15 July, 2020

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MR Dodges Media Queries On How To Prevent Depreciation Of Rupee

Former President Mahinda Rajapaksa, who, at one point, was the Finance Minister of his own government, dodged media queries on how he proposed to resolve the issue of depreciation of Sri Lankan currency.

“We will resolve it when we get power. Ask them to give us power and see, “Rajapaksa said, flippantly, when media asked him to explain his mechanism to control or prevent depreciation, during a press conference held in Colombo.

Rajapaksa spoke to reporters as the Sri Lankan currency hit as low as Rs.170 against the US dollar for the first time in history. Currency depreciation is experienced in many parts of the world as the US has taken measures to strengthen the US Dollar through its trade policy.

When the issue of depreciation of Sri Lankan currency was first raised by media, the former President paused for about a minute, before answering.

During this break, the former Central Bank Governor, Ajith Nivaad Cabraal, who sat behind Rajapaksa at the press conference, was seen whispering in his ears.

It was clear to the audience that the former Central Bank Governor, now a critique of the current government’s economic policy, was prepping former President Rajapaksa to answer the question.

Upon Cabraal’s consultation, Rajapaksa gave a brief answer to the question, saying the government should make necessary interventions to strengthen the currency and prevent further appreciation of the Sri Lankan rupee.

Rajapaksa said the current state of affairs reflected the government’s inability to handle the country’s economy.

It was at this point that a journalist asked how the former President proposed the government to go about it. (By Tilini Rajapakse)

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Latest comments

  • 3
    3

    This shows what a dumb idiot he is (Rajapakse) when it comes to economy. Soon after he became the Finance Minister value of a Rupee depreciated from Rs. 113 to Rs. 140 against US Dollar within three months. His Goldfish memory has gone to the next level. What a a curse this bloody family to our beloved country!!

  • 0
    0

    What I think that MR is more moderate than RW of UNP polices of Economy has ruin our nation last 48 months. In spite of that RW of UNP policies has grave risky of Development nation Growth by Ranil W…CB Bond scam.

    Needless to say, UNP leader of RW was/still main culprit of CB Bond scam his direct involvement of such large scale FRAUD an accountability is the result of present mess-up has been created Economic uncertainties of Fiscal and monetary polices.
    In between development corridor and CB interest RATE has shot by CB bond scandal 2015 February and same year September. been DEVLUED RUPPE CURRENCY.
    It has pave path of devalued RUPPE currency not now but that very beginning of year 2015 January 8th.
    I have observed current policies of UNP +SLFP+TNA + JVP by ruling governance of UNP-SLFP alliance and official minority Opposition parties were
    anti-establishment political out-fits (of TNA + LTTE+ JVP) have jointly undermined Growth and Development of GDP of Sri lanka…last 4 years..

    This was main root cause of ongoing devalued of Rupee currency. We have real data of Economy growth and People hardships has reveled undoubtedly country has gone many years backward by leaders of rules and ruin by RW, MS and CBK.

    Well mismanaging People aspiration by corrupted rule of UNP leadership of Ranil Wickrasinghe has dodge key issues and unaddressed crisis-solution from time to time.

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