Central Bank should not be politicised – SJB

On Sep 14, 2021

The appointment of State Minister Ajith Nivard Cabraal as the Central Bank Governor poses a threat to the credibility and independence of that institution, Opposition Leader Sajith Premadasa said. Issuing a statement, he said the Samagi Jana Balawegaya (SJB) objects to this appointment and requests the President to reverse the decision. “The Central Bank should not be politicised. It has to be independent when it comes to decision making. The new Head of the Central Bank has a checkered history. This move will lead to erosion of international investors’ confidence in Sri Lanka. Prior to the new appointment Cabraal was a State Minister and Sri Lanka Podujana Peramuna (SLPP) member. This is an instance of conflict of interests. At a time, the country is facing a debt crisis and a shortfall of foreign exchange, this appointment will not paint a good picture of the country to the international investors,” he remarked.

The Opposition Leader said that an individual with an unblemished track record needs to be appointed as the Central Bank Governor to win international confidence and turn the country’s economy around.