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Bond scam loss could be up to Rs 500-1,000 billion: Cabraal

Former Governor of the Central Bank of Sri Lanka, Ajith Nivard Cabraal, says that he believes the losses caused by the bond scam is a lot more than what has been stated in the commission report.

“I see it as a loss of somewhere between Rs 500 billion and Rs 1,000 billion.” 

He also said that he is glad that the report of the Presidential
Commission on the bond scam has recommended an investigation into the issuance of bonds during the period from 2008 to 2014.

“I’m glad that was said. Because such an investigation has already being carried out by the country’s Auditor General as per the request of Finance Minister Ravi Karunanayake and the relevant report has been uploaded in his website. It is still there in that website to this day,” he told Ada Derana.

However, if the report states that an inquiry should be carried out on the bonds issued during that time period despite the fact that it has already been done, then we should be glad about that, Cabraal said.