Fleeing devil gobbles all

As President and Finance Minister, Ranil Wickremesinghe has taken a huge amount of loans, exceeding Rs. 410000 million, within the last three days.
According to the official announcements of the Central Bank of Sri Lanka, on the 11th, an amount exceeding Rs. 164760 million was raised through treasury bills; on the 12th, an amount exceeding Rs. 245960 million was raised through the issuance of treasury bonds, and on the 13th, another Rs. 50 million was obtained.. A huge amount of debt has been obtained from the local currency market.
Exorbitant interest of over 10% has to be paid for these loans.Interest rates have been fixed at 10.7% and 10.24% for treasury bills. A whopping 13.98% interest rate has to be paid on the Rs 245960 million obtained through treasury bonds.
In early 2015, when Ranil Wickramasinghe was in charge of the Central Bank, bond robbery was allowed to be committed by giving treasury bonds a high interest rate of 12.35%. At that time, the interest rate for treasury bonds in the financial market was fixed at 9.30%. Bandula Gunawardena revealed that the bond robbery caused a loss of 2,000 billion rupees to the country.
Meanwhile, at the end of 2023, the accounting reports given by the Auditor General to the annual report of the Ministry of Finance revealed that the interest payment for government loans had increased by 1,526% compared to 2006.
In 2006, the interest expense was 151 billion rupees, and in 2023, the figure had risen to 2,455 billion rupees. It was 79.73% of the government’s total revenue that year. Only 20% of the total revenue was left for all other government expenditures.

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