Professor Wasantha Athukorala of the Department of Economics at the University of Peradeniya states that it is a matter of serious concern that the Secretary to the Ministry of Finance did not immediately inform the President or Parliament after information regarding the alleged misappropriation of funds in the Treasury came to light. Sri Lanka Latest News
As highlighted by the professor, several key issues exist within the country’s financial system.
Deficiencies in the debt data system
Although the International Monetary Fund (IMF) intervened and established a formal data system for loans obtained since 2021, the absence of proper records regarding loans obtained by Sri Lanka prior to that period, including how they were repaid, remains a serious weakness in the financial system.
Suspicion over past financial transactions
The professor further stresses the importance of an immediate investigation into whether similar financial irregularities or misappropriation of funds occurred in the settlement of foreign loan installments prior to 2021, in addition to the recently revealed incident.
He also notes that responsible officials are expected to act promptly in such situations to safeguard financial discipline and transparency. His statement further suggests that public confidence in financial governance has been undermined due to the alleged concealment of information in this case.
