Going gung-ho over glaring gazette!

Finance Minister Ravi Karunanayake, Former President Mahinda Rajapaksa

• Gazette purportedly issued by Mahinda Rajapaksa seven days before 8 January 2015 election lists issuance of Rs. 1.8 trillion worth of Treasury bonds of different redemption periods at different interest rates
• Includes many bonds issued in the past at various interest rates since 2011 as well as seven new bonds for 2015 of Yahapalana regime
• Ravi K blasts Central Bank; says required protocol not followed 
• Claims relevant Treasury bonds gazetted were issued in violation of the provisions of the Registered Stock and Securities Ordinance
• Alleges MR regime’s CB Chief Cabraal raised money via questionable private placements of bonds; gazette in contention endeavours to legalise such issuance
• Mahinda issues firm rebuttal, says diabolical attempt by Yahapalana authorities to foist the blame for the CB bond scam on him
• Says not possible to have known back on 1 January 2015 borrowing requirements post-presidential election
• To pursue legal action over matter

Monday, 27 February 2017

A major battle has erupted between Finance Minister Ravi Karunanayake and former president Mahinda Rajapaksa over a 2015 January gazette by the Central Bank listing past and future Treasury bond issues with an aggregate value of a staggering Rs. 1.8 trillion.

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