CB to study debt levels among North and East Tamils

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By admin May 19, 2017 22:16

The Central Bank (CB) will study the growing indebtedness in Tamil-majority north and east, its Governor Indrajit Coomaraswamy said according to The Hindu newspaper.

“We are concerned about the rise in household debt,” the Governor said, referring to a prevalent post-war challenge facing families that are rebuilding their lives. Following the study and its analysis, the apex institution will take necessary steps, Dr. Coomaraswamy told Colombo-based foreign correspondents.

After Sri Lanka’s civil war ended in May 2009, scores of displaced families who returned to their hometowns are struggling to piece their lives together. While the community suffered enormous losses for three decades, those resettling are grappling with few jobs, means to livelihood and often resort to heavy borrowing.

A recent report of the central bank pointed to high levels of poverty in the Northern and Eastern provinces.

Also, Sri Lanka is experiencing a drought that has badly hit the agriculture sector, a key economic driver in the north.

If the drought continued throughout the year, the country may have to import food and fuel worth an additional $800 million, senior Central Bank officials said. With likely rain and a falling inflation rate, the economy would pick up by the end of the year, they said.

Dr. Coomaraswamy said that if the island nation could deepen the Free Trade Agreement with India — the neighbours are currently negotiating an Economic and Technological Cooperation Agreement — and ink similar deals with China and Singapore, it would have preferential access to a market of 3 billion people. That would include China, India, Pakistan, Singapore and Europe.

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By admin May 19, 2017 22:16
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1 Comment

  1. Ranjith Ganawaradana May 21, 04:20

    Central Bank Governor is not an appoimment for the aim of seek only that an issues the debit of Tamils of North-eastern ,he have to think that as the is a represented the whole country.

    We have to have survey on whole country that house-hold debt is more important that during 30 years War launch by LTTE-TNA & Diasporas of Tamils.

    Majority of community had been victims by Tamil-Terrorist war footing politics. The majority people been economically debt by LTTE attacks in rural Ares of North- Central, north-west and deep south.
    The current CB governor want show the world, that only north-and eastern Tamil are only race victimizes of LTEE led ruthless war back by TNA and Tamil Diasporas.
    That is one side story of the Tamil version of Eealm advocated by current CB governor.

    This key issues of current CB governor is confined to Tamils debt his negative approach ;and ex-CB governor who looted billons of rupees of CB scam bond by inside trading govt. of CB bonds .
    The ex-CB governor are at free of all charges he is at large .
    The ex-CB governor above the law of land of that Bond scam by looted tax payers billions of Rupees by ex-CB governor.

    Both governors of CB are same boat.

    I am an opinion wish that CB governor has certain links to LTTE Terrorism. While current CB governor is not that suitable to position of Governor—CB .

    Current CB governor should sack immediate effect. His past track record has link to Tamil Terrorism to LTTE?

    All CB governors are most corrupted elements who want ruin Central Bank under UNP regime in political power?

    Since 2015 January 9th under UNP regime of politics led by MS of new UNP leader?

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