The newly formed government is under fire for its borrowing practices, with allegations of overborrowing surfacing just weeks into its term. Between September 27 and October 15, the Central Bank issued Rs. 465.1 billion in treasury bills, a move the government claims is routine for debt servicing.

President’s Adviser on Economic and Financial Affairs, Prof. Anil Jayantha Fernando, said that Rs. 400 billion of the total is allocated for servicing existing debts, emphasizing that this approach adheres to the debt ceiling established by the previous administration. He dismissed opposition claims as either misinformed or politically motivated.

Conversely, the Samagi Jana Balawegaya (SJB) has raised alarms, asserting that the government borrowed Rs. 419 billion in just 13 days. Former MP Rohini Kaviratne criticized the government for what she described as “unlimited loans” that fail to benefit the public, noting delays in pension payments and government salaries.

Kaviratne’s analysis revealed the government borrowed significant amounts on multiple dates in October, totaling over Rs. 1.34 billion per hour. She called for transparency regarding how these funds are being utilized as concerns grow over the country’s financial stability.