http://www.imf.org/external/np/sec/pr/2009/pr09266.htm
http://profit.ndtv.com/2009/07/24173441/California-Software–Aitken-S.html
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It would seem to be a hugely contradictory and conflicting manoeuver for the owners of a foreign based conglomerate that operates on island to be writing policy statements on behalf of the IMF/World Bank as well as acting as Mission Chief for the country he has private interest in. Furthermore, what are you estimated balance of payments for current year based upon? I see a trajectory of decreasing external debt being manipulated against a formulae of increased private debt creation – how much is Aitken and Spence and its new offshoot CalSpence standing to profit from that in niche technology creation which is really just a interface of available programmes and why would Sri Lanka want to utilize a private venture for such work off island when this program was tied to a different type of government/private cooperation that does not make readily available details of our internal and external distributions and controls to public markets. Another matter that has not been revealed in your statement is the interest rate and terms of repayment. The country is wondering why full terms and the executor were not revealed before what amounts to loan stuffing.
Our commercial debt has greatly decreased in the current programme as has our external debt which you intend to raise considerably.
I would also like to see a statement where a special column is created for CEB and CPC balances as both are under construction loads that will correct on their own and give a irresponsible view of the current position as well as skew what future correction will be attributed by.
“The consolidated government balance includes the Ceylon Electricity Board and the Ceylon Petroleum Corporation”
I am also wondering how much of our debt load is created by Aitken-Spence and its affiliated ventures? Numerology in banking and a planned 5 year “recovery” is quite contadictory to both the past available data for privatisation and fully capitalisyic streams that rocked our country in prior years and the economic realities that without the “international financial meltdown”, war at home and major utilities constuction that is nearing completions the economic policies of the country in 2006-2009 period have been quite positive. We would like to see the full terms of this loan package, Brian, as most of us believe in full ledger accounting with proper columnar adjustments much more than numerology.
How has this bond debt been spread out over the matrix?
“Staff estimates based on total stock outstanding of foreign exchange commercial debt plus nonresident purchase of rupee-denominated treasury bonds.”
How much of our commercial debt is based on domestic load and how much on foreign/multinational load and what is the spread on F/MN debt? Final 2 questions what is the cost for this software development and is the 322.2M changing to 332.2M in Q4??? – that is a joke but this policy statement which seems PC and non-revelation of terms is a red flag.
http://www.imf.org/external/np/sec/pr/2009/pr09266.htm
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