Ex Pres Ranil Wickremesinghe Warns of Sri Lanka’s Vulnerable Economy, Urges Clear Recovery Plan and Investment-Friendly Policies

In a recent appearance on the YouTube program “Conversations with Alanki,” former Sri Lankan President Ranil Wickremesinghe addressed the current economic challenges facing the nation, providing a candid assessment of the country’s precarious situation.

Wickremesinghe emphasized that Sri Lanka remains in a vulnerable state, despite efforts to stabilize the economy. “When we were in power, the patient was dying, the patient was on machines. We removed the tubes, and now the patient is in the ICU, but they’re not out of danger in any way,” he explained. The former president stressed the need for a robust recovery program, acknowledging that while progress had been made, much work remains to be done to pull the country out of crisis.

Wickremesinghe also expressed concern about the lack of clear policies under the current government. “What is the present government doing? I do not know, because they are not very clear as to what their policies are,” he said, pointing out that some of the government’s decisions may have discouraged potential investors. In particular, he highlighted issues in the renewable energy sector, which has seen a reduction in foreign investment following the rejection of key projects.

“Remember, when you turn down Adani projects, other Indian projects will not come,” Wickremesinghe warned, referring to the controversial decision to halt the Adani Group’s involvement in Sri Lanka’s infrastructure projects.