Prof. Hudson McLean

Explained: What Happens When A Country Goes Bankrupt?

Explained: What Happens When A Country Goes Bankrupt? Sri Lanka is in the midst of a rising financial and humanitarian catastrophe, with predictions that it could dec…

The country is going bankrupt.” In truth, that is a false assertion. 

Ranil Wickremesinghe, as a veteran politician, as the Prime Minister, was Totally Irresponsible to declare Sti Lanka is bankrupt.  

He should have known better than to state that publicly to bring the “Fear Factor”. This was Criminal!

Ranil accepted the job as PM to re-enter Temple Trees and to gloat on the privileged position.

 Why did he volunteer to be PM?

I might add, as a Roman Catholic, Cardinal Ranjith should keep himself out of politics!  His current reputation as the leader of the Sri Lankan Catholic Church is blemished & tarnished.

When one views the Sri Lankan Law Makers, the country was totally under the control of the Rajapaksa Clan.

Rajapaksa Family made Sri Lanka into Rajapaksa Land! 

If anyone should be held responsible for the demise of this beautiful “Tear Drop” in the South of India, The Rajapaksa Family should be 100% Responsible.

The Ministry of Foreign Affairs should now take away all the International Passports of the ex-Ministers of the Government from fleeing the country. 

An independent commission should investigate the wealth, and the bank accounts of the ex-Ministers, and confiscate any unsubstantiated funds, property, and credit to the Sri Lankan government.

The solution to bring back Sri Lanka to credibility rests on the Recovery Team Sri Lanka Limited.

The Recovery Team Sri Lanka Limited MUST be operated like a Limited Liability Company with a CEO.

Apart from the Board of Directors, there will be a Supervisory Directors on a FREE of Fee, basis.  Some of these Supervisory Directors may be from outside of Sri Lanka.

Each Director with a Portfolio or a Ministerial responsibility must be given and be accepted, as a Financial Target with a Time Limit..

The CFO (Chief Financial Officer) will publish the Bottom Line which the Directors should achieve within 12 months.

The salary structure of the Directors including the CEO shall be minimal and based on a revenue-related incentive.

If Dhammika Perera (a non-political successful businessman) is appointed and accepts the responsibility as CEO, he should be allowed to select his own management team.

Like in Singapore, the main principle of the  Recovery Team Sri Lanka Ltd is Corruption FREE with Zero Tolerance!

Suggest that Team Sri Lanka Ltd engages Three (3) Top Singaporeans from Singapore Economic Development Board / Temasek Holdings for a One Year Agreement.

Any comments? Agree or Disagree!

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