Former Central Bank of Sri Lanka (CBSL) official P. Nandalal Weerasinghe said on Monday he had accepted an offer from the country's president to become the bank's next governor amid a deepening economic crisis and unrest.
Sri Lanka s imports are estimated to have soared to 2.2 billion US dollars in December 2021, central bank said amid sterilized forex sales to maintain a policy rate of 6.0 percent as inflation urged to 12.1 percent.
Challenge Before The New Finance Minister: Choice Between Pragmatism & Dogmatic Ideals
Dr. W.A Wijewardena
The new Finance Minister Basil Rajapaksa, known in political circles by his first name Basil, is reported to have made an especially important confession on assuming duties last week.
He is said to have pronounced: “Our priority is to serve the people. We have identified all the key priorities and requirements of the general public. However, at times we will have to take certain unpopular decisions, just like how a father would for the betterment of his children and family. But these out-of-favour decisions are taken with so much honesty and consideration for the betterment of the entire nation. Therefore, I urge you all to support our efforts in these trying times”