Scarcity of funds: Bond market likely to collapse, says Bandula

24 April 2018 06:37 pm - 9 - {{hitsCtrl.values.hits}}

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While claiming that the Central Bank of Sri Lanka lacked sufficient funds to pay back the Treasury bonds and bills before their date of expiry, MP Bandula Gunawardana said the bond market could collapse due to the prevailing situation.

Addressing a news briefing, he said the government needs to pay back the funds of the Treasury bonds and bills before the date of termination and that they were short of funds to do so.

“It is with responsibility that I say the Central Bank doesn’t possess sufficient funds to pay back the Treasury bonds and bills before the deadline expires. It has already suspended the release of funds for this purpose,” MP Gunawardana charged.

He said if this situation continues there would be an enormous impact on the Sri Lankan bond market and it would tarnish the monetary credibility among the international community and those who wish to invest in Sri Lanka. (Sheain Fernandopulle)

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Comments - 9

caliph Tuesday, 24 April 2018 07:00 PM

Rs. 10.5 billion belonging to Perpetual treasury is frozen and held by the Sri Lanka Central Bank. The Treasury Bonds can be paid back by those funds. Central bank has fund to pay back. Do not mislead.

Gammay Tommiya Tuesday, 24 April 2018 07:06 PM

At the rate this country is sinking, does this economic quack think we will have a country or Central Bank by the date these bonds mature?

Sincere Tuesday, 24 April 2018 07:32 PM

Can we get some from Dubai and Ukraine to settle the deficit?

Janathawa Tuesday, 24 April 2018 08:15 PM

Why does Bandula buy bonds at his price?

Raj Tuesday, 24 April 2018 07:33 PM

Congratulations MR for putting sri lanka to this status and handing over the government to MS

Kumara Tuesday, 24 April 2018 08:32 PM

Before undertaking ministerial post in 2002 Ranil government, We thought Bundula is the best person for regain economy. But after undertaking minister post, He was one of weakest minister. He has only talks. performance is zero.

Game vedha Wednesday, 25 April 2018 10:14 AM

Always say something to mislead the public,but now a days people very intelligent,it is better to talk with sense.

karsha Wednesday, 25 April 2018 02:41 PM

Now Govt printing money is over?

TONY Wednesday, 25 April 2018 06:40 PM

ALL WHAT THIS DOCTOR OF ECONOMICS SAYS IS NOT TRUE LIKE OUR PROFESSOR OF LAW. THEY ARE BOTH GOOD CRITICS

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Scarcity of funds: Bond market likely to collapse, says Bandula

Comments - 9

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