Sri Lanka parliament adjourned in uproar over Central Bank Governor

COLOMBO (EconomyNext) – Sri Lanka’s parliament was adjourned Tuesday in the wake of an uproar with the opposition demanding to debate a no confidence motion on Central Bank Governor Arjuna Mahendran.

The opposition is pushing for a no confidence motion on the Central Bank Governor after a controversial auction of 30-year bonds that awarded five time the original amount offered to a firm connected to his son-in-law.

The controversial deal which sent interest rates soaring and brought gilt markets to a standstill for two days.

Sittings were suspended twice over demands to debate the motion which the opposition say was handed over to the speaker yesterday. However the administration insisted that that it was not in the order paper for today’s business.

Government spokesmen have said there was no provision to move a motion of no confidence on a public official.

The opposition has demanded an independent probe into the deal and had slammed a report by a committee appointed by Prime Minister Ranil Wickremasinghe, which found no ‘direct role’ by the Governor.


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