Supreme Court ruled Gotabaya, Mahinda, Basil & others responsible for economic crisis in Sri Lanka

Basil Rajapaksa, Mahinda Rajapaksa and Gotabaya Rajapaksa

Sri Lanka’s Supreme Court today (November 14) ruled that former President Gotabaya Rajapaksa, former Prime Minister Mahinda Rajapaksa and former Finance Minister Basil Rajapaksa and several others are responsible for the economic crisis in Sri Lanka due to mismanaging the economy between 2019 and 2022.

Accordingly, in a majority decision of the Supreme Court five-judge-bench ruled that respondents including former President Gotabaya Rajapaksa, former Prime Minister Mahinda Rajapaksa, former Finance Minister Basil Rajapaksa, former CBSL Governor Ajith Nivard Cabraal and Professor W.D. Lakshman, former Treasury Secretary S.R. Artigala and former President’s Secretary P.B. Jayasundara has violated the fundamental rights of the people.

The ruling was delivered based on the majority decision of the five-judge bench, comprised by Chief Justice Jayantha Jayasuriya, and Justices Buwaneka Aluwihare, Vijith Malalgoda and Murdhu Fernando delivered the majority decision in the matter while Justice Priyantha Jayawardena dissented.

The petition filed with the Supreme Court pointed out that a tax relief of Rs. 681 billion for businessmen during Gotabaya Rajapaksa’s tenure as President was the main reason for Sri Lanka’s economic crisis.

They also pointed out economic mismanagement issues including the pegging of the Sri Lankan Rupee against the US Dollar, the delay in securing the IMF assistance, and the repayment of USD 500 million sovereign bonds during a forex crisis.

The petition was filed by Prof. Mahim Mendis of the Open University of Sri Lanka, Former Chairman of the Ceylon Chamber of Commerce Chandra Jayaratne, Julian Bowling, Jehan Kanakaratne and Transparency International Sri Lanka.

The Supreme Court also ordered for the petitioners to be paid Rs. 150,000 each.