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Disclose true financial position: Ranil tells Govt.

26 May 2020 12:09 am - 5     - {{hitsCtrl.values.hits}}

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By Yohan Perera 

Former Prime Minister Ranil Wickremesinghe yesterday urged the government to reveal the true situation of the national economy. 

“The issue today is about the future of Sri Lankan people and not merely statistics. Therefore, we request the government to come out with a report on the current status of the economy. Silence will not help the nation to come out of the present situation. As per the Fiscal Responsibility Act, it is the duty of the government to compile a report. The government last came out with a report on the economic situation on March 23 which is now outdated. 
“CNN recently came up with a list of countries that are unable to settle their debts. These included countries like Argentina, Lebanon and Ecuador. According to global indicators, Sri Lanka too could fall into this category. Last month, Fitch ratings put Sri  Lanka into “s-minus” based on debt settlement. Morgan Stanley Ratings is expected to push Sri  Lanka into a minus status too. The ‘Economist’ magazine named Sri Lanka as a nation with highest economic tensions in South Asia. Sri Lanka’s debt services were 87 percent of the GDP in 2019. It is expected to increase up to 93 percent by end 2020 and hit 100 percent in 2021. Sri  Lanka’s total debt services are expected to be USD 3 billion this year and will go up to USD 10 billion in 2023. It is imperative that Sri Lanka looks for short-term export earnings. Import concessions should be given to manufacturing industries,” he said. 


On a different note, he said the Maligawatta stampede indicated the severity of Sri Lanka’s economic downturn.   

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  Comments - 5

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  • Maa Saturday, 30 May 2020 07:42 PM

    This arse now talking big about "financial position" after helping his own buddies loot the central bank.. Typical unprincipled politician.

    SEYED SHERALI Sunday, 31 May 2020 10:19 AM

    Why did you fail to disclose the Central Bank deal?

    Alfred Collins Tuesday, 02 June 2020 04:05 PM

    You made a mess in the last 5 years and expecting these guys to disclose the financial position. You first disclose the fraudulent bond scam, which you are also involved.

    Yosuf Tuesday, 02 June 2020 04:40 PM

    Ranil how come you look for for financial position now when you yourself play out the Central Bank. You should know better this FINANCIAL POSITION . " "Apiwa Gonata Andawanda Epa"

    D L enderaarachchi Friday, 12 June 2020 09:54 PM

    Are you thinking all sri lanlan people are a bunch of bloody fools...


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