Finance Minister rejects comments by Chinese envoy

RaviFinance Minister, Ravi Karunanayake, today rejected the statement made by China’s Ambassador to Sri Lanka, stating that loans given by China to Sri Lanka was at a 2 percent interest rate.

Karunanayaka told journalists that if China had given loans at 2 percent, then Sri Lanka would only pay 2 percent.

“If he says they have not given loans with interests more than 2%, we are happy because we will only have to pay 2% then,” he said.

He further lashed out at the Ambassador stating, “I reject his statement. I am not the Chinese Finance Minister, I am the Sri Lankan Finance Minister.”

Karunanayake later told NIA that he will make a detailed statement on the remarks made by China’s Ambassador, Yi Xianliang, on Friday after studying the contents.

Xianliang, on Tuesday, in a rare press conference said it was unfair for Sri Lanka to term loans given by China’s EXIM Bank as ‘expensive’ and questioned the government as to why it had sought fresh loans from China if the interest rates were ‘too high’.

He said he had already spoken to Ravi Karunanayake, Sri Lanka’s Finance Minister over the issue. “I know he has criticized this issue many times, publicly. All the Chinese business people complain to the Chinese government as to why loans are given to other countries at 2 percent. For them it is atleast 5 percent. So this is really unfair for Sri Lanka to call these rates expensive,” the Ambassador said. (Colombo Gazette)

3 COMMENTS

  1. Minister Of Finance wording and talk that want to be more cautions, but he is intentionally that undermined and block an investment from by China of some reasons by the vested interest of few foreign powers.

    I advice this type of politics of Ravi Karunanayke that will harm between Trade and Investment of two nation and will be destroy our two nation good will as well.

    Ravi K…can never mind pointing fingers on China.
    But result of that is going to harm our capital market, Investment and Trade in the reciprocity.
    My position is , this;
    first looking for the priority of Nation Economic development .
    secondly safeguard ongoing large mega Projects was start by China.
    thirdly look at more Sri Lankan goods and services Export to world largest Consumer market in China.

    But his and their masters voice of foul mouth will be badly impact of ours largest direct investments from China.
    Ravi R…of UNP politics has not responsibility of the keep national interest, but his agenda is always personal interest come first.

    I really condemned Ravi R has no right to an openly critized Govt .of China whatever reasons .

    We are in path of development ,ours democracy want prosperity and well being of live majority of people of Sri Lankan.

    We want good relationship with every countries that including People’s Republic of China is one of ours priority nation.
    PRC never put terms and conditions against US on
    the so-called ‘war crime’ and ‘human rights’ like western nation did in IMF, WB, ADB and EU so-called GSP Plus of Trade with Sri lanka.

    We are free to decided loans , aids, grants and investment from PRC by our own national sovereignty.
    We have every right to safeguard ours nation building, the line of politics and our path and model by ourselves.
    That I call is ours sustsnibility of path of economic development of Capitalism.

    What else Ravi R..do you want more than from PRC?.

    Ravi R is not that rational politician of UNP, that he is working on myth of politics of dream of 19th century colonial era.

  2. Finance Minister must verify whether some Officials are showing a bloated interest rate in Ministry records and thereby committing an unseen foreign exchange crime.

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