The present government is in possession of all relevant documents exchanged by the former government to obtain loans from China at interest rates as high as 6.3 per cent for the construction of the Hambantota harbour even when there were opportunities to obtain loans at interest rates as low as 1.4 per cent. This is why he responsibly says that Sri Lanka has to pay higher interests on these loans, said Policy Planning & Economic Affairs Deputy Minister Dr. Harsha de Silva.

While speaking during a media conference in Colombo this morning (15 July) the Deputy Minister said that he does not point fingers at China for the loans obtained at higher interest rates for the Hambantota harbour.

However, since the higher interest rates should be paid in dollars, this is disadvantageous to Sri Lanka, he added.

Meanwhile, Dr. Harsha de Silva said he had stated that Sri Lanka’s real economic growth in 2014 was 4.5 per cent and it was 3.4 per cent in 2013 based on the updating program begun by the former government in 2011, which data had not been released when the government realized that the people would understand that the economic growth is low.

“This updating was begun by them. I say this with responsibility. These alterations were not done by us. What we did was only to present it,” he added.