Sri Lanka\u2019s economic and political stability has been affected due to infighting between President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe, former president Mahinda Rajapaksa claimed on Saturday.<\/p>\n
\u201cThis is because the president and prime minister are clashing. They clash in the open. As long as instability prevails no investor will come,\u201d Rajapaksa said.<\/p>\n
He was referring to the Sri Lankan rupee hitting an all-time low this week against the US dollar, reaching near the 170 mark. \u201cWhen we left the dollar was 131.40,\u201d the former president said.<\/p>\n
As a result of the rupee\u2019s depreciation, Sri Lanka\u2019s external debt had jumped, he said. \u201cIn 2014 the external debt was Rs 7,391 billion or 71 per cent of the GDP. Now it has risen to 87 per cent. Interest payment was Rs 443 billion and now it has risen to Rs 820 billion, almost doubled\u201d.<\/p>\n
Rajapaksa said if he was in power he would have better managed the currency issue. He charged that the government has run short of ideas as to how to manage the economy.<\/p>\n
\u201cHold elections and give us power we will show you how. I have proved myself before,\u201d he said.<\/p>\n
Finance Minister Mangala Samaraweera said earlier in the week that the government could have sold its reserves to defend the rupee if \u201cnot for the humongous Rajapaksa debt trap\u201d.<\/p>\n
He said the loan repayments both in 2019 and 2020 would be USD 4.5 billion each and 80 per cent of these are loans taken during Rajapaksa\u2019s term.<\/p>\n","protected":false},"excerpt":{"rendered":"
Sri Lanka\u2019s economic and political stability has been affected due to infighting between President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe, former president Mahinda Rajapaksa claimed on Saturday. \u201cThis is because the president and prime minister are clashing. They clash in the open. As long as instability prevails no investor will come,\u201d Rajapaksa said. He […]<\/p>\n","protected":false},"author":1,"featured_media":42797,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[87],"tags":[],"class_list":["post-42796","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"_links":{"self":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/42796","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/comments?post=42796"}],"version-history":[{"count":1,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/42796\/revisions"}],"predecessor-version":[{"id":42798,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/posts\/42796\/revisions\/42798"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media\/42797"}],"wp:attachment":[{"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/media?parent=42796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/categories?post=42796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blastingskyhawk.com\/english\/wp-json\/wp\/v2\/tags?post=42796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}