Central Bank says that Sri Lanka’s debt has increased by Rs.70.1 billion

Central Bank says that Sri Lanka’s debt has increased by Rs.70.1 billion

Central Bank says that Sri Lanka’s debt has increased by Rs.70.1 billion

Written by Tharushan Fernando

18 Nov, 2016 | 8:58 pm

The Central Bank of Sri Lanka says that the country’s debt has increased by Rs.70.1 billion due to the issuing of securities including bonds for higher rates.

According to the latest statement released by the Central Bank, the country’s debt after the first seven months of the year stands at Rs.9382 billions.

In a report released by the Central Bank in line with the 2017 budget, it is stated that the country’s debt stood at Rs.8503.2 billion at the end of 2015.

Thereby, the increase in debt amounts to Rs.878.7 Billion  as at the end of July 2016.

In the report, the Rs.70.1 billion increase in debt is attributed to the issuing of securities at high rates.

The Chairman of Committee on Public Enterprise (COPE), MP Sunil Handunnetti charged that there are people who should be held responsible for this.

He explained that there are many problems at the Central Bank, Perpetual Treasuries is still on the list of 16 brokers that give out loans to the Central Bank -and after the COPE report was released, the government should have at least taken a decision to remove this company from the list of brokers until the investigations conclude. But by now they have used their bank accounts for other purposes.

“We know that they are attempting to purchase banks using the money earned”, he said, noting that ‘they’ have begun media institutions and has even started up print media institutions – and these documents of the Central Bank prove that a sound decision was reached through COPE and the people expect justice.

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