Sri Lanka Can Overcome Crisis If Central Bank Independent, Says New Governor

Sunday, 10 April 2022Newsdesk

Exuding confidence in overcoming the unprecedented economic 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 is to allow the Central Bank to function independently.

New Delhi, 10 April 2022

As per news report of NDTV, 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, the Colombo Page reported. Mr Weerasinghe said that his intention is to maintain the Central Bank as an independent institution that could make any decision without any political interferences. The new governor gave information about the changes in the policy interest rates and said that the central bank has decided to increase the policy interest rate by 7 per cent. He further said that it is the first time in Sri Lanka that the interest rate had been raised at such a high rate.

Source - NDTV