Dilith Jayaweera Raises Red Flag Over Dollar Liabilities Hidden in 'Domestic Funds' Expressway Plan

Sarvajana Balaya parliamentarian Dilith Jayaweera has sounded a sharp warning over the government's plan to build three new expressways beginning next year, questioning whether the so-called use of "domestic funds" truly shields Sri Lanka from foreign currency exposure.

The Concern at the Heart of the Debate

Jayaweera cautioned that despite official assurances that the expressway projects would be financed through local funding sources, there may be a concealed burden of dollar-denominated liabilities lurking beneath the surface of such arrangements. He argued that Sri Lankan taxpayers and policymakers must not be misled by the terminology used to describe how these large infrastructure projects are being funded.

The MP stressed that labelling financing as "domestic" does not automatically mean the country avoids exposure to foreign exchange risk, particularly when the underlying financial instruments or procurement processes may still carry hidden dollar obligations.

Infrastructure Ambitions Meet Financial Scrutiny

The government has announced plans to commence construction on three expressway projects from the coming year, presenting the initiative as a major step forward in upgrading Sri Lanka's national road network. However, Jayaweera's intervention has cast a shadow over those plans, urging greater transparency regarding the true financial structure behind the projects.

His warning comes at a particularly sensitive moment for Sri Lanka, as the country continues its recovery from a devastating economic crisis that saw it default on its foreign debt and exhaust its foreign reserves. In that context, any fresh exposure to dollar liabilities — whether open or concealed — carries significant implications for the nation's fragile fiscal health.

A Call for Transparency

Jayaweera's remarks reflect a growing demand among opposition legislators for the government to be fully transparent about the financial terms of major infrastructure commitments. Critics have previously raised concerns that large public works projects are sometimes presented to the public in favourable terms while the finer details reveal more complex and potentially risky financial arrangements.

• The government plans to construct three expressways starting next year.
• Officials have described the funding mechanism as drawing on domestic sources.
• MP Dilith Jayaweera argues hidden dollar liabilities may still exist within the plan.
• The warning comes amid Sri Lanka's ongoing post-crisis economic recovery.

As Sri Lanka works to restore investor confidence and stabilise its public finances, scrutiny of how major capital projects are structured and financed is expected to remain a key battleground between the government and opposition voices in parliament.

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