He pointed out that the IMF's assumptions on yields are too optimistic compared to the current higher rates, which could lead to unsustainable debt levels unless revenue to GDP exceeds 27 percent.

De Mel argued that the ongoing shallow debt restructuring efforts are insufficient, emphasizing that deeper restructuring typically leads to better outcomes. He also suggested that Sri Lanka should undertake a new DSA to set more realistic targets and improve the chances of securing better terms from creditors.

De Mel further criticized the lack of transparency in the Finance Ministry's budget proposals, accusing it of willful misrepresentation. He stressed the need for the government to justify its fiscal projections with detailed methodologies to ensure accuracy.