Minister Gunawardane exposes lack of compliance on fiscal management laws
…. the Fiscal Management Responsibility Act No. 3 of 2003…had three main goals…to maintain the budget gap below 5%..... reducing public debt as a percentage of GDP to 65% by 2013, that is, in 10 years…. reducing the amount that the government guarantees when borrowing to 4.5% of GDP…..today the budget gap is at levels such as 10%, 12%, and the amount of public debt has gone up to more than 125% of the GDP. The guarantee for public debt has gone up to 15%...
Official YouTube Page of the Department of Government Information | May 9, 2023
Posted on: 8 June, 2023
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Latest Fact checks
MP De Silva exposes EPF & ETF exposure to govt bonds
The majority of Sri Lanka’s domestic debt is in treasury bonds. We have [almost 9,000 billion] worth of treasury bonds….44.5% of that is in banks….43% was borrowed from EPF & ETF
Daily FT | April 20, 2023
Posted on: 25 May, 2023
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President makes ambiguous claim on debt restructuring
Programme financing gaps: debt service reduction during 2023-27 should be sufficient to close external financing gaps. Under staff baseline scenario, US$17 billion in debt service reduction is required, including the arrears accumulated in 2022 So, we are trying to get a 17 billion debt reduction on that side. Do you want it or not.
Parliament Hansard | April 26, 2023
Posted on: 18 May, 2023
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Minister Nanayakkara right on the rise in remittances
Sri Lankan migrant workers’ foreign remittances increased to US$ 568.3 million in March 2023 from US$ 318.4 million in March 2022. This is a 78.5% (US$ 249.9 million) increase compared to the inflows recorded in March 2022.
Official twitter page of Manusha Nanayakkara | April 6, 2023
Posted on: 11 May, 2023
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MP Weerawansa makes spurious case against the IMF
The total export income has reduced by almost 10% this year when compared to last year. This is a huge reduction. Therefore, it is clear that the economic strategy the government is following under the guidance of the IMF is not providing a remedy to bring this patient named “the economy” - who is in the ICU - out into at least a normal ward.
Official Facebook Page of Wimal Weerawansa | April 3, 2023
Posted on: 4 May, 2023
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CBSL Governor corrects the record on “money printing”
The total base money printed in 2021 was Rs. 344 billion, whilst the net basis reserve money issued in 2022 was below Rs. 40 billion.
Daily FT | February 11, 2023
Posted on: 27 April, 2023
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