Sri Lanka: Central Bank Governor Confident of Overcoming Crisis

The newly appointed Governor of the Central Bank of Sri Lanka, Nandalal Weerasinghe said that one of the ways to overcome the current crisis situation in the country is to allow the Central Bank to function independently.

He further said that President Gotabaya Rajapaksa had given him the authority to run the bank independently and also asked him to expedite measures to get the country out of the crisis.

Speaking at his first media briefing after assuming his duties on Friday evening, the new governor expressed confidence that he will be able to resolve the economic crisis of the country.

Weerasinghe said that his intention is to maintain the Central Bank as an independent institution that could make any decision without any political interference.

Weerasinghe said he met with the bankers and gave them a clear message that he will be transparent in dealing with them. Meanwhile, the governor said that he will be holding a virtual meeting with the International Monetary Fund (IMF) on April 11 and a Letter of Intent to the IMF is to be presented later, it will follow the technical process.

Meanwhile, amid the unprecedented economic crisis in Sri Lanka, the price of rice has increased to "unbearable levels" in the island nation. The consumers in the island nation said that the price of rice per kilo have now exceeded from Rs 200-240.

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