Global indices show SL economy at risk: JO

29 January 2017 01:09 pm - 14 - {{hitsCtrl.values.hits}}

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Sri Lanka’s economy had been dropped in many global indexes, due to the corruption in the Central Bank and other unhealthy development activities taken place in the country, Joint Opposition MP Bandula Gunawardena today said.

“In the reviews of the Bloomberg’s Global Risk Briefing, Transparency International’s Corruption Index 2016, Global Hunger Index and Fitch Ratings Sri Lankan economy has pushed downwards and the meantime US$ 100 million has been issued by the Central Banka to avoid the Rupee depreciating, while the country’s reserves are already limited,” he said.

He said it was after perusing these international organisational reports, the investors decided whether to launch their investments on this land or not. “The reports show the country’s economy had been hit so badly, even though the unity government repeatedly says it is not,” he observed.

“The net foreign direct investments at the end of 2014 which was at USD884 million has been reduced to USD650 million in 2015 a year after the Unity government came to power, according to the Minister of Development Strategies and International Trade Malik Samarawickrama,” he said.

“Country’s Banks forced to sell their bonds to the people and beg money at an interest rate of 13.25%. What would ultimately happen is people have to take personal and housing loans at an interest of 20% - 25%,” he added.

MP Gunawardena stressed that so far the foreign investors had withdrawn their money amounting to USD2.6 billion as a result of this economic instability, for which the current government is directly responsible.

He further said that the government has recognised the threat to the economy and desperately tries to cover it up and using unprofessional methods to recover from the loss by selling country’s land and other government institutions, which could drag the country into more danger. (Thilanka Kanakarathna)

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Comments - 14

Bala Sunday, 29 January 2017 01:19 PM

By just criticising or quoting on economic matters, he wants to show he is an economics expert.

Mohamed Hisham Sunday, 29 January 2017 01:23 PM

Aney ammapa. via DM Android App

Saman Sunday, 29 January 2017 01:25 PM

Yahapalanaya please get all stolen money soonest possible. Good wake up call.

bbod Sunday, 29 January 2017 01:31 PM

IF MR was still the king, we would have overtaken China.

ravin Sunday, 29 January 2017 02:01 PM

May be in his own calculation like family can live with Rs.2500/= per month. These are the people who want rest of the world to be idiots.

Park Sunday, 29 January 2017 07:32 PM

That is because your Boss Mahinda Rajapakse ruined the economy of the country and you guys the JO members robbed the country.

Lal Sunday, 29 January 2017 07:54 PM

Rajapaksa's cooked up GDP growth rates during their time by using outdated base year

Jude Sunday, 29 January 2017 09:30 PM

SL Economy is always at Risk, because of the Politicians!!!!

fayaz Sunday, 29 January 2017 09:50 PM

bandula in which planet were you living during MR time via DM Android App

Ravi Monday, 30 January 2017 08:45 AM

What did MR do during his period ? where were you then ?

BuffaloaCitizen Monday, 30 January 2017 10:16 AM

The children of the JO are having daily parties at some of the lavish 5-star locations one can find. This is because their parents harvested well during Ali Baba's time for these kids to maintain this kind of living. Do you know about that? With Rs. 7,500 per family, as foolishly dictated by you, do you think our children can also relish and have parties the same way as yours?

Burt Monday, 30 January 2017 12:46 PM

He has forgotten who put the SL economy there.

Dr. Watson Monday, 30 January 2017 12:53 PM

Anyone knows the we are in a debt spin due to unprecedented borrowing during the Rajapaksa regime.

Veda mama Tuesday, 31 January 2017 08:02 AM

Now we have to listen to lot of Back Seat Drivers who made a mess of everything while in the Driver's Seat.

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Global indices show SL economy at risk: JO

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