Jan 30, 2017

Ravi interferes with Central Bank affairs! Featured

The Central Bank of Sri Lanka, its’ governor - Dr. Indrajit Coomaraswamy and the bank’s senior management are facing a dire crisis due to the continuous interferences of the Finance minister - Ravi Karunanayake, the ‘Lanka’ newspaper reports say.

Dr. Coomaraswamy is an appointee of President Maithripala Sirisena and differences between the actions of the minister from the Prime minister’s camp and the CBSL bigwigs are leading to several economic issues, it adds.

Karunanayake is interfering with affairs of the CB, which is outside his purview, and making attacking criticisms of the institution, ‘Lanka’ reports.

He has stormed a meeting between CB officials and primary brokers and criticized the bank’s actions, attempted to seize assets of its monetary board, publicly criticized the governor and other senior officials and accused certain of its senior officials of plotting to depreciate the Sri Lankan rupee in the international financial market.

He had bragged that he would bring down the dollar to Rs. 129 by June 2015, but it has now depreciated to Rs. 152.

The accord between the senior management and the administration is in danger of collapse, while the bank’s coming under the prime minister’s economic affairs ministry too, has become a problem.