What happened to Sri Lanka- The banking system in Sri Lanka will collapsed soon

Professor Nihal Hennayake of the Faculty of Management and Finance of the University of Colombo says that there is a risk of the banking system collapsing soon.

Pointing out that wrong economic management is the main reason for this, the professor emphasizes that this situation has been created due to the failure of many bankrupt government institutions to settle the loans obtained through banks in this country.

The professor pointed out that the government has spent about 200 billion rupees in the year 2021 for education in this country and pointed out that in that year only Sri Lanka Airlines has incurred a loss of more than one billion rupees.

 It is special that he disclosed that the loss paid by the legalized petroleum corporation so far this year is close to 700 billion.

He has also revealed that in this kind of environment, the country has more responsibilities than placing full hopes on the International Monetary Fund. The value of free education provided by public universities has not been properly understood by the students, so a price should be decided for the relevant courses.

Professor Nihal Hennayake emphasized that if this is not done, another method should be prepared immediately.

Commenting on the International Monetary Fund, the professor mentions that instead of focusing on getting 4 billion dollars from the International Monetary Fund, he also revealed the facts about many areas that need more attention.

It is also special to reveal facts about the special investments that can be made by utilizing the Hambantota Conference Hall and surrounding resources, which have become a burden to the country due to irresponsible investments.