Ravi K renews attacks on Cabraal on hedging deal

23 July 2015 03:28 am - 0 - {{hitsCtrl.values.hits}}

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By Lahiru Pothmulla and Sanath Desmond
Finance Minister Ravi Karunanayake yesterday challenged former Central Bank Governor Ajith Nivard Cabraal to reveal the amount of the loss the country had incurred because of the hedging deal signed with his blessing, instead of accusing the new government on its economic policies.

Addressing a news conference at the ministry, Minister Karunanayake said the country had lost Rs.33 billion from the deal and said Cabraal had given the green light for the deal with the approval of the then Finance Minister, former President Mahinda Rajapaksa.

“The hedging deal will continue to make losses exceeding Rs.60 billion, to which Cabraal is responsible.

Rs.33 billion had been paid thus far to cover the loss resulted from the deal. Today, instead of speaking on this fraud, he is accusing the new government,” he said.

The minister reiterated that they were implementing policies and making decisions following the proper standard procedures unlike the previous government.
He also said that they had gone to the court eight years ago against the hedging deal and said he was surprised why neither the police nor Financial Crime Investigation Division (FCID) had arrested Cabraal so far in this regard.

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Ravi K renews attacks on Cabraal on hedging deal

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