14 June, 2021

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Over US $ 19,000 Million Pilfered Out Of Sri Lanka In 10 Years

A total of US $ 19,967 million has been pilfered out of Sri Lanka from 2004 to 2013.

According to the Global Financial Integrity’s ‘Illicit Financial Flows from Developing Countries: 2004-2013’ report, in 2011 alone US $ 4,602 million was moved out of Sri Lanka by various tax evaders including businessmen, and politicians.

MahindaAccording to the report, in 2004, US $ 1,487 million was moved out of Sri Lanka, while in 2005 the total amount pilfered was US $ 1,389 million and in 2006 it was US $ 1,554 million and US $ 1,890 million in 2007. The Global Financial Integrity, which is a non-profit, research, advisory, and advocacy organization located in Washington, D.C also disclosed that in 2008 the total amount pilfered out of Sri Lanka was US $ 1,655 million, while in 2009 it was US $ 1,435 million and in 2010 it stood at US $ 2,634 million , followed by US $ 4,602 million in 2011, US $ 1,567 million in 2012 and US $ 1,753 million in 2013.

Incidentally, the greater part of this period fell under former President Mahinda Rajapaksa’s rule.

The report also revealed that during the ten year period, the developing world as a whole lost US $ 7.8 trillion due to the money being pilfered out of their respective countries, of which Asia lost the highest at over US $ 3 trillion.

In the executive summary, the Global Financial Integrity said “The massive outflows of illicit capital shown in this study are likely to adversely impact domestic resource mobilization and hamper sustainable economic growth. As such, it is necessary to consider the role of illicit outflows in any discussion of the development equation. We should not only look at the volume of resources flowing into developing countries but also the illicit leakages of capital from the balance of payments and trade misinvoicing. Governments and international organizations must strengthen policy and increase cooperation to combat this scourge.”

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Latest comments

  • 8
    32

    This is Mangala samaraweera Camp’s propaganda.

    Mangala Samaraweera and CBK are Mahinda Rajapakase’s enemies. CBK doesn’t talk about those because she has done the same.

    Since before the election, Man-gal started talking about this, International Transprency NGO went all over the world to find that money, They said India helps and USA helps, Now Fonseca -list came out – where is that money ?

    • 17
      5

      If Mahinda Rajaakshe is honest to him, on this special day, he cant face the nation – his deliberate actions did waste billions of tax payers funds for not having proper management as it was due.

      Yesterday Presdient made it clear the way he acted as Secretary of the SLFP, together with Secreatry of UPFA at the time, British tourist murder was carried out by SLFP regional presid of tangalle – there the Rajaakshe family did not allow the case to be investigated in compliance with the lanken prevailing laws. Had Prince Charles been away from mediation, nothing would have gone that far to send the criminal in prison. Hethe kind of men deserves to be jailed for the rest of the life. Mahinda Rajakashe had never been exemplary during his second term. He paved the way criminals to get bred easily. I would not ask any tourists to roam at evenings in the country. Srilanka is still a dangerous place for human beings so long Rajapakshes and their men have the ground to act free.

  • 13
    3

    Sri lankan govt knows SL businesses which export goods don’t bring that money back.

  • 10
    0

    The present government should follow up on these reports with those who made the reports. Action must be taken if we want to correct his malpractice. The Global Financial Integrity should be called upon to disclose the details and a court case must be filed against the Global Financial Integrity Unit to compel them to disclose. If it is not possible to do so in our local courts then international advice should be sought how to proceed. The comments of the former President M.r should also be obtained by the authorities in the interests of the people.

  • 12
    4

    Srilanken Play boy turned former president/Kurunagala MP.

    The manner he wasted the sums as a minsiter of Finance is becoming clear to teh all but not to lanken authoriteis yet… Panama papers allowed Iceland PM to resign, if the authorities of the contry could clarrify and bring the evidence to prove that were from Mahinda Jarapakshe et al, no doubt he has to be resigned from lanken politics and be ready to march to the prison fo rthe rest of his life.

    Please authorities, give it a try and make it very clear about the mountains of dollars abused by Mahina Rajakshe with his key mediation.. so that we can close this capital soon.

    Truth shoudl finally be succeeded. Jay NIyathai.

  • 5
    1

    Offer reward in millions (US$)so that some one will come out with answer

    MR’s own people will come out with all the details.

    Offer 25 Million dollar and you will be surprised

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