{"id":57087,"date":"2016-07-28T15:30:01","date_gmt":"2016-07-28T22:30:01","guid":{"rendered":"http:\/\/www.lankaweb.com\/news\/items\/?p=57087"},"modified":"2016-07-28T15:30:01","modified_gmt":"2016-07-28T22:30:01","slug":"sri-lankas-pact-with-imf-faces-flak","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2016\/07\/28\/sri-lankas-pact-with-imf-faces-flak\/","title":{"rendered":"Sri Lanka\u2019s pact with IMF faces flak"},"content":{"rendered":"

T. RAMAKRISHNAN<\/a>\u00a0Courtesy Hindu<\/em><\/span><\/h2>\n
\n

‘Alliance for Economic Democracy’ says despite the “dangers inherent” in the agreement, there has been no critical public\u00a0scrutiny.<\/p>\n<\/div>\n

A recently-formed coalition of trade unions, student unions, progressive intellectuals, social organisations and activists has criticised the\u00a0Sri Lanka\u00a0government for its agreement with the International Monetary Fund (IMF).<\/p>\n

The\u00a0coalition,\u00a0Alliance\u00a0for Economic Democracy, has said\u00a0the IMF’s Extended Fund Facility, providing an assistance of $1.5 billion over three years, comes with a number of conditions that will adversely impact the economic and social life of the people in this country.\u201d \u00a0Despite the dangers inherent\u201d in the agreement, there has been no critical public\u00a0scrutiny of the arrangement.<\/p>\n

\u2018It is a BoP crisis\u2019<\/b><\/p>\n

\u00a0Arguing that the current economic crisis facing Sri Lanka is mainly a balance of payment crisis due to the flight of capital, falling exports and rising imports,\u201d the Alliance has attributed it to capital market liberalisation, which, according to the coalition, has made Sri Lanka susceptible to capital flight, and mega development projects funded by borrowings of\u00a0successive governments.<\/div>\n

Criticising the government for seeking to shift the burden and responsibility for the crisis onto the people, the coalition has contended that the new agreement and the related neoliberal economic policies will further burden\u201d the people in future.<\/p>\n

The\u00a0Alliance\u00a0has demanded that the 2017 Budget, (likely to be presented in November) consider the people\u2019s demands and not be reduced to the IMF conditions. \u00a0 It has drawn up plans to mobilise public opinion against the\u00a0agreement.<\/p>\n

http:\/\/www.thehindu.com\/news\/international\/sri-lankas-pact-with-imf-faces-flak\/article8906443.ece<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

T. RAMAKRISHNAN\u00a0Courtesy Hindu ‘Alliance for Economic Democracy’ says despite the “dangers inherent” in the agreement, there has been no critical public\u00a0scrutiny. A recently-formed coalition of trade unions, student unions, progressive intellectuals, social organisations and activists has criticised the\u00a0Sri Lanka\u00a0government for its agreement with the International Monetary Fund (IMF). The\u00a0coalition,\u00a0Alliance\u00a0for Economic Democracy, has said\u00a0the IMF’s Extended […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102],"tags":[],"class_list":["post-57087","post","type-post","status-publish","format-standard","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/57087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=57087"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/57087\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=57087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=57087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=57087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}