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Sri Lanka’s Foreign Min resigns over alleged scandal

| | Colombo

 Sri Lanka’s Foreign Minister Ravi Karunanayake resigned on Thursday over corruption allegations after being linked to a businessman under investigation for alleged irregularities at a Government bond sale. Karunanayake, 54, told Parliament that he was resigning from the Cabinet to create a new political culture in Sri Lanka and ensure that opponents are not able to destabilise the Government.

“I am resigning not with any guilt but with pride,” Karunanayake said and dismissed allegations of corruption. Last week, Karunanayake appeared before a presidential commission of enquiry in connection with the bond sale scandal in 2015.

Perpetual Treasuries Ltd, a subsidiary of a company owned by the son-in-law of Sri Lanka’s then-central bank chief Arjuna Mahendran, bought more than half of the controversial bond issue on February 27, 2015, prompting charges of a conflict of interest. Mahendran and his son-in-law, Arjun Aloysius, have denied any wrongdoing. Karunanayake is accused of taking on lease a luxury apartment in Colombo paid for by Aloysius of Perpetual Treasuries.

 
 
 

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