No debt service crisis in 2019, Bandula says citing CB officials

21 November 2018 11:53 pm - 15     - {{hitsCtrl.values.hits}}

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There would not be a crisis in servicing debt in the next year, a team of top Government officials briefed the Cabinet today

A Minister said yesterday that Central Bank Governor Dr Indrajit Coomaraswamy, Economic Advisor to the President Prof. Lalith Samarakoon and Finance Ministry Secretary S.R. Attygalle made a detailed presentation about the debt situation and the present status of the economy to the Ministers.

They made this briefing in the wake of remarks made by former Finance Minister Mangala Samaraweera that the new Government would face a huge crisis in paying loans and interests amounting to the US $ 1 billion in January, as the annual budget could not be passed.

After yesterday’s Cabinet meeting, International Trade Minister Bandula Gunawardane told the Daily Mirror that such a crisis would not arise as pointed out by these officials.

The Minister said the laws governing the issuance of Treasury Bills and Treasury Bonds would enable the Government to proceed with its Debt Servicing without any legal problem. (Kelum Bandara)

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  Comments - 15

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  • nsathees Thursday, 22 November 2018 06:36 AM

    Look, Mr 2500 is doing accounts for Sri Lanka. We are doomed!

    Shafraz B Friday, 23 November 2018 07:11 PM

    Now He is Dr. 2500

    Arnold Thursday, 22 November 2018 06:54 AM

    Simple, borrow more from China and service the debt and also line their pockets. And just postpone the problem for some more years till the debt balloon cannot be inflated any further and blasts on the faces of all Lankans like what happend in Greece.

    Potta Harry Thursday, 22 November 2018 06:56 AM

    Crisis only to general public and future generation to come.

    Fellow Tutor Thursday, 22 November 2018 07:00 AM

    So this means that the UNP led govt had managed the MR debt servicing very well - right Bandu?

    Be Fair Thursday, 22 November 2018 01:30 PM

    Exactly, the UNP did rule for 3 1/2Yrs. So for you to be in power and confidently declare that the govt is ready to pay US$ 1b in January is no doubt reiterating the UNP is good at managing the Economy. Thank you for Bandu

    Saradiel Thursday, 22 November 2018 07:44 AM

    So you admit that the policies of the legal government under MS and RW has worked! Now you the illegal government going to benefit from that. It's funny because you were always criticizing the economic policies of them.

    Jaba Thursday, 22 November 2018 07:47 AM

    This is a two tonge serpent who is ever ready to mahe his master happy and he must be thinking people trust whatever he says.

    selvin Thursday, 22 November 2018 07:51 AM

    Rs 2500.00 Rs 2500.00 Rs 2500.00 Rs 2500.00 Rs 2500.00

    Jude Thursday, 22 November 2018 08:02 AM

    Bonds, Bonds,Bonds and Bonds!! Yeah, Issue Sovereign, Panda and Samurai Bonds to pay enormous government expenditure!!! Thus Mortgaging the Country for Next 40-50 Years !!

    DJ Thursday, 22 November 2018 08:03 AM

    Wonder what the household income should be now Mr. Brilliant economist!

    Rohitha Thursday, 22 November 2018 08:06 AM

    Thanks to the financial deciplene of the UNF government you morons can breathe easy.

    Rohan Thursday, 22 November 2018 12:20 PM

    Bandula says issuing Treasury Bonds and Bills to pay existing loans. That means paying loans by taking more loans. Great theory.

    Zub Thursday, 22 November 2018 01:08 PM

    Suddenly Mr 2500 says that debt servicing is not anissue, perhaps he could teach the world how things change so quickly.

    Sambo Friday, 23 November 2018 08:01 AM

    The government and the people of this country are paying your sins and the previous government stealing. How can you open that bull dog mouth and utter such words.


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