Tuesday, May 21, 2024

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Supreme Court meets petition against CBSL Chief who declared SL ‘bankrupt’

A group of civil activists has lodged a fundamental rights (FR) petition at the Supreme Court against several individuals including Governor of the Central Bank of Sri Lanka (CBSL), Dr. Nandalal Weerasinghe, challenging their declaration on Sri Lanka resorting to debt default making it officially a ‘bankrupt’ nation.

The petition was lodged by Trade Union Leader Ravi Kumudesh and Ven. Pahiyangala Ananda Sagara Thero, demanding that a verdict be made that the said declaration was made without authorisation and therefore, is unlawful.

CBSL Chief Weerasinghe, former Finance Minister Mohammed Ali Sabry, Secretary to the Ministry of Finance K.M.M. Siriwardena, the CBSL Monetary Board and the Attorney General have been cited as respondents, and the petition is said will be taken up for consideration before a special Supreme Court Bench tomorrow (10), correspondents said.

The petitioners demand the Supreme Court that an order be produced to take legal action against the respondents, whose conduct towards this declaration was revealed to have been made without proper approval of the Cabinet and Parliament, for violating the fundamental rights of the people of Sri Lanka.

The petitioners also urge that the said respondents may be directed to take other measures to restore the said fundamental rights, were they proven to be violated.

The declaration on Sri Lanka being ‘bankrupt’ amidst the possibility of receiving a pre-disclosed amount of dollars would be highly controversial and contributes to the ruination of the island nation’s clean record of debt repayment, making it a severe blow in the head against the Government of Sri Lanka, the petitioners pointed out.


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