Is People’s Bank Bankrupt?

People’s Bank Chairman Sujeewa Rajapaksa responds to rumors circulating on social media that People’s Bank has gone bankrupt.
He says the allegations are completely untrue.

“It is a blatant lie that People’s Bank is in crisis. Two or three LCs (letters of credit) were stuck with the dollar shortage in the country these days. But today the required dollars are being provided by the Central Bank. Then that problem is over today. No other issues here. Rupees are not a problem at all, these are completely false propaganda. No need to worry, People’s Bank is not a problem institution. These are lies to mislead these people ”

Meanwhile, Samagi Jana Balawega MP Harsha de Silva stated in Parliament today that there are reports that state banks have defaulted.

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