Sri Lanka CB Governor will be appointed for one year: Minister

ECONOMYNEXT – Sri Lanka’s President Maithripala Sirisena will appoint a Central Bank Governor for one year, State Minster for Finance Lakshman Yapa Abeywardene said.

"It will be an experienced person," Abeywardene said. He declined to say who it was or whether existing Governor will be re-appointed.

Sri Lanka’s civil society organizations which played a key role has been asking for current Central Bank Governor Arjuna Mahendran to be sacked over bond auction rigging and insider dealing allegations involving a gilt dealership owned by his son-in-law.

Minister Abeywardene said the administration had listened to the voices of civil society. After one year a decision will be taken whether to extend his appointment.

The new governor is expected resign in an year.

Under Sri Lanka’s moentary law a Governor is appointed for six years.

President Maithripala Sirisena said a ‘new Governor’ will be appointed within hours.

 

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