CB Governor with Cabinet Rank? : Latest on Cabraal

September 8, 2021 at 11:07 AM

State Minister Ajith Nivard Cabraal is reported to have sought the Governor post of the Central Bank with Cabinet rank, the Daily Mirror reported.

According to the report, the Government MP is said to have requested for the post with Cabinet rank, like in countries such as China, Singapore, and Vietnam.

It has been reported that Cabraal has sought the post with authority similar to that of a Cabinet Minister in terms of protocols to enter into negotiations and take decisions in the money and capital markets, unhindered, the Daily mirror news report added. 

Reports have been rife recently claiming that the State Minister of Finance and Capital Markets, and Public Enterprise Reforms is set to be appointed as the new Governor of the Central Bank of Sri Lanka.

When inquired in this regard, State Minister Ajith Nivard Cabraal neither confirmed nor denied the news, the Daily Mirror reported.

However, the Government yesterday clarified media reports circulating on the appointment of a new Governor to the Central Bank.

Commenting on the matter during the post- Cabinet media briefing held yesterday, Co-cabinet spokesman Minister Ramesh Pathirana said there has been no firm decision made to appoint a new Governor to Sri Lanka’s Central Bank.

However, according to a new report by the Daily Mirror, State Minister Ajith Nivard Cabraal has confirmed that he would take up the post of ‘Governor of the Central Bank’.

The report said the State Minister had revealed that he will take up the post on the invitation of President Gotabaya Rajapaksa, within the course of this week.    

“I expect to tender my resignation as a National List Member of Parliament of the Sri Lanka Podujana Peramuna (SLPP) and from the Post of State Minister to the party leader, Prime Minister Mahinda Rajapaksa and President Gotabaya Rajapaksa shortly. President Rajapaksa has invited me to accept the post of Governor of the Central Bank’ as the economy is going through a critical time and I accepted it,” Minister Cabraal told the Daily Mirror.

He further said he would make a farewell address in Parliament before resigning from his Parliamentary membership and State Minister post, adding that he would get more time and opportunities to dedicate fully to resolving the economic, monetary, FDI, banking, and import-export, and industrial issues of the country.  

Cabraal has previously served as the Governor of the Central Bank of Sri Lanka, holding the post from 1 July 2006 until his resignation on 9 January 2015. (NewsWire)