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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Possible Debt Default - MR & Mangala

Possible Debt Default - MR & Mangala

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1Possible Debt Default - MR & Mangala Empty Possible Debt Default - MR & Mangala Wed Nov 28, 2018 9:55 am

ranferdi

ranferdi
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics

Mahinda & Mangala agree that Sri Lanka could end up like Greece



Former Finance Minister Mangala Samaraweera and his successor Mahinda Rajapaksa have warned that if effort to restore a stable government fails before long, the country would undoubtedly share the fate of Greece which defaulted on its debt in 2015.

Rajapaksa addressing the nation on Sunday said that," This is the last opportunity we have. If our effort fails, this country will end up like Greece. We will have to work on this assumption that there is a situation of national calamity with regard to the economy. The former finance minister claims that the economy is on a downward trend because of the change of government. President Maithripala Sirisena invited me to take over the government because of the collapse of the economy during the previous government”.

Meanwhile, former finance minister Mangala Samaraweera during a media briefing held last week said that “The actions of the October 26 coup has irreversibly undermined Sri Lanka’s credibility in global markets – risking our ability to service future debt. We are being pushed towards a state of economic collapse where we could stumble on to a Greece like situation where it suffered structural problems in its economy. The only way to rescue Sri Lanka from this unfortunate and unnecessary crisis is for the President to recognize the Prime Minister and the government that was in place prior to October 26twhich continues to command the clear majority in parliament”.

However, at the same press briefing UNP MP Dr. Harsha de Silva said the EU and the IMF defended strong and credible debt arrangements for Greece and one can't expect Sri Lanka to get such emergency funds in case of a financial crisis.
Note:: What I wonder is MR is asking for help from people of country after creating the pathetic situation in collaboration with MR3.

Source : http://newshub.lk/en/News.aspx?PostID=5333&fbclid=IwAR0QfpdF13hGXkyprEvl5SkbnMtsu1NKIUxvG8lU2AUO7p6aScECWVvf42s

http://::::THIS EMAIL DOESNT WORK.. PLEASE CONTACT ME ON FB ACCO

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