Basil blames Treasury bond issue for interest rate hike

Basil blames Treasury bond issue for interest rate hike

October 6, 2016   05:23 pm

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Owing to the controversial Treasury bond issue, interest rates in Sri Lanka have started to go up, former Minister Basil Rajapaksa says.


He expressed this view while speaking at a press conference held in Colombo this afternoon (06).


He pointed out that interest rates have increased to 12.35 per cent from 6.2 per cent within a year after the new government came into the power.


“This includes interest rates relating to housing loans, bank loans and gold pawning rates,” the former Minister added.


He went on to say the controversial Treasury bond issue has resulted in a loss of Rs.5200 million annually as well.


“Sri Lanka secured Rs.1600 millions in foreign investments mainly during the term of the former government, now it has decreased to Rs.900 millions,” he charged.

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