The opposition says the Monetary Board must be reappointed.
Speaking during a media briefing in Colombo Parliamentarian Dr. Harsha de Silva said all decisions reached by the current Monetary Board are incorrect, adding faith in the Monetary Board has been lost.
The MP noted the report issued by the International Monetary Fund states measures must be taken to facilitate the value of the rupee to increase in a gradual manner.
He added however that floating the rupee at once is not the correct solution.
MP de Silva also questioned where the letter directed by the IMF was and who signed to accept it, adding the general practice is that it must be signed by the Minister of Finance and the Governor of the Central Bank.
The MP called on the government to present the letter and formulate a programme for loan restructuring.
He said those who provided loans to the country have found attorneys to seek legal action adding however Sri Lanka hasn’t found attorneys.
MP de Silva stressed the government must find legal and financial advisors, bring in finances, increase the interest policy, halt printing money and remove arbitrary laws that were imposed.
He noted he was shocked to find out that Fund Managers who represent sovereign bond holders had met with the President adding it is wrong for the Head of State to allocate time to meet with them.
The MP added such matters should not be negotiated by the President and should be done by professional representatives.
MP de Silva said a committee comprising Minister Ali Sabry and GL Peiris was reportedly named to appoint such a committee and questioned why the President allocated time to meet with them instead and questioned how the Head of State can restructure bonds.