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The bond scam is also regarded as the largest reported financial scam in Sri Lanka despite the country's reputation of having a solid visionary banking system over the years. [ 2 ] [ 3 ] This was a major blow to the Sri Lankan economy and was also major setback to the newly elected government under the leadership of Maithripala Sirisena which ...
In 27 February 2015, newly appointed CBSL governor Arjuna Mahendran advertised the sale of Rs. 1 billion in 30-year government bonds at a coupon of 12.5% [22] Despite several accounts erroneously cite an indicative rate of 9.5%. [23] [24] The sale was oversubscribed with 36 bids of totaling Rs. 20 billion. The majority of bidders, 26, bid for ...
The Sri Lankan economic crisis [8] is an ongoing crisis in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]
The LIBOR scandal is being called the "Wall Street scandal of all scandals" and the "rotten heart of finance," but the massive fraud can be hard to fathom for anyone who doesn't follow the markets ...
Last month, it reached a settlement with Mozambique over the "tuna bond" scandal, having agreed in July to pay $388 million to British and U.S. regulators over Credit Suisse's dealings with ...
Former Mozambican Finance Minister Manuel Chang was convicted Thursday in a financial conspiracy case that welled up from from his country's “ tuna bond ” scandal and swept into a U.S. court.
Lakshman Arjuna Mahendran is a Sri Lankan-born Singaporean economist and banker. [1] He is a former Governor of the Central Bank of Sri Lanka (CBSL), having been appointed by President Maithripala Sirisena in January 2015 and served until the end of his term on 30 June 2016. [2]
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