-By A Special Correspondent
(Lanka-e-News -29.Oct.2024, 11.30 pm) In a classic display of what some are calling “political theater at its finest,” a prominent SJB politician recently accused the newly minted National People’s Power (NPP) government of printing billions of rupees within its first month in office. According to SJB, the NPP administration has been up to some rather “creative” economic policies, and it seems they believe that NPP’s first order of business was to turn on the metaphorical money printer.
However, NPP’s response came swiftly – and it was downright surgical. Without skipping a beat, the government released a statement: “Show us the evidence,” they declared. “Just one shred of proof that we’ve printed money.” And just like that, the accusatory balloon popped, leaving SJB with a handful of baseless claims and no receipts.
Here’s the thing: in a world of social media fact-checks and live TV debates, throwing around accusations without evidence is a bit like jumping into a pool without checking for water. The SJB, apparently unaware of this, threw itself into the deep end, splashing around in accusations with little understanding of economic policy or market strategy.
What’s especially amusing about this debacle is that SJB’s accusation didn’t just fizzle out – it had the unintended effect of showing just how unprepared they are on the fiscal front. The NPP fired back with an economics lesson: “As a responsible government, we follow a strict monetary policy. No, we’re not printing money; instead, we’re borrowing from the local market.” And why, you ask? Because, as the NPP calmly pointed out, that’s part of an IMF agreement – a detail SJB apparently missed while they were busy playing detective.
To keep up with the debt repayments left by the previous administration, the NPP must borrow locally, as required by the IMF. Yet, the SJB’s comments suggest they might be struggling to grasp even the basics of fiscal policy. One political observer quipped, “Maybe they need a crash course on financial markets. Or perhaps just a dictionary to look up ‘monetary policy’?”
The real kicker here is that SJB seems to oppose everything. They’re against printing money, but they’re also against local borrowing. So, what’s their grand plan for funding government expenditures? Bake sales? Magic beans?
It’s become a running joke among economic analysts: “At this rate, SJB’s next solution might be ‘paying the debt with good vibes and well-wishes.’” The reality is, without borrowing or printing, even the most rudimentary government functions – from infrastructure to social welfare – would grind to a halt. The NPP has decided to borrow locally, a strategy in line with IMF directives to stabilize the economy and tackle inherited debt.
A financial analyst familiar with Sri Lanka’s challenges pointed out, “If the SJB doesn’t want to print money or borrow locally, we’re all curious to hear their alternative. Because the last time I checked, rainbows aren’t valid collateral.”
The saga took an even stranger turn when former President Ranil Wickremesinghe chimed in. Now, here’s a man who, during his own term, was a master of the IMF deal. In fact, some might say he and the IMF were practically pen pals. Yet, here he was, demanding that current President Anura Kumara Dissanayake publicly release details of the IMF agreement. The irony was palpable.
“It’s a bit rich, isn’t it?” remarked one NPP insider. “Ranil negotiated with the IMF like it was his favorite pastime, and now he’s asking Anura to disclose every term? That’s like a chef accusing someone else of using too much salt.” Political spectators couldn’t resist the laugh – it’s rare to witness a former president with a taste for international negotiations suddenly catch a case of “transparency fever.”
In response, the NPP has adopted a “wait and watch” approach. “If the former president really wants a master class in the IMF agreement, we’ll be happy to provide one,” a spokesperson chuckled. “After all, he’s the expert – or at least, he was.”
If there’s one thing that rivals the economic back-and-forth, it’s the peculiar situation with Ranil’s alleged retirement from politics. In a recent announcement, he declared he wouldn’t be contesting any future elections. Yet, political insiders whisper that he’s eyeing a seat through the national list – a backdoor method that, quite frankly, he once criticized other politicians for using.
“It’s a bit like someone who says they’re on a diet but is later spotted in line at the dessert buffet,” joked a political columnist. Ranil’s latest promise not to contest might sound noble, but if he plans to show up in parliament through the back door, it raises a few eyebrows. “This is a man who criticized others for sneaking into parliament, and now he’s gearing up to do the same,” a bemused commentator noted. “It’s classic.”
If nothing else, this entire episode has served as a showcase of classic Sri Lankan political acrobatics. First, there’s SJB, tossing around accusations like confetti, blissfully unbothered by the need for actual evidence. Then there’s NPP, playing it cool and delivering economics lessons to their opposition. Finally, we have Ranil, the former IMF maestro, now leading a chorus of demands for “transparency.”
Meanwhile, the economy appears to be rebounding. Since NPP took office, international financial analysts have noted positive signs, including improved tax collection rates. “The numbers are speaking for themselves,” said an economist. “This administration has barely begun, but they’re making moves that could lead to real growth.” And this, dear readers, is where the comedy takes a turn: SJB accuses NPP of economic mismanagement just as global analysts begin to praise the initial indicators.
Perhaps SJB thought their tactic was foolproof. Maybe they imagined a scandalous headline would be enough to turn the tide. But in today’s world of fact-checking and scrutiny, unsubstantiated accusations tend to backfire. The NPP’s strategic decision to challenge SJB on their evidence – or lack thereof – has painted SJB as a party that, to put it gently, might need a refresher on how finance works.
In one last, humorous twist, SJB seems to be stuck in a loop of accusations and contradictions. They want to oppose borrowing, but they’re against printing money. They want to question IMF agreements but have no better plan. And all the while, Ranil, the master of IMF negotiations, is playing the transparency card like it’s his first day in politics. As one observer put it, “If political doublespeak were an Olympic sport, we’d have some gold medal contenders right here.”
As the drama unfolds, one thing is abundantly clear: politics is alive and well in Sri Lanka. With accusations flying and denials rebounding, the public can sit back and enjoy the spectacle. After all, if there’s anything politicians are experts at, it’s taking a simple issue and turning it into a three-ring circus.
SJB might have hoped to paint the NPP as reckless spenders, but in the end, they’ve mostly exposed themselves as financially confused and eager to latch onto a scandal. The NPP, meanwhile, has played it smooth, sticking to policy and leaving the theatrics to their opponents. And as for Ranil? Well, let’s just say his comeback tour looks to be one for the books.
So, dear readers, as we wrap up this chapter in Sri Lankan politics, take a moment to appreciate the sheer pageantry of it all. Because in a world of uncertainty, one thing remains constant: our leaders will always keep us entertained – sometimes even when they don’t mean to.
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by (2024-10-29 18:50:33)
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