16 January, 2022

Blog

Lest You Forget Your Commitments & Accountability Mr. President!

By Chandra Jayaratne

Chandra Jayaratne

You committed in the oath of office to comply with your duties and responsibilities as President in an honest manner and as per the Constitution and the Law of the Country.

The Constitution you agreed to safeguard and follow states that “in the Republic of Sri Lanka sovereignty is in the People and is inalienable; and that the executive power of the People shall be exercised by the President of the Republic elected by the People”. Thereby it becomes your inalienable duty to safeguard and protect the interests of all the people of Sri Lanka.

You created a Social Contract with the people in terms of your manifesto, to deliver a ‘Reconstructed Country with a Future’ by following inter alia, a ‘People Centric Economy’ and assuring a ‘Productive Citizen and a Happy Family”.

In your first address to the nation, you stated that Buddhist Philosophy is embedded in you and your thinking; and that you will protect and nourish it. Trust You accept that “Dharma” in the doctrine of Buddhism, is the universal truth common to all individuals at all times and is based on the core concept of ‘cause and effect’ and thus You will commit to ‘uphold in governance the principles of wisdom, kindness, patience, generosity and compassion’ as important virtues and be guided in governance by the following:

* Mahaparinibbana-sutta –Let the Dharma and the discipline that I have taught you be your teacher’.

* Maha Mangala Sutta – ‘to associate with and be guided by the wise, well versed professionals’

* Chulla Hatti Padopama Sutta (the first discourse of Arahat Mahinda) – ‘Seek the cause of the problem and resolve it and not be guided by the symptom or perceptions of it’

* The message of Arahath Mahinda to King DevanampiyatissaThe land belongs to the people and all living beings; thou art only the guardian of it”

You are also committed to the values embedded in you at Ananda; and follow the school motto “without delay” and will ensure governing actions being appropriate and timely.

As an officer cadet first and later as a high ranking Commanding Officer of the Sri Lanka Army, Gajaba Regiment, you live by the core values of:

* Commitment to the Fatherland/Motherland

* Loyalty, Duty, Respect, Selfless Service, Honor, Integrity, and Personal Courage

* Unity is Strength

As a Professional you are committed to the Core values of:

* ‘Know and do what is right’

* ‘Treating others the way you want to be treated’.

* ‘Embrace opportunities to contribute’.

* ‘Bring your best to all competition’.

* Servant Leadership. ‘Serve the common good’

We the citizens of Sri Lanka remain hopeful that you will live by the above commitments and will definitely not permit the implementation of the proposal of the Governor of the Central Bank and the Secretary to the Treasury to implement the ill advised, misguided and reckless decision to make payment to the International Sovereign Bond holders of US Dollars 500 million on the 18th of January 2022, ignoring the priority, essential and urgent needs of citizens, farmers, fishermen, SME’s, industries and business, for whose benefit these available scarce resources are required for the importation of food, medicine, fertilizer, petroleum, gas, raw materials, machinery, competitiveness assuring technology and essential services for value adding business entities.

We remain confident that you will duly recognize the possible adverse consequential outcomes of implementing the present proposal, including:

* Risks of socio political destabilization

* Possible angry public response actions once they realize that the state has released only minimal scarce amount of foreign exchange resources for them

for clearance of essential imports stuck in the port; and market shortages of flour, rice, milk powder, sugar and medicines continue

for importation of fuel and gas, especially if consequential power cuts are imposed and gas shortages continue

and have reserved the majority of the available resources for unknown foreign speculator investors

* the foolhardiness of settling long term debt obligations with short term cash flows, especially leveraging short term more expensive SWAPS and then being forced to soon borrow more in the short term to replace the current SWAP obligations

* the ISB maturity amount now to be settled is only around 10% of the total debt settlements due this year; any commitments now made settling in full maturity dues without resorting to a debt restructure will make future negotiations more challenging

* the unlikely that early replacement cash flows will materialize from tourism related sector operations; and in any event such net flows will certainly not match the USD 4 billion estimated

It is most unlikely that without a market determined real exchange rates being the basis, that short term incentive premiums based ‘carrot and stick’ approach based exchange rate management will bring forth the optimum export incomes, worker remittances and FDI

* Recognize that the proposed action can result in a further downgrade of sovereign ratings if the rating agencies deem that a default by mid 2022 is unavoidable;

* Using sale proceeds of valuable national assets and long term concessions in a rush, without competitive transparent bidding and best practice valuation methodologies being adopted, will scar the economy in the longer term

* Recognize the peril at which the stability and acceptance by international banking correspondents of the local banking and financial services are likely placed by forceful conversion of forex inflows and rolling over of ISB’s and SLDB’s

* Recognize the possible reactions of citizens, workers and foreign currency holders, if their hard earned savings are frozen or devalued by inflation

* Recognize the implications of differing the date of a forced default led debt restructure under duress; and the interim rise in cost of living due to high inflation consequent to money printing where more money chases smaller amount of available goods and services

Over to You Mr. President to lead by your Commitments.

Print Friendly, PDF & Email

Latest comments

  • 33
    2

    Thank you. More and more people are speaking up.

    • 13
      1

      He Came to power promising „ system change“.
      – Perhaps he performs it in his way – there is a saying in vernacular – ගොනා කියල මරන්නද ? kill the bull ?
      – Muruththettuwa Cheewaradhariwa was appointed as VC of UOC
      – The other CHeewaradhariya was appointed as VC to UOK
      – The controveral Cheevaradhariya of all times – Ghanasara was appointed to the committee „ one country one law „ which his sanity thought would be the best choice
      Even my dog would question, or become stand still – not being able to see where Gota-Baya had hidden for a period of 15 long years ( 365 x 15 days) unitl 2005.
      It cant be in the UNITED STATES OF AMERICA… right ?

    • 1
      0

      Dear Jaffna Man,
      .
      Sinhala_Man
      may not be adding much here. What I was writing on an article that you possibly ignored has taken so much of my time:
      .
      https://www.colombotelegraph.com/index.php/parliamentary-erudition-a-case-of-failed-guile/
      .
      It’s great to have people like Chandra Jayaratne as part of our society.
      .
      What has happened to the Jeevan Hoole book aimed at improving our English?

    • 2
      0

      The people are just talking and talking and more talking, only.
      No action, no lessons learnt, nothing new. Same old same old.
      Meanwhile Gota and Mara are busy scraping whatever is remaining….

      • 2
        0

        HT,
        .
        Good riddance I would say. – I am sorry for the poor of the poor – but I dont even think of the middle class people that were caught by their horns… Teachers, Engineers, University Prof and all spoke to me then – are dead silent today… Some of my own close relatives isolated me.
        .
        Two years ago, I warned my circles down there not once several dozens of times.
        .
        They ridicule out me, attacking me that I would work for a NGO
        .
        I warned them (a cross section of that island nation) that MEDAMULANA MURDERS would not bring any luck to srilankens but to their families.

        Irrespecitve my repeats, they voted for them and their henchmen.
        .
        If I bet, I would have won. Today everyone that challenged me then, scratch their ears/head not being able to undererstimate my forsightedness.
        .
        Some reminded me today – it is just that I dont live in SL, that may be the reason me to see it different. But GOTA also lived 15 years … 15 long years in the US….. whaht happened to his ?

  • 38
    2

    You appealing to a thug , their and a foble war criminal who can not understand anything but crimes.
    Only a tion is to lead the public to get 0n the road and send bunch of crooks home.
    It looks like inefficient are better than crooks. Atleast they might go to IMF and rescue the people from starvation and death

    • 1
      1

      Did Chandra Jayaratne recommended to Hitler Aanduwa to go to IMF for help? Did Hitler refused to take help from IMF, or the Cabinet refused? Do Jayaratne analyzing that? Jayaratne is nobody, but a family work for Royals in minster positions. Tell me something, would you give 49% of Oil Farm for 50 years to India and get out of black out permanently or not? What are you getting from China for generous gift of Hangbangtota port? Whipping of Penalties and Fines for every turn or move? The No.1 enemy of IMF or ETCA or some other useful deals or institution is Jayaratne. Jayaratne may now showing his anger the way Old King caught dada by his Amude. Did Jayaratne wrote anything about Old King when he was holding Hakeem’s Amude for Kumari? How can Jayaratne get angry with Royal Family now?
      No longer in Langkang, the kettle is just laughing at pot, that the pot is black. But kettle saves & protect the pot realizing that pot too is his class. They wash each other’s one time and recent at another time, but they all are pitch black.

    • 2
      1

      Now only Harsha and Eran are protesting against Thero Silva standing on the SJB platform and tearing down the Royal Family. Tell me something, where all the other 50 members of SJB until now when Valaiththodam appointed Thero De Silva as his washer, just because Thero was washing dada’s. There is no shame in these Viyathmaha dumbs. They have been walking on the Colombo streets with the king’s new dress, but now waking up as consultant for all other dumbs only when Ganapathi announced that there will be no power soon (, possibly even before the end of January. So far only I read from Hindunette asked how can the finance minister present a second budget for 2022, while the first is not yet implemented? It is a very, very complex issue. Everybody wanted relief elements in the budget. Now Moody’s is opposing the move with their explanation. How much of that Jayaratne is talking about? Is Jayaratne an accountant? Then who Hindunette is, an accountant to fearlessly oppose an additional relief package?
      If you don’t have a clear reply for these, then you can be enlightened by yourself at this time, how, for the last 72 years, the strange Species called Viyathmaha-s has been protecting or saving various Hitlers on the power.

  • 33
    2

    The lofty ideals enunciated in this essay to be followed as commitment and accountability would amount to throwing water on a Ducks Tail…………..

  • 35
    3

    Wow, interesting to know Sir has taken oath to comply with this many commitments. If anyone thought he has complied with just one please let me know. For that matter none of the politician from ruling party has complied with any one of them.

  • 31
    1

    I would like to ask the people of Sri Lanka to think rationally as human beings what do you expect from the head of the government. You have had almost 75 years of experience about the governments in this islands elected by you. What did you learn and what experience you had during this period? Have you made any mistakes or errors in finding the correct government? You gave all the powers to do their duty? Did they misuse their power? What did you do to stop the misuse of power?
    Think Rationally as human and forget about your race, language, religion, and gender.

    • 32
      2

      There is a large percentage of Sri Lankans who cannot think rationally.

      The Rajapaksa regime were not the unknown quantity, every one knew jolly well that they were corrupt to the hilt, incompetent, have made terrible decisions like building good for nothing airports and harbors, and that they followed that ugly practice of nepotism, the last time over 200 members of this corrupt family in the administration, each one scratching the other’s large behinds. They were also known for silencing the media, killing journalists who criticized them, and many murders and kidnappings unaccountable for. That is why they were voted out of office by the country.

      Yet they voted for these criminals again, because this man kept the streets clean, and an “convenient” set of bomb explosions on Easter day, made him the front runner. Ranil and Sirisena played their shameful part in helping them return to power again.

      “Insanity is doing the same thing over and over again and expecting different results.”

  • 30
    1

    To the author,
    I have enjoyed reading your articles in the Colombo Telegraph – many of them.
    Wonder if Sri Lankans really have any option other than honouring the ISB obligations.
    Sri Lanka will not be able to raise money again at realistic rates.
    Sri Lanka is not part of any currency union (EU) and bond holders will not take a haircut. This is effectively a default on the sovereign debt obligations.
    Sri Lanka would have to rely upon either China or India.
    EU and the USA will direct Sri Lanka to IMF.
    Remember, what Greece experienced where the EU (led by Germany) refused to allow ECB to issue common Euro bonds. Such debt obligations would have become the responsibility of the EURO bloc.
    I agree with you that the rupee should be floated to encourage remittances (particularly from the Middle East).
    Wonder if Sri Lankans have got used to a high standard of living (since 1977!) with borrowed money, remittances and tourism.
    My colleagues in Colombo tell me that one could still buy Norwegian salmon!

    • 2
      1

      They were negotiating at the same time with India, China and the IMF (Last three months- started just a little before the budget – that is still going on). Then they were lying all about it to all, mainly because they don’t want the other to know what they are talking with one party (fair). They dropped the IMF first because there is a real war going to break out in the land by scarcity. So they introduced the relief package; in that condition there was no point in wasting time with the IMF, with that kind of action. Here is the dilemma, theirs the first option Pari Demulo is fully exploited; Muslim Thambia exhausted, so no ME country is extending their hand; IMF is gone with the wind; People not taking the excuse of Yahapalanaya, because they killed UNP & SLFP in the last election, to crown Hitler. Now who is left out for this shortage? Basil Fernando wrote the other day that a father, much smarter than the idiots in the government, was begging for a Papaya to feed his kids. Why not rice? Then where do you go for gas? Papaya is a fleshy fruit and may suppress the kids’ hunger. That was an oasis in the desert.

    • 0
      0

      Sunil,
      “My colleagues in Colombo tell me that one could still buy Norwegian salmon”
      Yes, I bought a heavily discounted salmon head out of curiosity. It looked and tasted just like the local “Kossa” mullet, except for the orange flesh. No big deal

  • 27
    1

    MR.JAYARATNE-You are preaching about budda dharama to the wrong people.
    GOTHAPAIYA-Day time budist and night time AMERICAN.
    MAHINDA-Day time budist and night time CATHOLIC AND PRAYING TO THIRUPATHY GOD IN DREAM.
    BASIL-DAY AND NIGHT TIME AMERICAN AND FAKE BUDDIST.
    THESE GUYS THREE TOGETHER TAKING 6.9 MILLION FAKE BUDDIST WHO ARE SLEEPING 24 HOURS FOR A RIDE IN THE NAME OF BUDDISAM.

  • 29
    4

    Dear Mr. Jayaratne
    Thanks for your wonderful article.
    You may the only Srilankan with a functioning memory.
    Most others whom, I know have a memory span of not more than 2 weeks.
    It is a good thing that you wrote this article at this time.
    NPP and co are ready with another set of such mumbo-jumbo which most people are falling over to endorse.
    I hope this will jolt everyone’s memory to help them realize that what our politicians say is just for the moment.
    This is the 73-year curse we have been suffering.

  • 18
    2

    Geeeze man! ……. You guys can write English!

    While you guys are trying to knock some sense into Gota ………. let me try and knock some sense into you ………… the Lankan pie-in-the-sky brigade ………..

    You are expecting turtles to grow feathers! ………. Please please please try and get this into your heads ……… the Rajapakses have no breeding, education, class or intelligence. They only posses deep-South cunning. They have no clue about good governance: wouldn’t know it even if it fell on their heads. They are running the country the only way they know how: this is what they have done all their lives.

    The Rajapakses are pure Mafia/Cosa-Nostra ……… Mahinda is the godfather, Gota is the enforcer, Basil is the bagman, Namal is the heir apparent idiot-son ………… pull out and watch Godfather Part 1 again.

    You might as well have walked into 1920’s Chicago …… reminded Al Capone of his blooming “commitments!”

    • 16
      2

      continued

      Do any of you good Einsteins realize that Gota is a serial-killer? ……… Do any of you realize that what you are doing is trying to sanitize a killer without holding him to account? Would you have sanitized Makandura Madusha? Charles Manson? Ted Bundy? ……… Why is Gota is special? ………. I don’t need the answer: you have to find it for yourselves ……..to knock some sense into yourselves …….. to redeem yourselves ……..

      You guys supported and elected a serial-killer …….. and now you are appealing to him! …….. Just cut the bloody crap, step back and observe: this is what is actually happening! Can things get any crazier?

      Even before Gota was elected, I told you how this is going to end. ….. Some of us have come to the end of the journey even before the journey began ……… and waiting for you to catch up ….. catch on …… while you take every wrong turn possible …….

      • 15
        2

        continued

        Ye have such faith, such belief …… in Lankan pols ….. that they would listen to you ……. thank your lucky stars you are not women …….. they would’ve made you pregnant with their sweet promises ………. 6.9 million times over ………

        Sometimes, it’s a blessing not to have an “education” …….. compels you to think ………….


        There is no future for Lanka, until each and every Rajapakse is dead and buried ………. and 22 million citizens are standing on their graves to make sure they won’t rise from the dead ……….

        Wanna bet?

        • 0
          0

          Nimal Fernando: You could make a mint by exploiting the authorship material that you possess. Do give it serious thought.

        • 0
          0

          Geeeze, nimal.
          .
          The fashion now is to write Sinhala:
          .
          https://www.colombotelegraph.com/index.php/uvindu-kurukulasuriya-7-january-2022/
          .
          See how many comments! The article is by the editor, Uvindu.

          .

  • 5
    0

    Gota is not sane. So he will not take your advice.

  • 5
    0

    Can anyone think that people who live within a “bubble” created by them, only for them, would ever care what happens outside the bubble, other than during the election campaign? No! Only during the campaign do they promise heaven and earth to the voters, once they win they have the audacity to openly admit what they said on a platform during the campaign is only a promise that was never intended to be delivered. When we have such politicians, who are so dishonest, how can we expect anything positive from them.

  • 0
    0

    Sunil,
    “My colleagues in Colombo tell me that one could still buy Norwegian salmon”
    Yes, I bought a heavily discounted salmon head out of curiosity. It looked and tasted just like the local “Kossa” mullet, except for the orange flesh. No big deal.

Leave A Comment

Comments should not exceed 200 words. Embedding external links and writing in capital letters are discouraged. Commenting is automatically disabled after 5 days and approval may take up to 24 hours. Please read our Comments Policy for further details. Your email address will not be published.