India to help Sri Lanka trace billions stashed abroad by Mahinda Rajapaksa

NEW DELHI: India will help Sri Lanka set up a finance intelligence unit (FIU)-like entity in the island nation at Colombo's request to trace more than $5 billion allegedly stashed overseas by the erstwhile Rajapaksa regime.
President Maithripala Sirisena is moving to fulfill electoral promises to check corruption and repatriate money allegedly siphoned off abroad by Mahinda Rajapaksa, who ruled Sri Lanka for a decade, and members of his family, government sources told ET.


The new Lankan regime has informally approached the Narendra Modi government to assist in setting up the body, sources said, adding that a formal proposal could be expected soon.
The finance ministry will share its best practices with Colombo to set up the unit, which could be modelled after the Indian body, the sources indicated.

"We could help close neighbour Sri Lanka with capacity building exercise regarding FIU," said an official familiar with the process.
India set up the FIU in November 2004 as a national agency to receive, process, analyse and disseminate information related to suspect financial transactions. It coordinates and strengthens efforts of national and international intelligence, investigation and enforcement agencies in pursuing global efforts against money laundering and related crimes, reporting directly to the finance minister. Last November, FIUIndia and its Australian counterpart decided to jointly crack down on international financial crimes.
India could also consider a formal proposal from Colombo seeking the Reserve Bank of India's expertise in tracing money allegedly hoarded in tax havens. The Sirisena government has also sought help from the World Bank and the International Monetary Fund in locating this hidden wealth to expose the alleged corruption of the previous regime. The Sri Lankan government does not possess this expertise, according to Health Minister and cabinet spokesman Rajitha Senaratne.
Relations between New Delhi and Colombo have picked up pace less than a month after the change of guard in the island nation.
After the visit of Lankan Foreign Minister Mangala Samaraweera last month, his Indian counterpart Sushma Swaraj is scheduled to visit Colombo this month. The new President has chosen New Delhi as his first destination abroad and will be here in February. This will be followed by Modi's trip to Colombo in March - the first by an Indian PM on a stand-alone bilateral visit in 26 years.

Sirisena, who handed Rajapaksa a surprise defeat in the January 8 polls, has alleged that the former President and his immediate family had siphoned $5.38 billion from public coffers. Sources from Colombo told ET that high-level corruption was one the key reasons for Rajapaksa's rout. Several members of his family held ministerial positions or controlled state-run corporations.
Sri Lanka's economy expanded 7.3% to $67.1 billion in 2013, according to data on the World Bank website.
The new government has started reforming various government institutions, including regulators allegedly made defunct by the previous regime. Lanka's anti-corruption body has issued overseas travel bans on former central bank governor Nivard Cabraal and Sajin de Vass Gunawardena, a key Rajapaksa assistant, pending a corruption investigation.
Led by Prime Minister Ranil Wickremasinghe, the new Cabinet has appointed a high-powered "rapid response team" to look into corrupt land transactions, stock market price-fixing and the abuse of state funds for political purposes. According to Energy Minister Champika Ranawaka, a preliminary study by a local university showed the cost of new road construction in Sri Lanka in 2013 had been inflated by $1.53 billion. Rajapaksa was the minister in charge of highways, finance and ports. The government will review mega projects awarded to Chinese companies, including a $1.4-billion port city near Colombo harbour. 

http://articles.economictimes.indiatimes.com/2015-02-03/news/58751761_1_mahinda-rajapaksa-colombo-rajitha-senaratne

Comments

  1. Like all big countries having srcret intelligent agencies,which seychrklois will never forgez,help Rene dictatordhip from being toppled,zhe indians illegal officials pl recruited to illegally control contry,many are surely indian agents providing detailed on all pl actions .The already know all those pl thieves theft,where theircmoney are ,how pl system of corruption work,..it might hold it back,until a new democractic govt is in placein srychelles and use these information as levage to gain seychellois hearts after fior decades sponsoring and keeping pl enslaved seychellois.

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  2. Pl copiey i.dia and created a FIu,but just for window dressing,forvthose incharge are pl gang membrrs as corrupt as pl itself..Just like our kangaroo justice withvallbits illegal foreign judge,police officiers,etc...

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  3. Farmers cry for help those farmers who are crying for help are the one who gave PP and Michel their vote give them again in 2016 you will cry for another couples of years.

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  4. You know at the same time each northeast monson,tons of seaweeds invade our beaches which could easily be collected an converted into animals feed,or combine wizh our existing animal feed to increase production locally.Its Blue Economy pl.

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  5. Lately the millionaire Rev. Charles Ramkalawan stated that he will run for the 2016 election}}}}}}}}}} Then the impotent James Alix Michelle announced that he will also run for the 2016 election}}}}}}}] Now we are waiting for Totof,the greatest floor crosser of all time,the sell-out and the caborater with PL to announce his candidacy for the 2016.

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  6. Forget what India is going to do for Sri Lankans to retrieve their corrupted funds that are residing in Seychelles and Switzerland. JAM has challenged the Seselwa nation to say we are SPTC - We do not have credible opposition. JAM is 100% correct, for once he knows what he is talking about. RAM are you going to lie down and make another satirical come back for the next election. I have not noticed anything concrete from you man. Wake up, election is around the corner. You are already benefitting from fat payment from this system for you to put up a credible fight. So let us not dream of one day finding our stolen money - let us start working hard to change this unjust, unfair, ineffective system. Let us start work today and not a few weeks before election day ! This advise applies to me as well. ARAZE

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  7. Lately there have been a lot of comments made by Head of State and his Ministers on the news media. Michel is cocky as ever in saying that he will win the election whenever he wants. Well, we shall see when that somebody comes from behind and vote him out like his friend Rajapaska. The new Minister for Home Affairs Bastienne, said that he would not change anything that Morgan had put in place in the Police Force. Well, this is a crock of shit, he cannot say anything else or do anything because he knows nothing about Police Force, and Quatre is more ignorant, so now we have two blind-men and we shall see how they run!

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  8. BY frauds it is always the case....... and when you have only stooge Oppostion leaders things becomes tacit......Butcher Michel alos said he will win because Seychellois appreciate what he has done.......The question is how can Michel proclaims Seychellois like what he have done whitohut asking them ...REFERENDUM...Who the stupid would support a criminals who raped the liberty in 1977 with an Ak 47,illegal recruit foreigners to illegally control our independent and soveiregn insitutions,illegal sold our and continue to sell out their patrimony,passports to arbs abd other foreigners...who would love a donkey like Michel who is one of the less educated and should never be President but clean THE fISH market........
    This donkey is mentally ill...and should be sent to LAZIL

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  9. There was a long amrch aginst cancer......turn up excel RAm medioc protest.......When would we start marching for Democracy,Liberty and refuse One party dictatorship and marching to protest aginst the neo-colonization of our land by Indians.....their illegal present in our institutions as soveiregn country..and all thoer ofriegners in our police,justice system and Ambasssies....We independent and soveiregn is not it....So these foreigners should go.

    What I learn in this march ,is if Oppostion was Unite they could easily organize bigger ,more powerful marches than this one.......those Donkeys in Oppostion are just stooges likr TOtof who now sleep with MArco and St Ange in order that he can get an award.

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  10. t first glance reality may seem unenchanting, however its study is a necessity for any one wishing to intellectually advance beyond their childhood. Until recently considered taboo amongst polite society, spasmodically it returns to create a new passion amongst those who study its history. It is estimated that that reality is thought about eight times every day by the upper echelons of progressive service sector organisations, many of whom fail to comprehend the full scope of reality. Though I would rather be in bed I will now examine the primary causes of reality.

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  11. Totally right,it has become an on~line University for pl,but looking closely even many ideas brouht by bloggers are taken a use as pl policies.....
    In other words,Se Reality today has become an kind of encyclopia for political leaders and so on in seychelles.

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  12. MERSK to operate more cargo ship in Indain OCean...Why?becuase it sees the potential and the under developed market in the region....Calling on Pl to sell these expensive Iol tankers and instead to build a small CARGO FLEET,,,has been made for years.....It would have generated more revenue for Seychelles and Seychelles could aprtly have control this literally inexisting market in the Indain Coean,while also Use its own CARGO flett to trnasports its imports and by doing so Money would have stayed in Seychlelles coffers ..but no ..Pl donkeys without vision do not see that....OIl tankers allow Pl to robbed millions and bank in PANANAM bank account as Guy Adam has been doing for years.

    We also call on Pl to start organizing ,looking into the potential of building a small CRUISE SHIP also inexistent in Indian OCean region though the potential .....Together with our Neighbours like Mauritius this could have been possible thereby allow tow regional contires to control a lucrative business that generate multi millions in revenue and allow Seychelles to boost its capital reserves etc.....But as alaways and like common to African leaders ..they do not take the initiative and get things for once done by themselves...theywainting for a foreign company to come and start this lucrative busness ..and when they would see how much millions the ofrieng company would make ..then only with jealousy they would alos like to do the same...Like moneys ,,they allows copy others ,,,never can get things done by their on initiative....Just imagein how much revenue Seychlles could collect from such as business?PL fails to see that ,,these donkeys are to inferior and primitive to see far.....and be progressive.....No surprise these the most under qualified in our country

    The same to the use of SEAWEEDS so that it could be converted into MEDICATIONS..the porceess is not difficult and expensive...and the many expensive GENRIC medications that could be derive from SEAWEEDS in immense and it has to do with medications on high demand on world market like medications for cancner,Biabet and many other medications ...wihhc would have generate million in revenues and at the same time reduce cost on imported medications which would have reude health care costs.....These businesses are lucrative and high potential but Pl donekys do not see that tooo corrupt tto ingnorant,too under qualified and no vision at all.

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  13. Mancham is attacking RAM..he probably been sent by Pl to distract and divert attention on Pl.......Donkey Mancham is not a candidate,nor has official responsibility ,nor does Seychellois interest in his words and trash ..but there he is attacking RAM as if he is an Oppostion leader and candidate.......Lapdog Mancham is palyxing the stooge of PL...no surprise As RAM ...Pl sponsor with tax payers his expensive trips abroad,five start hotel rooms,first class flights,,,and travelling trips around the wqorld and not to forget he pocketed millions in return to reconcilate with Pl and to aply Pl stooge...that Pl sent him attacking RAM, demonstrate how belittle and corrupt he is...He asked RAM to give back the perks received from Pl as if he did not pocket perks and abusing TAx payers money to sposor his trips abroad.

    Moreover,Maqncham said RAM would be a worse dictators as the ones we have known---this is a guy who praised Pl and travel the world to advertisePl as a democratic systemmmthere he is telling us RAM would be a worse dictator as the ones we have known...In other words Mancham is conscious that we are in a dictatorship and that Michel is a dicator,........why not criticize pl dictatorship instead Mancham?Well Pl is his source of revenue ,KASSOGGI is gone ...there must be another guy to pay his expensive and abusive travels ..to go and speak trash around the world.

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  14. MANCHAM KNOWS FOR HIMSELF AND HIS INNER CIRCLE.
    HE PRAISED GILL IN HIS NEWEST BOOK BY GIVING TOTOF TWO LINE(30WORDS) OF FAME FOR HIS ECO-ESTABLISHMENT ON PRASLIN.
    THE ONLY GOOD MANCMAM WAS BAABBY....
    HE IS BLAMING THE ANGLICAN PRIEST BECAUSE HE COULD NOT BE A PRIEST! BTW...ALL POLITICIANS ARE THE SAME.....THEY WILL PROMISE YOU BRIDGES EVENTHOUGH THERE ARE NO RIVERS.

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  15. Mancham prefers to see him as Hotelier than Politician...it is a way of encouraging him to get out of politics and also he is a family Member of Mancham .
    His craattack on RAm is to divert attention ffrom Pl.Michel is using him as Dummy...but the fact is this guy has nothing to do in Seychelles politics...he rule Seychelles 50 years ago for one year only ,and one can say he did not delivered anything.He went almost 35 years in exile(no not exile he holds also in Brtitish passport ...he went to live in his second country UK,,,awqay from politics and did not show any interests of fighting outside for Seychelles interests and people like usualaly any geneuine polticians would normaly do..And moreover,Mancham likes telling us he has good contact abroad,with high dignitaries...there again ..though all his so call dignitairy friends aborad who he could has used ,enticed to help get rid on Pl one party ..Mancham failed?Why did he failed to bring change from outside..?well he has no interest in Seychellois but his own greedy interest...he has once again demonstreated he greedy selfish mentality by secretly reconciliating himself with pl and thereby in the deal pocket millins of Tax payers money ..which in Inconstituional therefore illegal..Mancham for instance,benfits from Tax payers money for all his travel aboroad...though he was President for one year 50 years ago and there is not cluases in our Constitution that stipulates that a ex-President...he benefit like RAM of a life pension ..thoughLive pension law was illegally passed long after he exiled ..so he should not be allegilbe to life pension.etcv..etc..etc..etc..etc.

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  16. I heard RAm,defending Laporte and saying Laporte is a"technician and worked for IMF"..well Seychelles does not need a technician....what does a technician does?well simply keeps the motor rolling a..not to increase it speed ,or change anything.......and Morevoer,as he was an IMF agent ,e expected him to have more understanding of how to not only implement IMf polcies but develop his own National policies to get economy in the mess.....He failed to do that though heis experience at IMF..which confirmed his incapacity to solve thing.So it was right to sacked him...he failed. Laporte as an ex IMF agent fialed to for instance,get our 2,4 billions back and expose Pl thieves he failed..He failed to take actions against corruption ..which was something weexpected from an Ex IMF agent....He failed to reduce Debts but instead increased it,,He failed to listen to businesses creating the wealth put cannot afford ...Laporte bullshit them and ignore than but than turned back and sucked them with high taxes of all kinds,He fialed to fight money launderying instead he participated in it...in a word he failed badly ...we could not continue with the same failure and keep Laporte as minister of financial just because he was an ExIMF agent while failing to deleiver.It is not who you were.or you are ,but what you deliver RAM.
    Seychelles needs a fiancé minister not with technical ability ,,but with understanding of the situation and the way to solve them,,one with common sense than technical ability ,one who deal with all the negations such as corruption ,bribery,money launderying which help empty our coffers for money that should enter our economy are diverted abroad and thereby affect our economy,,etc,,etc,,etc,,,laporte BRAVELY FAILED ON ALL THESE ISSUES.

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