Sri Lanka Crisis: Many big problems are going to come before Sri Lanka's new PM Wickremesinghe, know which is the most formidable
The new Prime Minister of Sri Lanka, Ranil Wickremesinghe, faces many big challenges. He has taken over the reins of the country at a time when there is anarchy in the country. There is anger among the people regarding the former Rajapaksa government of the country. At the same time, the financial condition of the country has become so bad that it is very difficult to say that it will be resolved within some time. However, Wickremesinghe has held the post of Prime Minister in the past as well as being a leader of great stature in Sri Lanka. Experts believe that he is such a face that can be successful in providing immediate relief.
No other option but Wickremesinghe
Professor Harsh V Pant of the Observer Research Foundation says that President Gotabaya had no other option than Wickremesinghe. Wickremesinghe is considered a supporter of western countries. Therefore, he can also play a big role in the ongoing negotiations on debt with the IMF. At present, in addition to a stable government in the country, it is necessary to have such a person at the top of the power that the financial institutions can talk to and decide the rules of debt. Apart from this, Wickremesinghe also has a positive attitude towards India.
Biggest challenge to solve domestic problem
Professor Pant says that the biggest challenge before Wickremesinghe is to solve the domestic problem. Pant believes that even if Sri Lanka gets loans from foreign institutions, then strict steps will have to be taken to repay it in future. Foreign institutions or Western countries Sri Lanka will have to take big steps. Multiple taxes can be levied or existing taxes can only be increased. Apart from this, many such steps may also have to be taken which people may go through exasperating. In such a situation, Wickremesinghe will also have to face the adverse reaction coming from the people.
$56 billion foreign debt
Let us tell you that Sri Lanka has an external debt of $ 56 billion. Sri Lanka needs about two billion dollars only to pay its interest. If interest is not paid on time, he can be declared a defaulter in July. If this happens, the situation for Sri Lanka will become very delicate. At the same time, Sri Lanka is in talks with the IMF for a loan of about $ 4 billion. But, Sri Lanka's problem is not going to be corrected by this alone.
IMF loan can give immediate relief
According to Professor Pant, if the IMF agrees to give a loan to Sri Lanka, then it can definitely give relief to it immediately. After this Sri Lanka will have to decide some way on its own. Although it is not so easy, but it will also be a big support for him in the present time.