Cabraal to introduce Road Map after assuming CBSL governorship | Daily News

Cabraal to introduce Road Map after assuming CBSL governorship

State Minister of Money and Capital Markets and State Enterprise Reforms, Ajith Nivard Cabraal handed over his letter of resignation from Parliament on Monday to take up the portfolio of the Governor of the Central Bank today at 2 PM.

One time Governor Cabraal said that he was surprised to note the opposition raised by opposition political figures like former Minister Eran Wickramaratne (EW) and JVP leader Anura Dissanayake (AKD) at this juncture after being silent for six years. “EW as State Minister of Finance and AKD as a Yahapalanaya Government stalwart had a run of 5 years during which time they had ample opportunity to bring out any misdemeanor of me and take legal action against me. But, although they and their colleagues tried their utmost, they couldn’t do so, as there were no misdemeanors or offences they could prove,” Cabraal said.

“At the same time, I never ran away, but faced every allegation and innuendo directly and publicly answered all critics and gave an open challenge to the Yahapalanaya regime of that time which included EW and AKD to provide any proof of any wrongdoing.” In response, while they continued to sling mud and innuendo, there was not a single charge that the Yahapalanaya Government could level against Cabraal.

Thereafter, Cabraal was in Parliament for over 1 year as an MP and State Minister. During that period, Cabraal openly faced the opposition including both EW and AKD on many issues. But, as usual, those elements were unable to challenge Cabraal on any issue.” This time, when I resigned my Parliamentary seat and Ministry position and thereafter intended to take up the position of the Governor of the Central Bank, these elements are now obviously terribly worried that I will bring stability to the economy and the financial sector and consequently their dreams of regaining power will be dashed.

In sheer desperation therefore, they are now venomously slinging mud and attempting to distract me and the Government from staging an economic recovery.”

Cabraal further pointed out that all economic stakeholders expect the Central Bank to provide clear and firm guidance, particularly at turbulent times, such as the current times.

“Hence, in my assessment, the Central Bank’s urgent priority will be to provide clarity with regard to the expected levels of Sri Lanka’s macroeconomic fundamentals and to guide the movement of such macro-fundamentals in the desired path, and thereby ensure stability in the financial sector.”

The Central Bank will also need to be prepared to take the required steps that will reflect its own commitment towards that objective and will therefore soon announce a policy package in the form of a short-term Road Map that could then be followed by all stakeholders.

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