Govt. can repay loans for 2019: Fin. Ministry

22 November 2018 08:58 am - 12     - {{hitsCtrl.values.hits}}

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Rejecting media reports that the government was unable to repay loans next year, the Finance Ministry said loans would be serviced and repaid during the 2019 financial year.

Issuing a statement, the Ministry said:

The Government of Sri Lanka (GOSL) has raised loans in terms of the provisions of the specific laws including the Registered Stock and Securities Ordinance, No. 7 of 1937, Local Treasury Bills Ordinance, No. 8 of 1923 and the Foreign Loans Act, No. 29 of 1957. As such, any dues on such loans that may arise, in accordance with the respective terms and conditions attributed to such borrowings, can validly be charged on the Consolidated Fund as provided for, in the Constitution of the Democratic Socialist Republic of Sri Lanka and such specific laws as noted.

Therefore, the GOSL wishes to assure all lenders that all such dues will be met on the due dates as has been the time honoured tradition of the country where we have maintained an unblemished track record of debt payments.

Further, we wish to note that this Ministry has been closely collaborating with the Central Bank of Sri Lanka to ensure that adequate buffers are created and maintained in view of the dues that will arise in 2019 especially the repayment of the International Sovereign Bond (ISB) amounting to USD1,500 million maturing during the year 2019.

 

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  Comments - 12

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  • Unchikun Thursday, 22 November 2018 09:06 AM

    The contents of this article makes me laugh from my orifice from the back. So the present "so called Government" will take loans (or issue bonds) to repay the loans. Ha Ha Ha, no income from the infamous Harbor and Airport.

    sach Friday, 23 November 2018 10:58 PM

    What do you think Ranil would have done? The habour would have made profits if your fake molay did not sell it

    lolita Thursday, 22 November 2018 09:18 AM

    Cabral must have returned. In the past he once predicted we were about to surpass the economy of US..@

    Chryshan K. Thursday, 22 November 2018 09:26 AM

    Simple. Just take a temporary loan of 1billion dollars from MR

    Saradiel Thursday, 22 November 2018 09:30 AM

    Thanks to the economic policies during the last 3 1/2 years ??

    sach Friday, 23 November 2018 10:59 PM

    Do u have any idea about economic policies of the last 3 and half years? Bank bonds at all?

    Lord Wolfstein Thursday, 22 November 2018 09:35 AM

    Why not pay the loans from your pocket. You looted more than enough you fake finance minister.

    Shas Thursday, 22 November 2018 09:42 AM

    Thank you unp

    sach Friday, 23 November 2018 10:59 PM

    Fore screwing the country? and working against the IMF loan.

    Cheers Thursday, 22 November 2018 01:04 PM

    Harsha, ranil and mangi now will get a heart attack shame on those guys trying to bring stir the ship soon mahinda will stir them to retire for life

    Will Thursday, 22 November 2018 07:13 PM

    government should take this opportunity, work quickly and faster to bring more aircraft to Mattala and should show its really financially viable, to the country sooner,

    kumar Thursday, 22 November 2018 07:30 PM

    Raise a loan from China at 10%, and pay in 2020! May you all who caused this debacle of our country over the last many decades be judged for your deception.


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