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Last Updated : 2024-04-25 20:04:00
In his statement, the MP claims that Sri Lanka’s assets are USD 400 billion, and commitments are USD 47 billion, therefore Sri Lanka is not bankrupt, but instead does not have the dollars to meet its day-to-day expenses.
In the context of national accounts, the term bankrupt is used colloquially; the formal accounting term used is insolvency. As such, to check this claim, FactCheck.lk interprets the MP as claiming that Sri Lanka is not facing insolvency but only a lack of liquidity (please refer the longer version of this fact check on our website for the distinction in the definitions for insolvency and illiquidity).
According to the IMF’s staff report for the 2021 Article IV consultation with Sri Lanka, which Sri Lanka has accepted, the country’s ‘public debt is unsustainable and points to a clear solvency problem’.
Roisin Sunday, 14 August 2022 11:21 AM
Even a former MP of FINANCE makes false statements about the economy!
Keep going, do better Wednesday, 17 August 2022 07:51 PM
In law court he would say anything to win for his client. Misconstrue any fact to suit the purpose for what he is paid for. So he try to do for Lanka good But IMF and world economists, are unlike the Central Bank governor. They will independently know about Sabry falsehoods and then what for us? They have a view like: "Oh, Sri Lanka, utterly untrustworthy officials having country. They just want money, then they use it all projects nothing to do with what the finance was for." You destroy credibility of country with your poor performance. If you were in court, like this, all your clients would lose. So, however you put forward the truth or not, but try better to make it hard to find out. So silly foreigner can give us the money we all need. So your intention is good, but so far execution poor. But you better than most others, so still good man. Keep going.
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