The Investor Sentiment - Equity and investments forum for Sri Lankans



Join the forum, it's quick and easy

The Investor Sentiment - Equity and investments forum for Sri Lankans

The Investor Sentiment - Equity and investments forum for Sri Lankans

Would you like to react to this message? Create an account in a few clicks or log in to continue.
The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

Please send an email to contact.lankaninvestor@gmail.com if you face any technical difficulties when posting

Latest topics

» CCS.N0000 ( Ceylon Cold Stores)
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyWed Mar 20, 2024 11:31 am by Hawk Eye

» Sri Lanka plans to allow tourists from August, no mandatory quarantine
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyWed Sep 13, 2023 12:16 pm by lauryfriese

» When Will It Be Safe To Invest In The Stock Market Again?
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyWed Apr 19, 2023 6:41 am by කිත්සිරි ද සිල්වා

» Dividend Announcements
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyWed Apr 12, 2023 5:41 pm by කිත්සිරි ද සිල්වා

» MAINTENANCE NOTICE / නඩත්තු දැනුම්දීම
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyThu Apr 06, 2023 3:18 pm by කිත්සිරි ද සිල්වා

» ඩොලර් මිලියනයක මුදල් සම්මානයක් සහ “ෆීල්ඩ්ස් පදක්කම” පිළිගැනීම ප්‍රතික්ෂේප කළ ගණිතඥයා
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptySun Apr 02, 2023 7:28 am by කිත්සිරි ද සිල්වා

» SEYB.N0000 (Seylan Bank PLC)
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyThu Mar 30, 2023 9:25 am by yellow knife

» Here's what blind prophet Baba Vanga predicted for 2016 and beyond: It's not good
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyThu Mar 30, 2023 9:25 am by HaeroMaero

» The Korean Way !
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyWed Mar 29, 2023 7:09 am by කිත්සිරි ද සිල්වා

» In the Meantime Within Our Shores!
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyMon Mar 27, 2023 5:51 pm by කිත්සිරි ද සිල්වා

» What is Known as Dementia?
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyFri Mar 24, 2023 10:09 am by කිත්සිරි ද සිල්වා

» SRI LANKA TELECOM PLC (SLTL.N0000)
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyMon Mar 20, 2023 5:18 pm by කිත්සිරි ද සිල්වා

» THE LANKA HOSPITALS CORPORATION PLC (LHCL.N0000)
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyMon Mar 20, 2023 5:10 pm by කිත්සිරි ද සිල්වා

» Equinox ( වසන්ත විෂුවය ) !
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyMon Mar 20, 2023 4:28 pm by කිත්සිරි ද සිල්වා

» COMB.N0000 (Commercial Bank of Ceylon PLC)
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptySun Mar 19, 2023 4:11 pm by කිත්සිරි ද සිල්වා

» REXP.N0000 (Richard Pieris Exports PLC)
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptySun Mar 19, 2023 4:02 pm by කිත්සිරි ද සිල්වා

» RICH.N0000 (Richard Pieris and Company PLC)
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptySun Mar 19, 2023 3:53 pm by කිත්සිරි ද සිල්වා

» Do You Have Computer Vision Syndrome?
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptySat Mar 18, 2023 7:36 am by කිත්සිරි ද සිල්වා

» LAXAPANA BATTERIES PLC (LITE.N0000)
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyThu Mar 16, 2023 11:23 am by කිත්සිරි ද සිල්වා

» What a Bank Run ?
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyWed Mar 15, 2023 5:33 pm by කිත්සිරි ද සිල්වා

» 104 Technical trading experiments by HUNTER
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyWed Mar 15, 2023 4:27 pm by katesmith1304

» GLAS.N0000 (Piramal Glass Ceylon PLC)
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyWed Mar 15, 2023 7:45 am by කිත්සිරි ද සිල්වා

» Cboe Volatility Index
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyTue Mar 14, 2023 5:32 pm by කිත්සිරි ද සිල්වා

» AHPL.N0000
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptySun Mar 12, 2023 4:46 pm by කිත්සිරි ද සිල්වා

» TJL.N0000 (Tee Jey Lanka PLC.)
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptySun Mar 12, 2023 4:43 pm by කිත්සිරි ද සිල්වා

» CTBL.N0000 ( CEYLON TEA BROKERS PLC)
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptySun Mar 12, 2023 4:41 pm by කිත්සිරි ද සිල්වා

» COMMERCIAL DEVELOPMENT COMPANY PLC (COMD. N.0000))
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyFri Mar 10, 2023 4:43 pm by yellow knife

» Bitcoin and Cryptocurrency
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyFri Mar 10, 2023 1:47 pm by කිත්සිරි ද සිල්වා

» CSD.N0000 (Seylan Developments PLC)
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyFri Mar 10, 2023 10:38 am by yellow knife

» PLC.N0000 (People's Leasing and Finance PLC)
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyThu Mar 09, 2023 8:02 am by කිත්සිරි ද සිල්වා

» Bakery Products ?
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyWed Mar 08, 2023 5:30 pm by කිත්සිරි ද සිල්වා

» NTB.N0000 (Nations Trust Bank PLC)
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptySun Mar 05, 2023 7:24 am by කිත්සිරි ද සිල්වා

» Going South
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptySat Mar 04, 2023 10:47 am by කිත්සිරි ද සිල්වා

» When Seagulls Follow the Trawler
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyThu Mar 02, 2023 10:22 am by කිත්සිරි ද සිල්වා

» Re-activating
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptySat Feb 25, 2023 5:12 pm by කිත්සිරි ද සිල්වා

» අපි තමයි හොඳටම කරේ !
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyTue Feb 14, 2023 3:54 pm by ruwan326

» මේ අර් බුධය කිසිසේත්ම මා විසින් නිර්මාණය කල එකක් නොවේ
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyTue Jan 03, 2023 6:43 pm by ruwan326

» SAMP.N0000 (Sampath Bank PLC)
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyWed Nov 30, 2022 8:24 am by කිත්සිරි ද සිල්වා

» APLA.N0000 (ACL Plastics PLC)
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyFri Nov 18, 2022 7:49 am by කිත්සිරි ද සිල්වා

» AVOID FALLING INTO ALLURING WEEKEND FAMILY PACKAGES.
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyWed Nov 16, 2022 9:28 pm by කිත්සිරි ද සිල්වා

» Banks, Finance & Insurance Sector Chart
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyTue Nov 15, 2022 5:26 pm by කිත්සිරි ද සිල්වා

» VPEL.N0000 (Vallibel Power Erathna PLC)
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptySun Nov 13, 2022 12:15 pm by කිත්සිරි ද සිල්වා

» DEADLY COCKTAIL OF ISLAND MENTALITY AND PARANOID PERSONALITY DISORDER MIX.
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyMon Nov 07, 2022 6:36 pm by කිත්සිරි ද සිල්වා

» WATA - Watawala
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptySat Nov 05, 2022 8:44 am by කිත්සිරි ද සිල්වා

» KFP.N0000(Keels Food Products PLC)
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptySat Nov 05, 2022 8:42 am by කිත්සිරි ද සිල්වා

» Capital Trust Broker in difficulty?
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyFri Oct 21, 2022 5:25 pm by කිත්සිරි ද සිල්වා

» IS PIRATING INTELLECTUAL PROPERTY A BOON OR BANE?
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyThu Oct 20, 2022 10:13 am by කිත්සිරි ද සිල්වා

» What Industry Would You Choose to Focus?
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyTue Oct 11, 2022 6:39 pm by කිත්සිරි ද සිල්වා

» Should I Stick Around, or Should I Follow Others' Lead?
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyTue Oct 11, 2022 9:07 am by කිත්සිරි ද සිල්වා

» DV-2024 Program: Online Registration
Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime EmptyThu Oct 06, 2022 11:26 am by කිත්සිරි ද සිල්වා

Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

+2
sashimaal
Rana
6 posters

    Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime

    avatar
    Rana
    Top contributor
    Top contributor


    Posts : 1786
    Join date : 2015-12-16

    Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime Empty Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime

    Post by Rana Tue Mar 01, 2016 9:54 am

    ECONOMYNEXT – Sri Lanka’s government has uncovered liabilities worth 1.15 trillion rupees that had been hidden by the former Rajapaksa regime, making the debt burden that needs to be repaid worse than anticipated, Finance Minister Ravi Karunanayake said.

    The government was now trying to find ways to repay the hitherto hidden liabilities, about 60 percent of which were foreign, by either raising taxes or reducing spending, he told a news conference.

    “When we took over the economy we knew it was an absolute disaster but we never knew information would be concealed to this extent. This became known only when we took office,” he said.

    “Even the International Monetary Fund did not know about these liabilities and has accepted that they were deceived by the former regime,” Karunanayake said.

    “We are trying to repay this debt without imposing more burdens on the people,” he said. “We can do it by attracting more foreign direct investment, liberalising the economy and by repositioning Sri Lanka and integrating the country with the global economy.”

    The IMF will send a forensic team to probe the hidden liabilities.

    Most of the hidden government spending had been incurred in 2013, he said. Details would be given to the Cabinet of ministers and parliament, Karunanayake said.

    It is not clear whether Karunanayake was referring to loans taken by state agencies under Treasury guarantees. At least one agency, Road Development Authority has no revenue of its own. Data already in the public domain show 564 billion rupees worth loans taken by various state agencies under Treaury guarantee from local and foreign lenders.

    Karunanayake held key figures of the former regime responsible for incurring the hidden debt most of which involved deals without calling for competitive tenders or going through the normal procurement process.

    They are former president Mahinda Rajapaksa as finance minister, his brother Basil who was economic development minister, defence ministry secretary Gotabaya Rajapaksa, the president’s son parliamentarian Namal Rajapaksa, Treasury Secretary P. B. Jayasundara and central bank governor Ajith Nivard Cabraal.(Colombo/March01/2016)
    sashimaal
    sashimaal
    Top contributor
    Top contributor


    Posts : 5785
    Join date : 2014-02-28

    Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime Empty Re: Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime

    Post by sashimaal Tue Mar 01, 2016 10:01 am

    RK saying these things now is joke. We could have given him the first 6 months for speeches like this...not now.
    blacknights
    blacknights


    Posts : 267
    Join date : 2014-08-28

    Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime Empty Re: Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime

    Post by blacknights Tue Mar 01, 2016 10:35 am

    sashimaal wrote:RK saying these things now is joke. We could have given him the first 6 months for speeches like this...not now.

    Agreed
    slstock
    slstock
    Veteran
    Veteran


    Posts : 6216
    Join date : 2014-06-12

    Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime Empty Re: Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime

    Post by slstock Tue Mar 01, 2016 10:43 am

    RK been a big wig and a person with deep pockets , could influence the party for important posts. I presume that is the main reason he was given the FM. ( right or wrong politics will be politics)

    But at this rate I see he is slowly digging his own well if he keeps going on with 101 stories that did not realize and does not help to fix issues.

    There is this story about the wolf and sheep header boy.


    Some actions needs to take place ..soon. Else natural forces ( maybe in the form of internal pressure , people pressure, IMF pressure etc ) will come to play to replace the post by his own accord.
    avatar
    guruji


    Posts : 602
    Join date : 2015-04-27

    Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime Empty Re: Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime

    Post by guruji Tue Mar 01, 2016 11:32 am

    Where is mrs hidden money ask him to bring it back and pay liabilites,,
    If we collect all ministers undeclared wealth we can pay that ,

    Its the only way country forward
    avatar
    yellow knife
    Top contributor
    Top contributor


    Posts : 6980
    Join date : 2014-03-27

    Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime Empty Re: Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime

    Post by yellow knife Tue Mar 01, 2016 12:49 pm

    The IMF will send a forensic team to probe the hidden liabilities

    So we believe IMF has the panacea for all our economic illness...

    Let me quote from page 166 of How Asia Works ?

    Thailand suffered the worst initial economic contraction of any country in east Asia. As soon as the IMF was called in, it insisted the government imbibe a drought of anti-spend thrift , anti-inflationary medicine it developed in Latin America in the 1980s. Since Thailand did not have a problem with inflated government budgets, expenditure cuts of around 1/5th and tax rises sent the economy into tailspin, contracting 14% of currency terms between 1996 and 1998. And the closure of 56 out of 91 NBFI institutions in 1997 left both good and bad borrowers without access to working capital . The IMF did not understood what is going on. Part of the problem was the agent need to come to terms with what a mess its a ' star pupil"  was really in. The Fund's prediction for Thai economic growth in 1998 shifted from 3.5% just after the crisis broke in August to -7% a year later, a reflection of how little the institution really knew about the country..

    Sri Lanka says uncovers Rs1.1 trillion hidden liabilities of Rajapaksa regime The-social-impact-of-the-asian-crisis-5-638

      Current date/time is Sun Jul 14, 2024 10:40 am