The Central Bank retired Executive Officers’ Association in a letter to the President Gotabaya Rajapaksa on Monday expressed their concerns on how several persons had been appointed in the past to the post of Central Bank Governors sans sound knowledge and exposure on central banking management and operations and thereby had miserably failed in achieving the desired fiscal objectives and had caused irreparable damage to the image of this prestigious institution.
“Central banking is an area where a person needs to be conversant in banking and finance, micro and macro-economic management, public finance, international financial system and relationships with respect to monetary management and real sector activities. That is why we have a history of ‘failed non-central bankers’ as Governors,” they said.
“In view of the foregoing, we strongly believe in the competency and commitment of the current Governor Dr. Nandalal Weerasinghe to restore confidence on the CBSL for an independent and professional discharge of its responsibilities at this critical juncture.
If anyone is contemplating to remove him from his position, we view it as a highly unpatriotic move with entirely ulterior motives. We categorically condemn such efforts in all counts,” they stated. Therefore, they requested the President to take all possible measures to prevent such sinister efforts, if any, which will eventually expose the President and the whole nation to a major catastrophe. “This is not a time to experiment as the situation is grave”, they asserted.
By Ishara Gamage