FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

Click Link to get instant AI answers to all business queries.
Click Link to find latest Economic Outlook of Sri Lanka
Click Link to view latest Research and Analysis of the key Sectors and Industries of Sri Lanka
Worried about Paying Taxes? Click Link to find answers to all your Tax related matters
Do you have a legal issues? Find instant answers to all Sri Lanka Legal queries. Click Link
Latest images

Latest topics

» McDonald’s අපේ නෙමෙයි අපේ බෝස්ගේ – අබාන්ස් කියයි
by ChooBoy Today at 10:19 am

» AI Assistance for Stock Market Research and Analysis
by ChatGPT Today at 7:12 am

» Comparative Analysis of the Insurance Sector
by God Father Tue Mar 26, 2024 11:46 pm

» Sri Lanka: Why Pay Exorbitant Taxes?
by ChatGPT Tue Mar 26, 2024 10:52 pm

» LANKA CREDIT AND BUSINESS FINANCE PLC (LCBF.N0000)
by K.R Tue Mar 26, 2024 3:15 pm

» CENTRAL INDUSTRIES PLC (CIND.N0000)
by D.G.Dayaratne Tue Mar 26, 2024 9:11 am

» SIYAPATHA FINANACE PLC (SLFL.N0000)
by ChatGPT Tue Mar 26, 2024 7:58 am

» FINANCE AND LEASING SECTOR
by ChatGPT Mon Mar 25, 2024 6:45 am

» LOLC FINANCE PLC (LOFC.N0000)
by ChatGPT Mon Mar 25, 2024 6:36 am

» CIC HOLDINGS PLC (CIC.N0000)
by ChatGPT Mon Mar 25, 2024 6:18 am

» UNION ASSURANCE PLC (UAL.N0000)
by ChatGPT Mon Mar 25, 2024 6:15 am

» First Capital Holdings PLC: Current Financial performance and future outlook
by God Father Sun Mar 24, 2024 10:58 pm

» LankaBizz: Sri Lanka's First ever Artificially Intelligent (AI) Business and Research Assistant
by God Father Sun Mar 24, 2024 7:27 am

» HOTEL AND TRAVEL SECTOR
by ErangaDS Wed Mar 20, 2024 7:22 am

» CIC Holdings Good Times Ahead
by ashan silva Mon Mar 18, 2024 11:00 am

» EPF Fund keep eye on low P/E Shares
by K.R Mon Mar 18, 2024 8:45 am

» SINS - the Tailwind effects of a crisis hit Economy
by Hawk Eye Mon Mar 18, 2024 8:37 am

» Ceylon cold stores
by Hawk Eye Mon Mar 18, 2024 8:25 am

» Asha securities Provide buy signal for CIC
by ddrperera Fri Mar 15, 2024 1:10 am

» CSE ready for another Downtrend?
by D.G.Dayaratne Thu Mar 14, 2024 11:24 am

» LankaLAW Forum : Sri Lanka’s #1 Discussion Platform for Legal Questions and Answers
by blindhog Thu Mar 14, 2024 9:14 am

» Sri Lanka poised to benefit from demand surge for ‘non-China origin’ graphite
by samaritan Wed Mar 13, 2024 1:31 pm

» LOLC hotels
by Maharaja Tue Mar 12, 2024 2:34 pm

» AEL target price ?
by suku502 Mon Mar 11, 2024 11:26 am

» WAPO 200% UP
by LAMDA Sun Mar 10, 2024 10:33 pm

LISTED COMPANIES

Submit Post
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)



CHRONICLE™ YouTube

Disclaimer
FINANCIAL CHRONICLE™ Disclaimer

The information contained in this FINANCIAL CHRONICLE™ have been submitted by third parties directly without any verification by us. The information available in this forum is not researched or purported to be complete description of the subject matter referred to herein. We do not under any circumstances whatsoever guarantee the accuracy and completeness information contained herein. FINANCIAL CHRONICLE™ its blogs, forums, domains, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not in any way be responsible or liable for loss or damage which any person or party may sustain or incur by relying on the contents of this report and acting directly or indirectly in any manner whatsoever. Trading or investing in stocks & commodities is a high risk activity. Any action you choose to take in the markets is totally your own responsibility, FINANCIAL CHRONICLE™ blogs, forums, domains, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not be liable for any, direct or indirect, consequential or incidental damages or loss arising out of the use of this information. The information on this website is neither an offer to sell nor solicitation to buy any of the securities mentioned herein. The writers may or may not be trading in the securities mentioned.

Further the writers and users shall not induce or attempt to induce another person to trade in securities using this platform (a) by making or publishing any statement or by making any forecast that he knows to be misleading, false or deceptive; (b) by any dishonest concealment of material facts; (c) by the reckless making or publishing, dishonestly or otherwise of any statement or forecast that is misleading, false or deceptive; or (d) by recording or storing in, or by means of, any mechanical, electronic or other device, information that he knows to be false or misleading in a material particular. Any action writers and users take in respect of (a),(b),(c) and (d) above shall be their own responsibility, FINANCIAL CHRONICLE™ its blogs, forums, domains, subdomains and/or its affiliates and/or its web masters, administrators or moderators shall not be liable for any, direct or indirect, consequential or incidental violation of securities laws of any country, damages or loss arising out of the use of this information.


AI Live Chat

You are not connected. Please login or register

No proof of market study prior to investment – Ranil

Go down  Message [Page 1 of 1]

CSE.SAS

CSE.SAS
Global Moderator

Greek bonds:

Opposition Leader Ranil Wickremesinghe yesterday questioned the decision by the Central Bank of Sri Lanka to invest in Greek Bonds, which, he said had resulted in losses estimated at about Rs. 3,400 million.

"The main objective of investing in overseas bonds is to earn a larger income through it. Therefore, it is customary to penetrate very scientifically into the future goals prior to engaging in such investments. They are initiated only after inquiring well into the market conditions. Still, there is no indication that such an inquiry has been made on these investments made on Greek Bonds," the Opposition Leader said making a statement in Parliament.

Full text of the statement: "A number of facts on financial investments by the Central Bank of Sri Lanka in Greek Bonds came to light through mass media. Those reports revealed that these facts came to light also at the meeting of the Committee on Public Enterprises (COPE) held recently. Accordingly, it has been revealed that the loss incurred by investment in these Bonds on the country is over Rs. 3,400 million.

According to what has been pointed out by the Economic Specialists, the whole world began to see the degeneration of the economy in Greece in 2009. The most serious economic collapse that came about after re-establishment of democracy in Greece in 1974 came to surface towards the end of the year 2009 owing to world economic crisis and unlimited government expenses.

A clear trend of degeneration in Bonds appeared by April 2010. With a view to save the economy that was falling down, International Monetary Fund (IMF) and European countries offered a sum of Euro 110 billion in May 2010. The situation deteriorated by the end of year 2011. It had to receive further loans in 2012. Not only that, yet another example indicating this degeneration is the figures of Gross Domestic Product in Greece. The figure of Gross Domestic Product in 2010 was minus 3.5 which became a minus 6.9 in 2011. Situation being such, nobody would purchase Greek Securities or Bonds. In fact, many who foresaw this situation sold out their Bonds. But, the Central Bank of Sri Lanka did the right opposite of that, i.e. to purchase Bonds.

The main objective of investing in overseas bonds is to earn a larger income through it. Therefore, it is customary to penetrate very scientifically into the future goals prior to engaging in such investments. They are initiated only after inquiring well into the market conditions. Still, there is no indication that such an inquiry has been made on these investments made on Greek Bonds.

Not only that, certain facts as to whether approval of the Monetary Board of the Central Bank has been taken on this investment were exposed through media. It was also stated that the Auditor General has said that this investment is problematic. Equally, the mass media had reported that this matter has been proceeded with ignoring even the precautions issued by the Auditor General not to invest in these Bonds.

Still, what the Central Bank states is that since the investments made in the other countries were remunerative, this loss is a minor matter. Anybody can understand it to be an unfair statement. Each investment is taken separately and inquired whether they are remunerative or not under the supervision of Parliament. The Parliament cannot ignore the detrimental investments just because the total investment was remunerative."
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=57051

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum