The Samagi Jana Balawegaya claims the former administration led by Prime Minister Mahinda Rajapaksa is responsible for the current financial crisis.
Speaking to media this morning, Parliamentarian Eran Wickramaratne said the former government destroyed the economy by obtaining loans.
MP Wickramaratne said if discussions with the International Monetary Fund are successful the government may be able to obtain dollars at 2.5 percent.
The MP said however the former administration obtained loans at an interest rate of 8 percent.
He added such funds shouldn’t be used for projects that will not be beneficial such as the Hambantota Port, Mattala airport, or a conference hall and cricket stadium in Hambantota.
He noted there is no issue regarding obtaining loans, and the only issue is regarding how the funds are put to use.
Commenting on Sri Lanka being downgraded in credit ratings MP Wickramaratne said the international community understood Sri Lanka was unable to repay the loans.
He noted although the government repaid international sovereign bonds, the ratings continued to be downgraded.
The MP claimed the present administration was surprised as they are not aware of economics.
He said in economics what matters is the ability to settle future loans and not the loans that were settled.