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Friday, January 28, 2011 - 9.12 GMT
US spent 700% more than SL on war against terror

- Cabraal tells LLRC


The cost incurred by the US government on training their forces in Iraq and Afghanistan is 700% more than what Sri Lanka spent on the war against the LTTE, stated Mr. Ajith Nivard Cabraal, Governor of the Central Bank of Sri Lanka making representations at the Lessons Learnt and Reconciliation Commission on Jan. 26.

The US has spent US$ 39 bn on the war in contrast to US$ 5.5 bn which Sri Lanka has spent during the 2006-2009 period which included the cost of aircrafts, ships, tanks, ammunition, other equipment, training, food for soldiers, uniforms, etc.

He also said that terrorism funding was key to the launch of successful terrorist attacks and the continuation of the LTTE agenda, stated Mr. Ajith Nivard Cabraal.

He also noted that extraordinary economic benefits accrued to the country when terrorism was finally defeated.

Many previous governments did not pursue “Defeat of terrorism by military means” with enthusiasm, because of the perceived massive “cost” that it was supposed to entail, and the tough economic decisions that needed to be taken, he said.

Economic "Aid" and concessions with politically motivated conditions can lead to de-stability in the medium and long term development goals in a country, he added.

He stressed that there were massive global mis-information campaigns that were carefully designed to affect Sri Lanka's economy, funding sources, cost of borrowing and country ratings, etc.

After the defeat of terrorism, an extraordinary effort was made to restore normal life, measures such as speedy re-settlement, rapid de-mining, quick restoration of livelihood, extensive infrastructure restoration and upgrade of sustained investments being made by in North and East and new initiatives by the Banking Sector, the Governor said.

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Last modified: January 28, 2011.

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