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Govt. thanks international community for bond success
Friday, 19 October 2007 - 12:04 PM SL Time
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The Government yesterday extended a huge `thank you` to the International community and banks for helping raise US dollars 1.5 billion responding to the bond issue.
Cabinet spokesman Minister Anura Priyadharshana Yapa said this demonstrated the trust the placed in the Government`s economic policies by the global financial community.
`We feel sorry for the failed anti patriotic campaign carried out by the Opposition Leader,` Minister Yapa said.
Addressing the weekly Cabinet press briefing at the Government Information Department Auditorium yesterday Minister Yapa said that the international community granted more funds than requested by the Government because of the faith in the Government`s economic policy and its ability in settling the loan.
The international community has completely ignored the Opposition Leader`s protests.
Earlier, the Opposition Leader campaigned around the world asking the international community and banks not to grant loans to the Sri Lankan Government. This is something that is unbecoming of an Opposition Leader in any country because it is a campaign against the development of the country and its people and not against the Government.
The campaign carried out by the Opposition Leader was based on sheer jealousy. `At least now he has to understand that politics cannot be done by boasts alone. He threatened the HSBC informing that if the UNP come into power his Government will not pay a single cent of the loan`.
The telecommunication sector has recorded a 20 per cent growth rate. The Government has planned to obtain a 10 percent economic growth rate within next 5-10 years.
The Government has already commenced a large number of giant development programmes such as the Hambantota Harbour Project, Maga Neguma, Gama Neguma, Eastern Development Programme etc and has planned many more similar development projects to be implemented in the near future.
It has also increased public sector salaries by a significant amount. The Government has also provided a large number of jobs.
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SAMPERERA
Joined: Oct 2007
Posts: 71
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 19 Oct 2007 05:42:28 GMT Report for Abuse
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IT is not the government but the private sector success that create rewards for the country.
Most of the governments disturbs and restricted the private sector in sri lanka,creating negative results for economic prosperity.
Today's positive results of sri lankan economic progress is a results of private sector investments and peoples hard work.
That's the result of international community helps.
Government must make efforts now to privatise all government run corrupt enterprises as soon as possible to get rid of stealers,cheaters associated with government.
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Magnum357
Joined: Oct 2007
Posts: 320
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 19 Oct 2007 05:47:01 GMT Report for Abuse
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Thanking the IC for getting already debt ridden Sri Lanka into more debt. No one but the politicians will benefit from the money.
Edited By - Magnum357 - 19 Oct 2007 05:47:45 GMT |
raigamakolla
Joined: Dec 2006
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 19 Oct 2007 07:38:08 GMT Report for Abuse
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The Government yesterday extended a huge 'thank you' to the International community and banks for helping raise US dollars 1.5 billion responding to the bond issue
This is a very sad and a shameful moment for slanka in its 2500 years of history.
This kind of money at 17.5%% interest p.a. in forex is a huge financial monster which will eat into all financial resources of Slanka for the next 200 years to come.
This is not sustainable. The future generations will curse and curse and curse the present generation for this crime.
The present government represented by the present generation should have earned this kind of money, which I am sure Slanka is capable of with right policies and correct economic management, instead of putting the country under a huge strain.
This is the fundamental difference in economic management between SLFP/JVP and UNP. UNP believes in economic expansion and earning forex rather than borrowing and wasting it.
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freedom1
Joined: Jun 2007
Posts: 1859
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 19 Oct 2007 08:02:13 GMT Report for Abuse
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Those USD 175 million for the Weerawila airport project are a total waste and unlikely to generate even the interest rates.
..... Because JV.P---s don't know even what is meant by 'Economic Management' ....
JVP is madly into printing money in order to push the inflation rate above 20%. Perhaps their members have already transfered all their wealth into Euro so that increasing the inflation rate will also increase their personal wealth.
Smart, isn't it :-)
Edited By - freedom1 - 19 Oct 2007 08:08:07 GMT |
Nothing2lose
Joined: Oct 2007
Posts: 2
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 19 Oct 2007 15:20:13 GMT Report for Abuse
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I have seen lot of eggheads here. I have seen lot of comments that they can do anything in Sri Lanka. But put in to practice is very difficult.
There are lot of theories, method, systems and technologies. Problem is no one can apply them in to our country. If govt brings something good our community against.
We are paying road tax, Mot, to UK govt(I'm in UK). But if you apply them in to Sri Lanka no one will pay that. This is the problem. I think we need to change people sooner than later. We need to support our country and govt. Otherwise whoever comes to main chair will earn more money.
I think Runil Should give up now. He should give opposition leader to Sajith or some one who can run the country.
Thank You very Much
Good Luck Sri Lanka |
anizam
Senior Member
Joined: Mar 2005
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 19 Oct 2007 15:27:51 GMT Report for Abuse
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There is ONLY ONE comparison that needs to be made about this loan.
Form the daily news about the Loan from China..Interest rate is 0.9%
http://www.dailynews.lk/2007/10/19/news16.asp
Cabinet approval has been granted for the Hambantota port development project with a buyer?s credit facility of US $ 307 million opened with the Exim Bank, China.
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The interest rate will be 0.9 per cent, the Minister said.
And this loan on international markets.. at 8.5%
http://www.hindustantimes.com/StoryPage/StoryPage.aspx?id=320a3720-d9de-4265-aeeb-79ec3ac2ca4b&&Headline=Lanka+trumpets+over-subscription+of+bond%2c+but+experts+decry
'The bond carries 8.5% interest over a five year period which is the costliest loan that the Sri Lankan state has ever taken in its history. The subscribers have got a very good deal even as it shows how desperate the government has been to get money,' Dr Harsha de Silva of the Colombo-based think tank LIRNE ASIA told Hindustan Times.
The BTTER ECONOMIC MANGEMENT SKILLS OF Sri Rohana PUNNAKKU RALA!! :) :) |
Ramz
Joined: Jul 2007
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 19 Oct 2007 22:19:00 GMT Report for Abuse
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Not JVPs fooled by Mr. chintana...whole island is totally fooled.......at this rate of interest on the loan....we will suffer more and more in the near future....
even if the money is utilized for the public welfare...we can accept the loan...but already 10% of the amount is gone to Mr. 10% by now.....half of it will go to mr. Sri Rohana Punnaku Gona.....the rest to be devided accordingly between the jumbo cabinet Burowo's.....finally, we people will adhere all the consequences...
Jaya Wewa |
cartoon
Joined: Sep 2006
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20 Oct 2007 16:49:33 GMT Report for Abuse
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Sri Lankans still must choose between the following:
1) the KEHI woman, SLFP that runs the economy to the ground.
2) the HOTU woman, UNP that runs the economy well but always does something akin to having a leaking nose.
3) the VESA woman, JVP that will sleep with anyone at anytime as long as it benefits them.
For those of you living in Sri Lanka, it has to be quite unbearable to go to bed with a woman who is too thin (SLFP) or always with a runny nose (UNP) or the prostitute (JVP) with the threat of getting a disease!
I feel for you guys.
Edited By - cartoon - 20 Oct 2007 16:50:14 GMT |
sidharth
Joined: Feb 2007
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 21 Oct 2007 06:27:48 GMT Report for Abuse
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| Till now only Pakistan bonds were attractive. This one has beaten Pakistan. Investors need better ROI. But end of the day - it is a loan taken at a high interest. Future generation will pay for it. |
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