Archbishop of Colombo Malcolm Cardinal Ranjith has called on the government to reconsider Sri Lanka’s open economic model and reassess its engagement with the International Monetary Fund (IMF), citing concerns over rising living costs and economic dependency.
Addressing journalists, the Cardinal said Sri Lanka has gradually lost its ability to remain self-sufficient in many essential goods following the introduction of the open economic system in 1978.
“Sri Lanka once had the capacity to produce many of the goods that are now imported. However, the country is increasingly dependent on imports and struggling to bear the associated costs. Therefore, it is time to rethink this economic model,” he said.
Commenting on the IMF programme, Cardinal Ranjith questioned whether continued engagement with the institution should be reassessed.
“The IMF functions like a bank, and its primary focus is not necessarily the welfare of the people. Therefore, this is an appropriate time to reconsider whether Sri Lanka should continue on the same path,” he stated.
The Cardinal also raised concerns regarding governance and anti-corruption efforts, saying the government appears to be facing challenges in implementing an effective programme to curb corruption.
He stressed that greater focus should be placed on reducing the cost of living and addressing the economic hardships faced by ordinary citizens.
Referring to the recent fuel price increase, Cardinal Ranjith noted that developments in the Middle East have contributed to higher fuel costs, which in turn have further increased living expenses for the public.
He emphasized the need for policies that prioritize economic stability and provide relief to people struggling with rising costs.
