Scholars are revealing the extent of the grievous abyss the country has been dragged to even before the Ranil-Pohottu regime finishes its campaign to declare that the country has been freed from bankruptcy.
Professor Wasantha Athukorala of Peradeniya University’s Department of Economics has revealed that in the last 22 days of this month, Rs. 1127140 million has been borrowed locally. Of these borrowings, Rs. 861400 million has been taken from treasury bills, and Rs. 39,0750 million has been obtained from treasury bonds.
The country was declared free from bankruptcy on March 21, 2023, with the approval of the loan from the IMF, and it was declared for the second time after signing agreements with international creditors on the 26th of this month. What has actually happened is only getting time to repay the loan instalments and interest from the year 2028.
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