Ravi to make another complaint against Cabraal

Thursday, 22 November 2012

UNP parliamentarian Ravi Karunanayake has complained to the Commission to Investigate Allegations of Bribery and Corruption that there was an irregular financial transaction behind Central bank Governor Ajith Nivard Cabraal’s move to invest monies in Greek Bonds resulting in a financial loss to Sri Lanka.

The Central Bank of Sri Lanka invests its monies in various bonds, but such actions are carried out only after studying the situation in the market conditions at the time.

The Central Bank had purchased Greek Bonds that were of a face value of 35,000,000 Euros in April 2011 and July 2011 at 26,267,000 Euros. The transaction however had taken place in an arbitrary manner without the Central Bank or the Governor making any study of the market conditions.

Karunanayake’s complaint states that the loss from the transaction stands at 803,500 Euros and it was caused due to the arbitrary actions of the Central Bank Governor. The parliamentarian states that the transaction has so far not been investigated by any institution.

Karunanayake has called on the Commission to investigate into the transaction since it is defined as a corrupt transaction and to initiate legal action against the Central Bank Governor. He has added that relevant statistics and details could be given to the Commission if an investigation is held.