Parliament must receive timely updates regarding loans – Ranil

Former Prime Minister Ranil Wickremesinghe has requested the government to submit to Parliament details regarding loans and debt servicing on a monthly basis.

Speaking in Parliament today, former Prime Minister Wickremesinghe noted such details can be presented by the Committee on Public Finance on behalf of the government.

The Leader of the United National Party noted that according to Article 148 of the Constitution, Parliament has absolute financial powers and therefore it should receive all necessary details.

The former Premier said such details can be presented monthly on the first parliamentary week which can then be debated by MPs.

Former Prime Minister Ranil Wickremesinghe said it will prevent factions misinterpreting the state of the government’s finances.

The former Premier also said several claims have been made pertaining to foreign reserves of the country at present.

The former Prime Minister added that the government has been accused of citing funds received through swap agreements and Lines of Credit also as foreign reserves.

The former Premier said the government should differentiate such details and present a report to Parliament on a monthly basis.

Former Prime Minister Ranil Wickremesinghe added that some corners have indicated that the country’s foreign reserves is below USD 1 billion and requested the government to clarify the claim.

Separately, Former Prime Minister Ranil Wickremesinghe called for a debate on the report tabled by the International Monetary Fund on Sri Lanka.

The former Premier said the IMF Board of Directors will publish the consultation report based on the discussion with Sri Lanka later this month.

The former Premier requested the Speaker of House to facilitate a debate on the report.


(Except for the headline, this story, originally published by has not been edited by SLM staff)

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