http://www.ft.lk/columns/Cabraalnom...ave-enough-forex-inflows-to-pay-ISBs/4-713907
Nation should be ready to take a hit
Sri Lanka’s external debt problem is not a problem of State Minister Cabraal alone. It is a problem faced by the whole nation. Also, all the governments since independence except the one in power in 1954 and 1955 had contributed to it in a small or big way. No point in castigating them now. What should be done today is to find a quick solution for the problem without defaulting the obligations. It requires the whole country to take a hit. The hit comes in the form of making available the necessary foreign exchange for debt repayment by cutting the domestic consumption. We are heading toward that position fast and the present problem is how to manage it without causing social, economic, and political disorder in the system.
Nation should be ready to take a hit
Sri Lanka’s external debt problem is not a problem of State Minister Cabraal alone. It is a problem faced by the whole nation. Also, all the governments since independence except the one in power in 1954 and 1955 had contributed to it in a small or big way. No point in castigating them now. What should be done today is to find a quick solution for the problem without defaulting the obligations. It requires the whole country to take a hit. The hit comes in the form of making available the necessary foreign exchange for debt repayment by cutting the domestic consumption. We are heading toward that position fast and the present problem is how to manage it without causing social, economic, and political disorder in the system.
