Pivithura Hela Urumaya leader and lawyer Udaya Gammanpila stated that the government has borrowed Rs. 5,156 billion in the five and a half months since coming to power. He emphasized that it is the government’s responsibility to disclose how these funds have been utilized.
Speaking at a press conference held at the Pivithura Hela Urumaya party headquarters today (10), Gammanpila expressed concerns over the country’s economic management. He pointed out that Sri Lanka’s ongoing economic crisis was caused by the inability to repay past loans, and therefore, transparency regarding new borrowing is crucial.
He further stated that when presenting the budget speech, the President failed to disclose the amount borrowed by the Malima government, leaving it to the opposition to reveal the figures.
“As of March 5, 2025, that is, five and a half months after the government was formed, the total amount of loans obtained stands at Rs. 5,156 baillion (515,600 crore rupees). The revenue collected by the government in 2024 was Rs. 4,000 billion, but in just five and a half months, it has borrowed more than that,” Gammanpila said.
According to him, the breakdown of these loans is as follows:
- Rs. 3,775 billion obtained through treasury bills
- Rs. 1,063 billion raised via treasury bonds
- Rs. 318 billion (USD 1,084 million) borrowed from the World Bank, Asian Development Bank, and IMF
In addition to these, Gammanpila noted that the government may have obtained overdraft facilities from the Bank of Ceylon and People’s Bank, but there is no official information available on this. He also suggested that a significant portion of these loans may have been used to repay previously issued treasury bills and bonds, further obscuring how the funds have been spent.
He stressed that it is the government’s duty to provide a clear explanation to the public on how these borrowed funds have been utilized.
