By Vickramabahu Karunaratne
(March 15, Colombo, Sri Lanka Guardian) The Lankan economy is in crisis and foreign reserves hitting rock bottom is one of the major factors. There are a number of causes which led to this situation. Clearly the world economic crisis is hitting the poorest countries and in spite of the Mahinda Chinthanaya Lanka could not escape. For such countries foreign direct investments are to fall by 20%. The cost of borrowing has risen significantly, and in some cases, maybe unavailable.
Remittances from citizens working abroad are also likely to fall. Commodity exporters will be hit hard, facing both lower export volumes and lower prices. Thus two shocks, trade and finance, will hurt the external finances of the world’s poorest countries and Lanka is one of them. Secondly, the Mahinda regime, following the UNP’s ‘regaining Sri Lanka’ policy, spent billions of borrowed money on mega projects for infrastructure development. While neglecting local interests, money was spent on planning and construction of highways, super airports, massive harbours and tourist resorts in expectation of flow of MNC investments and a massive growth in the tourist industry. But we have gained nothing or very little so far. Lastly and certainly not the least, the so-called patriotic war devoured billions of dollars while destroying anything and everything that could deliver foreign exchange. The only way now that the government can and is planning to raise foreign exchange, is by selling land, minerals, marine resources and water of the Tamil homeland to robber barons from India and the West.
Precarious position
The government was forced to accept that the country’s foreign exchange reserves are in a precarious position. With that the government announced that it was going to accept a massive US$1.9 billion loan from the IMF under their conditions. The question is not whether the government will agree to the stringent conditions that they have to stick to under the present condition created by their own folly. The real question is will the IMF agree and how much will they offer. Apparently the IMF will demand a heavy devaluation. In addition they will expect a severe cut in public expenditure. The latter will affect the so-called patriotic war and will strengthen the demand for a ceasefire.
Pressure for a political solution will increase manifold. In fact the American military unit from the Pacific camp backed by the Indian navy may come to enforce the ceasefire agreement. All this will follow the US$1.9 billon loan agreement. The IMF formulas, especially the structural adjustments, have been the subject of worldwide discussion. Almost all radical intellectuals have condemned these as inhuman bondage. Wimal Weerawansa and others have been barking against the IMF while creating the very condition for servile bondage. These modern Narodniks have ultimately brought the country under the feet of the economic, political and military power of the global capital.
Mahinda’s war of liberation created internally, a very repressive political and military apparatus. He duped the Sinhala masses with war hysteria, cornered every national and religious minority to live in fear, countered trade unions and workers in every possible way into silence, and threatened the media and civil society directly and indirectly. Whenever necessary he used resources and positions to win over to his side critical and oppositional elements. In the end what did he achieve? There is violence everywhere.
Not even our cricket team could go abroad safely. American armies are waiting to come in, of course under the pretext of evacuating trapped civilians under the government’s request. The Indian hand is to be seen everywhere in the country.
The Tamil Tigers with over 50,000 people (or is it 100,000?) are patiently waiting, like the Jews of the ghettos in Warsaw, for the final do or die battle. In the meantime we have become beggars at the doorstep of the IMF. Mahinda the great Sinhala patriot has finally become a modern Don Juan Dharmapala! -Sri Lanka Guardian
Home Unlabelled Modern Don Juan Dharmapala with a begging bowl
Modern Don Juan Dharmapala with a begging bowl
By Sri Lanka Guardian • March 15, 2009 • • Comments : 7
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Mr.Bahu
You are absurdly wrong & what use of your decades long clamor in wrong politics, only criticizing others with out adding by means a tea spoon filled value to our Country, SL.Now you are too late, suggest you could give some private tuition at least on the subject in your doctorate, to A/L students, free of charge, after quitting politics to preserve the value of time & your education.
Whether you like it or not MR will reign as a hero like Kings Dutugemunu, Gajaba, Parakramabahu, Sapumal Bandara for many decades in the SL history among many many generations & will be a "role model" for future sinhalese sons/daughters to combat any Tamil terror up rising if any again after many centuries.Sorry to admit you will never learn the reality but only drastic criticism while misleading thousands to no where, what use?
The modern Don Juan Dharmapala is none other than Mr. Wickramabahu Karunaratne himself. Making all the false utterances all his life he has become a joker in highest calibre. Rather than helping the Sinhalese and Tamils to live in peace what has he done? Has he ever told LTTE has been wrong? Even now why doesn’t he use his influence to get the innocent civilians released from the LTTE hands? He has venom directed to MR and other leaders in political establishment. He is quite out of touch with the masses. When you are paid by the LTTE to make this slanderous propaganda it is easy. But to build a country is not cake walk. With all the destruction LTTE has done, and the enormous resources government has to find to defend it, we should praise the government for having achieved the results they are now portraying. Which government in the world had to face a terrorist force which has so much of weapons and money? Mr. Wickramabahu without making the same irresponsible statements, at least once should open his eyes and talk with reality.
Dear Dr.Karunarathne,
A few days ago I saw some writhings by angry fourth International members from Europe on their web site accusing LTTE members and the members of their front organizations who harass and threatened them on the streets of European capitals.
We know you are also a member of the fourth International. We have seen all your communications and speeches (public and other wise) accusing the Sri Lankan government for not appeasing the tigers by waging war and as a result ruining the economy of the country. you are dead against the war which the current government took up as the last resorted after LTTE embarked on its 4th Eelam war. Here is my question.Why don't you ask your colleagues not to write and protest harassment they receive at the hand of LTTE thugs because "that is what they do (as terrorists)" just like when give your usual apology for LTTE terrorism in Sri Lanka (saying that "that is what terrorists do")
Dr. Karunaratne this is the whole point. There are people who DO or ATTEMPT TO DO the right thing using common sense. Then there are people like yourself who TALK through your head and prevent others DOING any thing meaningful.
Perhaps it is still not late for you to apologize to the Sri Lankan masses and especially to your party members and retire to the political sunset.
My sense by listening to you and reading your articles is that the best service you can give the people you want to serve so much is to remove yourself from Sri Lankan politics. That way there would be at least one less person who would be in the way of getting problems solved.
Please ignore this man Wickramabahu who is just a book worm (Pothe Gura) who is not practical. These are people who go only by the book and blinkered by old Marxist vision.
He is a joker.
This guy, Bahu has a very short memmory. It's only a few weeks ago he appealed to his friend Obama, Indian leaders to interfere/invade Sri Lanka citing war crimes. Now, he is crying about outside interferance because of governments faults. Old bahu has gone mad. What could you expect from him when he still living in old Russia thinking about the coming revolution? What a failed pathetic character who never criticised LTTE because he genuinely thinks it as the vanguard of fourth international!
Every country needs a few jokers. This poor fella who is burdened with his own doctorate is one of Sri Lanka's own. Come on Dr. tell us another joke.
This Dr. V. Karunaratne is yet another apparent, infamous hypocrite in SL who doesn't know whether he is talking about political, economic and social issues while standing on his greasy head or stripy tail. As I hear he is a communist! How on earth could he talk in favour of MNC's, Foreign Exchange, Risks of FIs, Inward remittances, Exports, Falling Prices, Money, Interest, Inflation etc. today? Does he not know these are the very dynamics/forces of capitalism?
He talks about they way he see of a war. Firstly I wish to remind that the wars must be either won or lost! This(our) war was like an Aldin's Lamp for many political leaders who ruled the country during the past thirty year and the estimated cost to date of it since 1980's is more than $200bln. But the level of the enemy's strength from what it was had grown unrecognizable way that a conventional warfare could not meet to defeat it. According to further military details; the captured arsenal is said to be sufficient for two armies of average size. This strength of the terrorists was openly supported by Dr. VK's current accomplice and former amuse-making Premier Mr. RW, who is the best dancing superstar country has ever had for the tunes of pariahs. He is the main man behind the current strength of the Terrorists and its maniac leader. Therefore, out of this colossal $200bln at least 90% must he be held responsible for. On the contrary the present leader has provided clear leadership to end (one time the key national issue of the country) the 'so called war' within a period of three years militarily. In your very engineering terms it is called "efficiency"!. The second step of the process is the acceptable political solution and hopefully that would be executed to meet the aspirations of peoples of the entire country soon.
It is understandable why you are worried so much. You, it was made public by the Canadian HC in Colombo, tried to migrate to Canada and seek asylum with the support of terrorist front groups. Now that this effort is failed and the truth came to light you are panic & disgruntled. That is why you are talking and writing that makes no sense!
In my opinion countries do not need to burrow, but unfortunately some miserable people with influence are there in them who are addicted to money just as druggists addicted to drugs. They want money even to stand up and sit down. What is crucial with money is to meet the mobility of resources available in the process of national productivity. So, in theory we need a cash injection soon with an end of war in order to focus on this transformation. I hope the Presidents intention is that.
Therefore I would like to remind you that taking money from IMF/WB is an acceptable feature in terms of SENSIBLE integration with the rest of the world as long as we know there is something happening in the country. However this Don Juan stories on current national leader concerns are utter, utter rubbish in compared with your current accomplices, and you yourself for that matter, who are understandably the mouthpieces of terrorists (awaiting asylum seekers in the west). The entire world is in problems while accepting that you are saying that SL will be on a severe economic problem, is it then a fact anymore Dr?. My solidarity will still be on President Rajapaksa for his unstinted international credibility at this global economic environment, where that itself is out of money, the very news of IMF is discussing a loan itself is an achievement. Conditions on loans are always negotiable before or even after it is agreed as long as the leader is upright & not betraying the nation. As far as our president is concerned we have no slightest of doubts in that regard Dr. I thank you very much for implying that you wish not to be Sri Lankan!
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