Sri Lanka’s total debt is over Rs 10.7 trillion – Auditor General

Sri Lanka’s total debt is over Rs 10.7 trillion – Auditor General

Written by Staff Writer

01 Jul, 2018 | 12:21 am

COLOMBO (News 1st) – Serious anomalies in the exact debt position of the country have come to light with the release of the Central Bank Annual report and the annual report of the Ministry of Finance.

Activist Wasantha Samarasinghe appearing on the Newline program earlier this week pointed out that the actual economic growth rate if 2.7% instead of the 3.2% that has been reported.

The Central Bank Annual Report for 2017 indicates that the debt to GDP ratio stands at 77%. However, the Ministry of Finance Annual Report carries a statement from the Auditor General that states the actual debt position is not as stated.

The Auditor General states that the total debt is Rs. 10,702 Billion and not Rs 10,313 billion as stated by the Ministry of Finance. The Auditor General states that the debt to GDP ratio is 81%. The difference in rupee terms is Rs 389 Billion ($2.5 Billion).

On Wednesday (June 27) Minister Lakshman Kiriella hinted the statistics put forward are from the Central Bank. He stated that the statistics put forward by the Government are provided by the Central Bank. However, it must be noted statistics in the country are always prepared by the Department of Census and Statistics.

Incidentally, this Department falls under the ambit of the Ministry of National Policies and Economic Affairs. The subject minister of this ministry is none other than Prime Minister Ranil Wickremesinghe.

Activists question whether the figures in the reports have been changed on the insistence of the Prime Minister just as he insisted Former Central Bank Governor Arjuna Mahendran to follow a full auction system at the 2015 Treasury Bond Auction.

The People insist on the truth

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