 "Gotabaya Rajapaksa, Mahinda")
Sri Lanka's Supreme Court has ordered the Auditor General to investigate into the reasons for economic crisis the country is going through in a case filed against former President Gotabaya Rajapaksa and his two brothers -- former Prime Minister Mahinda Rajapaksa and former Finance Minister Basil Rajapaksa.
Granting leave to proceed for the fundamental rights petition filed by academics and civil rights activists, the five-judge bench ordered the country's Auditor General on Friday to conduct an audit inquiry on the reasons for not seeking International Monetary Fund (IMF) assistance early when the country was facing a worst-ever economic
crisis and the decision to settle the sovereign bond of $500 million in January this
year using the existing limited foreign reserves.
The court also directed the Auditor General to investigate on the decision made by the Monetary Board artificially manipulate exchange rates and set the value of the Sri Lankan rupee at Rs 203 against the US Dollar.
The Court also directed the Central Bank Governor to produce copies of all communications and recommendations shared between the then President Gotabaya, Prime Minister Mahinda and Finance Minister Basil, the Cabinet of Ministers, the Monetary Board of Sri Lanka, former Governors of the Central Bank and the Central Bank.
More From This Section
The petitioners have requested the court to take necessary action to find out the causes of the economic crisis the country is going through and find people responsible for it.
The Indian Ocean island is going through its worst-ever economic crisis since its independence from the British colony 74 years ago and uncontrollable inflation, and dollar crunch has forced shortages in all essentials, including food, fuel, medicine and electricity.
--IANS
susitha/khz/
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
