as the Youth Self Employment Programme of Bangladesh which I designed and established in Bangladesh which is a live programme that has brought over three million youths to become productive stares at us in our face. It is up to our leaders to start working on our economy fast. Waiting for the IMF is no solution. The IMF only restructyures the debt($ 56 billion) to ensure that we pay it back. The task of bringing about production falls on us and it can be done- all in Rupees and cents. Not a dollar is required. Before the advent of the IMF in 1978, we did everything in Rupees and cents- built roads, tanks and everything was done in Rupees.<\/p>\n\n\n\n


The Major Constraints for Sri Lanka\u2019s Future: The Proportional Representative System of Election, the Provincial Councils and the 19 th Amendment.<\/strong> <\/p>\n\n\n\n

Posted on July 2nd, 2019<\/p>\n\n\n\n

By Garvin Karunaratne<\/em><\/h2>\n\n\n\n

I write in support of the suggestions made by the former Minister Milinda Moragoda. We have to be thankful to Mr Moragoda for his patriotism.<\/p>\n\n\n\n

Patriotism is what we need today to save our Motherland. It is sad to say that Sri Lanka is today disintegrating fast. Our economy is in tatters with an international debt that cannot be sustained. We are now in a situation where we have to borrow to repay our debts and in that process we become further  indebted. That was  the path laid for us by the IMF from 1978. Our debt of some $ 60 billion was created through imports for our rich, to finance foreign education for the rich, to import limousines for the rich. Foreign investors also take away their profits in dollars increasing our debt.<\/p>\n\n\n\n

\u00a0Today our country does not have a single development programme to enable our people to become productive and emerge out of their poverty. All what we see today\u00a0 in the name of development\u00a0 are election gimmicks to bribe voters at forthcoming elections.<\/p>\n\n\n\n

Full Story<\/p>\n\n\n\n

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The Major Constraints for Sri Lanka\u2019s Future: The Proportional Representative System of Election, the Provincial Councils and the 19 th Amendment.<\/a><\/blockquote>