In view of Supreme Court's decision to grant leave to proceed with the Fundamental Rights petitions filed regarding economic crisis in the country, the Court has ordered the Auditor General to conduct an audit and submit a report on Monetary Board's decision to maintain Sri Lankan Rupee at around 203 against the US Dollar and delay in seeking facilities from the IMF.

 

The Auditor General was further ordered to conduct an audit on the matters relating to the settlement of International Sovereign Bonds to the 

value of US$ 500 million on January 18, 2022, utilising foreign reserves.

 

According to the Supreme Court's order, this report should comprise observations, including whether any loss had been caused to the Central Bank due to its above decisions.

 

The Auditor General was further directed to submit to the court, the report titled “Special Audit Report on Financial Management and Public Debt Control in Sri Lanka 2018-2022” dated 4th July 2022.

 

These petitions are to be taken up again on January 9 next year. (Lakmal Sooriyagoda)