There were some serious systematic defects in the treasury:CBSL Governor Arjun Mahendran

There were some serious systematic defects in the treasury:CBSL Governor Arjun Mahendran

There were some serious systematic defects in the treasury:CBSL Governor Arjun Mahendran

Written by Tharushan Fernando

11 May, 2016 | 4:07 pm

The Central Bank report was published at the Sri Lanka Central Bank Training Institute under the auspices of Central Bank Governer Arjun Mahendran.

Those reports mentioned the foreign borrowings of the Parliament of PM saying that they are unable to face the exact amount of the foreign borrowings

The CBSL Governor Arjun Mahendran was questioned as to how it was possible for the state institutions or government departments to borrow without the knowledge of the CBSL, and whether the figures presented could be relied on.

In reply, the CBSL Governor stated that the Prime Minister said that he was concerned that there were state enterprises that had borrowed without the knowledge of the government and without the knowledge of the treasury: and not the Central Bank.

“If they weren’t aware of these borrowings then there were some serious systematic defects in the treasury and the management of the public enterprise division”,charged the Governor

He added that in order to address the situation, a team of experts from the IMF have been brought down and they have spent three months with treasury officials, who have been quantifying these liabilities of the government and contingent liabilities in particular.

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