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Sri Lanka achieved progress in financial restoration as folks backed tough programme: President Wickremesinghe

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Sri Lanka’s President Ranil Wickremesinghe attends the nation’s 76th Independence Day celebrations in Colombo, on February 4, 2024. 
| Photo Credit: Reuters

President Ranil Wickremesinghe on February 4 mentioned Sri Lanka has achieved progress in its financial restoration course of as a result of steadfast assist of residents to a complete long-term nationwide rebuilding programme regardless of dealing with hardships.

Addressing the seventy fifth anniversary of Independence celebrations held in Colombo, Mr. Wickremesinghe mentioned when the nation marked Independence Day final 12 months it was labelled bankrupt.

He mentioned progress had been achieved within the financial restoration bid “owing to the steadfast support of our citizens who endured hardships in keeping with a comprehensive long-term national rebuilding programme”.

“If we go on this street, the difficulties will fade away. The price of residing will change into lighter. The economic system will change into stronger,” Mr. Wickremesinghe pressured.

Sri Lanka in April 2022 declared its first ever sovereign default since gaining independence from Britain in 1948.

The disaster led Mr. Wickremesinghe’s predecessor Gotabaya Rajapaksa out of workplace by way of a marketing campaign of public agitation. Mr. Wickremesinghe stepped in to fill in Rajapaksa’s remaining time period.

Since then, Wickremesinghe has put in place unpopular financial reforms to complement a bailout from the International Monetary Fund (IMF).

Mr. Wickremesinghe has steered the nation out of a interval of shortages of necessities and lengthy hours of energy cuts.

The authorities continues to battle to restructure its exterior debt whereas public dissatisfaction with raised utility charges and taxes has made Mr. Wickremesinghe unpopular.

Nevertheless, he expects to contest the subsequent presidential election due within the final quarter of the 12 months. The Opposition has vowed to oust him, blaming him for crushing democratic dissent and inserting a heavy financial burden on the folks.

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