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By Our Political Editor-Sunday, July 03, 2016
President Maithripala Sirisena yesterday appointed Dr. Indrajit Coomaraswamy a renowned diplomat and economist, as the Governor of the Central Bank — ending weeks of speculation over who will take the post.
The move which climaxed a behind-the-scenes drama this week had pitted the two key players of the Government – the United National Party (UNP) and the Sri Lanka Freedom Party (SLFP) — on a virtual collision course.
The first intimation of Dr. Coomaraswamy’s appointment came in the President’s twitter account. It said: “After consulting all parties relevant, I appointed Dr. Indrajit Coomaraswamy to head the Central Bank of Sri Lanka.”
Ahead of the appointment, Sirisena met Prime Minister Ranil Wickremesinghe and Development Strategies and International Trade Minister Malik Samarawickrema last morning. He conveyed his decision to appoint Dr. Coomaraswamy. The Premier agreed and Minister Samarawickrema also agreed to release Dr. Coomaraswamy who was serving as Advisor in his Ministry.
Premier Wickremesinghe told the Sunday Times: “Dr Coomaraswamy is a capable person. He comes in at a time when there will be a new Foreign Exchange Act, a Financial and Business Centre (at the Colombo Port City), and measures to strengthen Bank Regulations.” He said the country needed a person who could interact with the international community “when we are opening ourselves to the outside world.”
Premier Wickremesinghe told the Sunday Times: “Dr Coomaraswamy is a capable person. He comes in at a time when there will be a new Foreign Exchange Act, a Financial and Business Centre (at the Colombo Port City), and measures to strengthen Bank Regulations.” He said the country needed a person who could interact with the international community “when we are opening ourselves to the outside world.”
Prime Minister Ranil Wickremesinghe accompanied by outgoing Central Bank Governor Arjuna Mahendran is seen on Wednesday leaving the Central Bank where he and President Maithripala Sirisena discussed the appointment of a new CB Governor.
PM’s letter on Thursday
Aggravating the situation was an urgent letter Prime Minister Wickremesinghe wrote to President Sirisena on Thursday. It was on this day (June 30) that Arjuna Mahendran ceased to be Governor. He had assumed office on January 26, 2015 after the resignation, just after the presidential election, of the previous incumbent Ajith Nivard Cabraal. Mahendran served the remainder of Cabraal’s term.
Aggravating the situation was an urgent letter Prime Minister Wickremesinghe wrote to President Sirisena on Thursday. It was on this day (June 30) that Arjuna Mahendran ceased to be Governor. He had assumed office on January 26, 2015 after the resignation, just after the presidential election, of the previous incumbent Ajith Nivard Cabraal. Mahendran served the remainder of Cabraal’s term.
