Archbishop of Colombo, Malcolm Ranjith, has issued a sharp critique of Sri Lanka’s long-standing open economic model, urging authorities to reconsider the direction of national policy. Speaking to the media, he argued that the liberalisation of the economy since 1978 has weakened domestic production capacity and left the country increasingly reliant on imports for essential goods. He noted that Sri Lanka once had the ability to manufacture many of the items it now imports, but that this capacity has gradually eroded, placing strain on the economy and foreign exchange reserves.
The Cardinal also raised concerns over the country’s ongoing relationship with the International Monetary Fund, suggesting that Sri Lanka should reassess its participation in the programme. He described the institution as functioning similarly to a financial lender whose priorities may not fully align with the welfare of ordinary citizens, and questioned whether continued engagement is the best path forward for the nation’s economic recovery.
In addition to macroeconomic policy, he commented on domestic governance, stating that efforts to tackle corruption appear to be facing significant challenges. He stressed that greater attention should be directed toward alleviating economic hardship and reducing the cost of living, which remains a central concern for many households across the country.
He further pointed to recent increases in fuel prices as a key driver of rising living costs, linking them to broader international developments, including tensions in the Middle East. According to him, these external shocks have had a direct impact on everyday expenses in Sri Lanka, further intensifying pressure on already struggling families.
