Import allocations used to settle debt : Patali

COLOMBO (News1st): The government had used funds allocated for imports to settle foreign debts, opposition lawmaker Patali Champika Ranawaka has said. Speaking in Anuradhapura, the Samagi Jana Balawegaya parliamentarian recalled how the central bank had called on banks to offer loans under a one percent interest. "That was because the Central bank had received the 200 million dollars on the interest of 1 percent. But the other banks were only willing to do so for an interest of 7 percent," Ranawaka noted. He claimed that only 22 percent of money lenders in the market responded positively to the proposal. The opposition parliamentarian also pointed out that the government had printed 100 million US dollars to keep the rupee afloat is it depreciated against the greenback. "That is how they're protecting their dollars. How can we operate the country in such a manner?" he remarked.