To check this claim, FactCheck consulted data from the Colombo Stock Exchange Quarterly Report and the Securities and Exchange Commission of Sri Lanka Annual Report. LKR 104 billion is recorded as the total sales value (outflow) of foreign owned stocks in the Colombo stock exchange from January 2020 to December 2020.
Money printing is more formally known as deficit financing. It refers to when the Central Bank finances the government’s budget deficit by creating new money to directly purchase government securities issued by the treasury. The Central Bank’s purchases of treasury securities are reflected in the balance sheet of the Central Bank. Therefore, to quantify the money printed during the relevant period, FactCheck referred to the Central Bank’s purchas
To check this claim, of overwhelming global support for permitting burial of Covid-19 victims, FactCheck consulted the latest available guidelines provided by the World Health Organisation (WHO) of the United Nations, Center for Disease Co
In his statement, former MP Ruwan Wijewardene claimed that the allocation for the Ministry of Health in 2021 was decreased by LKR 20 billion during a health crisis, compared to 2019. To check this claim, FactCheck consulted the budget estimates and publicfinance.lk.
In the second reading of the 2020 Appropriation Bill, Prime Minister Mahinda Rajapaksa claimed that the budget deficit for 2019 increased to 9.6% of GDP. To evaluate this claim, FactCheck consulted annual reports from the Ministry of Finance (MoF).
In his statement, former Prime Minister (PM) Ranil Wickremesinghe made two claims: (1) Government revenue fell by LKR 100 billion, to LKR 50 billion, in July 2020, and (2) the required expenditure for salaries and pensions significantly ex
To evaluate this statement, FactCheck referred to the 2019 annual report of the Sri Lanka Labour Force Surveys published by the Department of Census and Statistics (DCS). For purposes of this analysis we consider the districts falling into the
To assess this claim, FactCheck consulted the Labour Force Survey for Sri Lanka’s statistics and used the International Labour Organization, ILOSTAT database to compare Sri Lanka’s female labour force participation rate in 2019 with that of the rest of the world.
This statement was made in the context of the constitutional changes in the proposed 20th Amendment (20A). In his statement, Minister Peiris justifies the need for presidential immunity as provided for in the 20th Amendment, by claiming: As long as the 19th Amendment is in force, the president will have to waste his time (“rastify”) in courts. To evaluate
To evaluate this claim, FactCheck consulted the latest available Labour Force Survey (LFS) statistics, which provides sector-wise estimates of employment.The average labour force engaged in agriculture, as their primary employment, was 2
This statement was made by Minister Sabry in explaining his opposition to the 19th Amendment (19A) to the Constitution. Through this statement he asserts that the constraints on the president to remove the Inspector General of Police (IGP) from office was brought about by 19A.
Prime Minister Mahinda Rajapaksa claimed that the former government forcibly enacted the Office of Missing Persons (OMP) Act. In his statement, the prime minister indicated that this forcible enactment in
The industries Ministers Media secretary has sent the following response to the FactCheck published on page 1 of Daily Mirror on August 27: The FactCheck featured in your newspaper had been compiled using a news report published in the Mawbima newspaper of 13. 07. 2020 using a statement made by Minister Wimal Weerawansa.
Minister Weerawansa here is possibly repeating a claim about trade data in June 2020 that has also been separately carried in the media. To evaluate this claim, FactCheck looked at Sri Lanka’s monthly and annual import and export data as reported by the Central Bank of Sri Lanka (CBSL).
To evaluate Governor of the Central Bank of Sri Lanka (CBSL) W.D. Lakshman’s claim, FactCheck consulted the set of principles developed by the Bank for International Settlements (BIS)—an international organisation that serves and supports central banks in their pursuit of monetary and financial stability—to assess the risk taken on by global and domestic banks. Sri Lankan domestic ban
On 24 June 2020, Divaina reported Prime Minister Mahinda Rajapaksa’s above claim that his government succeeded in achieving effectively universal access to electricity (99.9% access). To evaluate this claim, FactCheck consulted data from the annual reports of the Central Bank of Sri Lanka from 2004 to 2019. In 2004—prior to the Sri Lanka Freedom Party (SLFP) forming government—74.9% of the population had access to electricity. By 2014—the final
FactCheck evaluated the president’s claim in terms of real GDP growth in the post-war period, using data from the 2019 National Accounts Estimates of the Department of Census and Statistics and the Annual Report of the Central Bank of Sri Lanka 2019. From 2010 to 2014, the real GDP growth rate reported averaged 6.78%, which is a little below the 7-8% claimed. This results from the GDP growth being higher than 7% for 3 years in 2010-12, and unde
To evaluate this claim, FactCheck consulted the Monetary Law Act, Finance Companies Act and Sri Lanka Deposit Insurance Scheme Regulations. The legislative framework for deposit insurance in Sri Lanka is established by Sections 32A t
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