Sri Lanka to appoint governor after Finance Minister returns: statement

ECONOMYNEXT – Sri Lanka’s President Maithripala Sirisena will appoint a new central bank governor after the Finance Minister returns to the country, in consultation with the Prime Minister Ranil Wickremesinghe, the state information office said.

Under Sri Lanka’s monetary law, the central bank governor is appointed for a six year term by the President on the recommendation of the Finance Minister.

No date was given for the appointment.

The term of Arjuna Mahendran, under a cloud over allegations of bond auction rigging ended on June 30.

Sri Lanka is currently operating without a central bank governor under the direct control of the Monetary Board. The Monetary Board, which usually delegates its powers to the Governor. (Colombo/July01/2016)


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