Posted on January 21st, 2022

Chula Rajapakse MNZM

Ranil Wickramasinghe is the one who sponsored Arjuna Mahendran to lead the Central Bank of Ceylon . Mahendran now stands accused in the Courts,  of Sr Lanka hearings for which are proceeding ,for the biggest financial fraud in Sri Lanka’s over 2500 yr history . Even after Mahendran was dismissed by the the then President MS, RW tried to reappoint him as CBC governor again.  This  has irrefutably exposed himself as unprecedentedly corrupt , with no integrity and vey likely to have provided the blessings for this unprecedented fraud. These are established FACTS , NOT  ALLEGATIONS

He tried to pin this label  of financial frauds”  between  2015 & 2019  on his predecessors using all of  the govt’s resources and more establishing an unprecedented wing of the police called the FCID, sending teams overseas including to Dubai to investigate fraud and failed to find a shred of evidence, let alone bringing any to court for financial fraud.

He  cleverly manipulate the constitution through the 19th Amendment to transfer unto  himself despite being an an unelected Prime Minister only  appointed by the President  many of the presidential powers that the nation bestowed on the President  through his election,  

Through out his tenure he lead a a more and more dysfunctional govt as PM from 2015 to 2019, that ran down the economy to ground , with nearly no growth, no new revenue earning ventures evidenced by a decline in annual growth rate from over 6% to less than 3%, , a static per capita income which had doubled and tripled in the preceding 9 yrs, , saw the Rupee depreciate from 135./ US $ to 185 /Us $ when he finally was forced out.

He kept the people happy by funding unrestrained import based consumerism  funded  by raising  over $5 billion through market borrowings manly as sovereign bonds,, accounting for vast proportion  of the debts that the administration is now having to service.His government did not initiate a single new revenue earning venture neither local currency or foreign currency.

The dysfinctionality of his govt  peaked after October ’18 when his main coalition partner  the SLFP led by President  MS withdrew support.  He then led a govt scraping a majority through the mercy of minority parities whose unsupervised authority enabled the Islamic Mujahidine conspiracy to climax with the  2019 Easter Sunday bombing.

If not for the fact that he had cunningly  shorn off with his 19th amendment Presidential powers to dissolve parliament after one year following election as envisaged by JRJ, , parliament would have been dissolved in Oct ’18 , and fresh elections Called with almost certain avoidance of the 2019 Easter Sunday bombing  and all it’s many consequences that are also impacting on SL’s current Challenges.

I do  agree  with the comment of a friend of mine and RW who characterised RW as  ”  a non-inspirational character who lacks leadership qualities. His arrogance is clearly seen when asked about hand over of the party leadership. A 70+ year old failed politician claims that a young cadre of leadership is not yet ready!


  1. Ratanapala Says:

    The Agenda given to Ranil W by his handlers in the Christian West is to run Sri Lanka down to the gutter and to make it a Failed State. This would thereafter enable the Christian West to appear as saviours (R2P) through IMF and World Bank to do as they please with Sri Lanka – politically, stategically and economically – financially!

    It is a well known fact that by the end of 2014 the UNP did not even have money pay for the electriciy bill at Siri Kotha. It is rumoured that UNP was financed by Ravi Karunanayagam at that time.

    The purpose of the First Central Bank Bond Scam was to find funds for the August 2015 Parliamentary Elections. This is why they didn’t waste any time and executed the Bond Scam within 8 weeks of coming to power. Clearly the ‘highly placed person’ who instructed the Bank of Ceylon to place Rs 10 Billion in Perpetual Treasuries coffers within the space of 10 minutes on that fateful day for the Central Bank was none other than Ranil W.

    When the Central Bank Bond Scam Commission of Inquiry was constituted, they hastily arranged that the Commission of Inquiry should investigate the workings of the previous administration of Mahinda Rajapakse too. When a murder is committed and investigations are on – can the accused party insist on the judiciary to investigate all previous murders too at the same time. Any inquiries on improprieties or misdemeanours of a previous administrations should be an entirely separate investigation!

    For the average citizens of Sri Lanka it is incomprehensible to understand the reasons for the delay in meting out justice to the Bond Scam perpetrators. This is clearly Justice Delayed and Justice Denied!

    Before soon the current administation too will be found to have been an impediment to finding justice to the Central Bank Bond Scams.

    It must be understood by all that the seedy amount that was confiscated from Perpetual Treasuries does not constitute the entire damage that was done to the nation. Sri Lanka suffered – increased interest rates, increased taxes and losses through bonds that would go on to tax the people of Sri Lanka till the expiry of the Bonds sold under these two scams – If I am not too mistsken for 30 years!

  2. Ratanapala Says:

    The graph above shows clearly the decline of the Sri Lankan economy subsequent to the 2015 Bond Scam!

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