Former Deputy Leader of the United National Party and Parliamentarian Ravi Karunanayake said that while the current government has repeatedly claimed it has not taken loans during its tenure, it should also acknowledge the real reason behind this.
Speaking in Parliament on the country’s debt burden, the MP said that the government has not taken new loans not because of policy strength, but because no lender is willing to extend credit. He noted that no party would come forward to provide loans to a country that has declared bankruptcy.
Ravi Karunanayake made these remarks in response to a statement by Minister Anil Jayantha concerning borrowing during the period when the United National Party was in power.
In reply, Minister Anil Jayantha said that the government is currently servicing its obligations under the debt restructuring programme and that the payment of outstanding interest has become a necessary expenditure for the present administration.
