If nay of you believe that US is hole heatedly helping sri lanka to uplift its economy, you better think twice. the main idea of the IMF funding is to keep the sri lanka under the control of US. then only they can have the best of the living standards in the world. if sri lanka stand alone without debts to a third party, the living standards of the Sri lankans grow high. then sri lankan will not do slavery to other nations.
IMF is not a sole property of USA, but they are the leader who has about 17% quotas and voting power of IMF. May I ask, who will give you a loan without conditions? But on the other hand borrowers duty is to use that loans wisely.
Did or does Srilanka use loans wisely? Did the government disclose everything to public? I think public has right to know. Anyway, You are to judge.
Srilanka used IMF very low interest funds to pay basically some debt and infrastructure projects. Did not use for investments, like job creation projects or invest to increase local productions like agricultural, pharmaceutical, chemical (using local raw materials)...etc. I agree with some of you that country need the infrastructural developments like roads.
But what MR.R did was, he used borrowed money with higher interest rates for white elephant(to keep his name) projects like New seaport, new airport......etc. Do Srilanka really need these projects right now? China always comes with own conditions like to use only Chinese labours,machinery and raw materials...etc. Why Srilanka did not negotiate with China o use local engineers, labours and materials? What happened to suddenly appeared rock with extra blasting expenses? Did no one see rock prior to start of the project?
See some :
Sri Lanka s port authority in August said it has asked China for $40 million loan to demolish a massive seabed rock obstructing the entrance of its new $1.4 billion Hambantota port, due to start commercial operations this year.
For 'I did' ceremony:
Rs. 700 million for Hambantota Port water filling ceremony Rs. 30 million for Jackson Anthony s pocket filling ceremony
For 'MY NAME' Airport
New airport-Why you need it when you can use and enough space to expand the current Colombo?
China is to lend Sri Lanka about $200m ( 133m) to build a second international airport in the south of the island.
I guarantee this project also will end up with extra $100 million.
Other white elephant is 'My Air line'- MIHIN AIR
From the day one due to bad management started to lose millions millions of dollars and still keep losing.
SriLankan is expected to lose around 170 million US dollars in the year to March 2012 and Mihin Lanka about 15 million US dollars, according to other reports.
So many other unnecessary extravaganzas and projects with loaned money? End of the day, public is paying with high cost of living.
I think these all unnecessary, unwise expenses are not for the LOVE OF COUNTRY', You guess for what?