President Maithripala Sirisena said of the Rs 10 trillion loans obtained by the previous government from foreign countries, only about Rs 1 trillion could be accounted.

"The rest of the money," he said, "cannot be accounted for, according to the Finance Ministry documents" Sirisena said, addressing a meeting with newspaper editors and media heads. 

a large sum of funds that should have been deposited with the treasury have gone to private companies and institutions and that has been done in a systematic manner to avoid disclosure, he said.

He said that there were sale of state owned institutions and state properties during the last 3 years of the current government too, and some of these deals were done without even informing the cabinet of ministers.

"I left the ministerial post in the last government and became the common candidate with the promise of ending frauds, bribery and corruption and I will continue my crusade against corruption and malpractices no matter what ," he said adding that his action in this regard had antagonized some sections of the government. 

The President said that an unholy alliance of elite robbers in the government and the opposition had managed to delay the debate on the Central Bank bond commission report and the report of the Presidential Commission of Inquiry into serious acts of Fraud, Corruption and Abuse of Power (PRECIFAC). 

President Sirisena said a coalition of VIP 'robbers' involved in the bond scam attached to the government and the opposition had gathered at a house in Borella and decided to delay the debate on both reports.

He said they had met the day before when Parliament decided to hold the debate after the election.

President Sirisena said after receiving the bond commission report by him, the opposition had continuously urged to hold a debate on it and to make it a public document immediately. “By then I had not read the full report. I went through it three days and made a statement after consulting senior legal experts and senior public servants including Presidential Secretary Austin Fernando. Then, the bond commission and PRECIFAC reports were presented in Parliament,”

He said, however, surprisingly these parties were silent after presenting these two reports to the Parliament and they had decided to hold the debate after the Local Government election.