Sri Lanka central bank’s board in emergency session

ECONOMYNEXT – The governing Monetary Board of Sri Lanka’s central bank is meeting in emergency session with the expected appointment of a Governor not taking place as expected, official sources said.

The Monetary Board of which there are three members, with one member abroad, had earlier stopped short of appointing a P Samarasiri as Senior Deputy Governor until a new Governor is appointed amid a protest that it may be contrary to the Monetary Law Act that governs the bank.

It is not yet clear whether the Monetary Board will appoint a SDG to an acting position.

Prime Minister Ranil Wickremesinghe has told a ceremony at state-run Independent Television Network that a governor cannot be removed until the charges against him are proved in a reference to allegations over bond auctions.

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