COURT DIRECTS CABRAAL TO SUBMIT REPORT
The Colombo Fort Magistrate yesterday issued an order directing former Central Bank Governor Ajith Nivard Cabraal to submit a report in court within seven days. This is pertaining to the financial transactions regarding Sri Lanka’s bid to host the 2018 Commonwealth Games (CWG).
Magistrate Lanka Jayaratne made this order pursuant to a request made by FCID conducting investigations into the alleged irregularities that have taken place in the failed bidding process.
It was revealed that over Rs. 600 million funds deposited in a current account by CWG Hambantota 2018 Pvt. Ltd. for the purpose of bidding to host the Commonwealth Games in Hambantota had been spent without any trace of transactions.
The Financial Director of CWG Hambantota 2018 Pvt. Ltd. Mahinda Fernando was also ordered to submit a report in this regard within seven days.
The bidding process for the 2018 Commonwealth Games began on March 31, 2010.
Two bids for the 2018 Commonwealth Games were submitted. Gold Coast and Hambantota in Sri Lanka were the two bidding cities. On November 11, 2011, Gold Coast won the bid to host the Commonwealth Games.
(Source: Daily News – By Lakmal Sooriyagoda)
- Reform momentum must continue despite tentative signs of improvement in Sri Lanka Economy – IMF June 2, 2023
- Government’s objective is to develop Sri Lanka as a thriving nation by 2048 June 2, 2023
- Sri Lankan Rupee appreciates against U.S. Dollar June 1, 2023
- Professionals belonging to 14 categories required to register with Inland Revenue Department from June 01 June 1, 2023
- Bruno Divakara remanded until June 07 June 1, 2023
- Over 9,000 dengue cases reported in Sri Lanka in May, 2023 June 1, 2023
- Sri Lanka unexpectedly cuts rates by 250 bps as inflation eases June 1, 2023
Tip of the iceberg ?
Almost all of the retired central bank governors are silent and avoid politics but Cabral is extreme.
He complains that the economic growth is bad and debt crisis is burning.
Because he is backing Mahinda Rajapakse again.
This is a very sad situation.