• Alleges move could have been a conspiracy

The Micro, Small and Medium Enterprises (MSME) Chamber raised concerns about the decision made by Central Bank Governor Dr. Nandalal Weerasinghe to announce the country’s bankruptcy, suggesting there may be suspicion of a possible conspiracy.

Speaking to the media yesterday (22), MSME Chamber Media Spokesperson Susantha Liyanarachchi said that the decision to declare bankruptcy had created numerous problems for MSMEs amid the ongoing economic crisis, particularly in relation to the burden of loan repayments. He further stated that Dr. Weerasinghe appeared to have rushed the decision, claiming that he had held the same opinion even a decade ago. “Even in 2012, he (the Governor) expressed that we (Sri Lanka) should approach the International Monetary Fund (IMF). There was no crisis in 2012. So, there is reasonable suspicion,” he said.

He also criticised the Central Bank for not taking an active role in resolving issues related to the implementation of the Parate Law, especially as the moratorium or grace period is set to end this month. “At the end of this month, banks will gain the authority to make decisions regarding loans. As we see it, banks are neither flexible nor sensitive to these matters. At this time, we need a directive from the CBSL Governor. We do not need circulars,” he said.

Liyanarachchi also claimed that the Secretary to the Ministry of Finance, Dr. Mahinda Siriwardena, who is set to retire soon, has been nominated for a position at the Asian Development Bank (ADB), a post that Sri Lanka has received after 17 years. He alleged that Dr. Siriwardena had delayed the appointment of another officer and had convinced the President to appoint himself to the position after retirement. He added that such positions should be given to younger and more experienced officers in the Ministry of Finance, rather than to a senior officer like Dr. Siriwardena who had already achieved the top position of his career.