US Treasury expert helps Sri Lanka to improve public bond auctions: PM

Nov 30, 2017 (LBO) – Prime Minister told Parliament Thursday that an expert of the United States Treasury Department is helping them to create a more transparent public bond auction system in Sri Lanka. Making a statement after appearing in bond commission, Premier Ranil Wickremesinghe reiterated that in order to achieve more transparency the raising of funds by way of public auction was preferable to the private placement method.

Wickremesinghe said large amount of funds were obtained through private bond placements during the previous regime without a specific Monetary Board decision.

He added that once the bond commission concluded its investigation, he intends to start investigations into the transactions prior to 2015. Accordingly, investigations will be carried out with regard to the loans taken by the previous government without informing Parliament and scams reported in the stock market.