Fri, 24 May 2024 Today's Paper

Govt in a sinister move to deny the country’s bankrupt status: Ruwan

20 December 2021 08:07 am - 5     - {{hitsCtrl.values.hits}}


Government is in a sinister move to deny the bankrupt status which the country is facing, UNP Deputy Leader Ruwan Wijewardene said yesterday.

Mr. wijewardene who was speaking to party activists over zoom, said bankruptcy will result in a fuel and power shortages after January 2022.

"Fitch Ratings have named Sri Lanka as a nation which faces bankruptcy. this is because the country's foreign reserves are down to dollars 1.5 billion.

Sri Lanka has to settle a loan of dollars 500 million by January 18 2022. There will be no funds to import fuel and medicines. there will be no funds to

settle debts when this expenditure is met. this is what the rating agencies are talking about. No one will lend to a country that cannot repay.

However the government is trying to deny this situation," Mr. Wijewardene said.

"One cannot blame the COVID 19 pandemic situation for the diminishing of foreign reserves. this is because everything began with the government's

decision to reduce taxes.the reason for the foreign reserve crisis is bad financial management. Also, it is sad to note the absence of a finance minister when the country is plunged into a crisis with the exchange rate issue, gas and fertilizer crises. (YOHAN PERERA)

  Comments - 5

  • Upali Monday, 20 December 2021 09:49 AM

    You and your previous leaders are also part and parcel for the situation

    janp Monday, 20 December 2021 10:25 AM


    Kikazaru Monday, 20 December 2021 10:58 AM

    The Sri Lanka government can lie to the public but not to the international ranking agencies.

    Samuel thomas Monday, 20 December 2021 11:40 AM

    Hasty move by per the govt.

    Ronnie Bugger Monday, 20 December 2021 11:40 AM

    Just save your stale and and lame comments and thoughts for the birds. No one pays attention to you.

Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment