-By A Staff Writer
(Lanka-e-News -06.Oct.2024, 5.35 pm) Milinda Moragoda, a former Sri Lankan diplomat and current head of the Colombo-based Pathfinder Foundation, is facing mounting pressure from the international community to settle a substantial loan owed to the Sri Lankan State Bank. Moragoda, a U.S. citizen who once served as Sri Lanka’s High Commissioner to India, has become embroiled in a controversy over his alleged anti-China agenda and financial dealings.
Moragoda’s Pathfinder Foundation, known for its critical stance on Chinese involvement in Sri Lanka, has been accused of promoting anti-Chinese propaganda. This has reportedly led to diplomatic tensions, especially given Sri Lanka’s longstanding historical and political ties with China, which span over 2,000 years. Critics allege that Moragoda’s efforts to influence the previous government under former President Gotabaya Rajapaksa, as well as the previous administration of President Ranil Wickremesinghe, to adopt an anti-China stance, have complicated Sri Lanka’s foreign policy at a critical time when China is playing a key role in the country’s debt restructuring process with the IMF.
At the center of the controversy is a loan amounting to nearly one billion Sri Lankan rupees that Moragoda allegedly obtained from the State Bank of Sri Lanka during his time as a minister in Ranil Wickremesinghe’s short-lived government. While Moragoda has reportedly justified the loan as an investment in mercantile credit, critics argue that he has failed to repay the debt, raising concerns about his credibility.
There are growing calls from diplomatic and international circles for Moragoda to repay the loan to avoid reputational damage. Failure to do so could lead to the blacklisting of the Pathfinder Foundation, potentially damaging its influence and credibility. Observers note that the funds could be directed toward reinvestment in Sri Lanka’s businesses or infrastructure, benefiting the country at a time of economic hardship.
With a new government under Anura Dissanayake expected to take office soon, there are also expectations that legal action may be taken to recover the funds if Moragoda does not act promptly.
As pressure mounts, Moragoda’s next move could be pivotal in determining his future standing in both Sri Lankan and international diplomatic circles.
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by (2024-10-06 12:10:44)
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