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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » I will pay entire debt in one day අපි ගොඩ ද ?

I will pay entire debt in one day අපි ගොඩ ද ?

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Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
A successful businessman has launched a big propaganda to become the next president of Sri Lanka. He claims he can pay or settle entire external debt in one day. He has already bought a media network just for this project.

He disclosed very proudly - in his   youtube talk- that their inflow  for last year was 80 million USD.
Yes, all of us should salute for his success. (BTW Our foreign workers sent 7600 million USD last year. )

Then he explained how he is going to do it.
We are paying  5-6% interest for our Dollar loans.  There are many banks in the Europe with zero interest or just 1% interest.  Some are having (or charging) negative interest. That means they pay when we take loans from them.

He is going to reschedule all our existing loans to those banks and bring our huge interest payment to almost nil.
This is how he intends to save our land.

What do you think ?


Incidentally he (Mr. Pallewatta G. Rohan) is a close relative of our current President  (Pallewatta G.  Sirisena.  )

Yahapalanaya

Yahapalanaya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
He is talking about his hard earned money Koatiya 1200 SL rupees(12,000Million).He is bringing $$$ to Srilanka not robing people's money.

He has every right to contest election.

Whenever genuine person come for election Baiyo tarnish his name and try to destroy him like what happened to our Field Marshall SF.

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
As usual no talking about the facts.

Typical Yahapalana behavior .

ranferdi

ranferdi
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
The possible contestants motive may be good, But we need to evaluate possibility, Sri Lanka total external debt is 46 billion USD, Can we have arrangement with European banks for such a huge amount?
Where is it possible to secure 2% rate for USDloans, As I know its about 4% 6%.
Someone please verity.

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Yahapalanaya

Yahapalanaya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Fact

He is doing politics with his hard earned money since he is relative to current president.Thinkabout how MARA's relative did politics.

Let him to explain further in the money matter.It may not be achievable.But he is not a fraud.He is bringing 12,000M ruppees to Srilanka by hardworking.He has every right to canvass and contest in election.

ranferdi

ranferdi
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Yahapalanaya wrote:Fact

He is doing politics with his hard earned money since he is relative to current president.Thinkabout how MARA's relative did politics.

Let him to explain further in the money matter.It may not be achievable.But he is not a fraud.He is bringing 12,000M ruppees to Srilanka by hardworking.He has every right to canvass and contest in election.

Yes True... 
We need to encourage true gentlemen into politics..
Need to think out of the box and canvass more professionals into politics.

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zenobia


Manager - Equity Analytics
Manager - Equity Analytics
did you ever stop to think, if by some means he managed to pay debts he will own a sizable portion of this country's assets, who will we be, his debtors? what action will he use on people of this country to recover his money? think of the possibilities and it looks seriously scary

MasterD


Stock Analytic
Stock Analytic
I have seen his speeches 8 years back when I was in university and it was inspirational.
He will not pay Govt debt from his own money. HE will be using his contacts to pay that amount via a Japanese consortium(banks and other entities) and convert it to a loan of 2% to Japanese. There is no elimination of debt. We have to pay anyway. but the debt servicing cost(interest)  will be less. Then again the cost to be borne by our country for that benefit is less known. 
However he is a true gentlemen and a loves sri lanka

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Is he a real patriot to lessen the debt cost of the country. Methodology outlined is farsighted. But could be complex one.

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
A qualified person who has experience and knowledge with Govt debt arrangements should explain this to the public.

Is it possible to get or reschedule 1-2% interest loans for a country ?
What about credit ratings ?
If this is possible why can't our Govt. do it now ?

My personal view is, this is like a fairy tale.
A person who had an inflow of 80 million is talking about rescheduling 46,000 million.

samaritan


Moderator
Moderator
@MasterD wrote:I have seen his speeches 8 years back when I was in university and it was inspirational.
He will not pay Govt debt from his own money. HE will be using his contacts to pay that amount via a Japanese consortium(banks and other entities) and convert it to a loan of 2% to Japanese. There is no elimination of debt. We have to pay anyway. but the debt servicing cost(interest)  will be less. Then again the cost to be borne by our country for that benefit is less known. 
However he is a true gentlemen and a loves sri lanka
If so, as Chinwi has stated what's holding back the Govt of Sri Lanka from doing the same thing. You mean to say an individual is trusted more than the Govt of Sri Lanka???

In my opinion, as it is 20A to the constitution to postpone PC elections may not see the light of day. This may be a cheap publicity to reverse the growing unpopularity of the Govt in order to face the PC elections. A big carrot is being shown to the people. 
I will pay entire debt in one day   අපි ගොඩ ද ?  2Q==


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