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Eran questions the propriety of appointing Cabraal as CB Governor

Eran Wickramaratne

SJB Parliamentarian, Former State Minister of Finance Eran Wickramaratne has questioned the propriety of appointing Ajith Nivard Cabraal as Governor of the Central Bank since he is a politician. If there was any truth in the report then it was totally unacceptable.

Eran Wickremaratne expressed the concerns while addressing the media at his political office at Kirullapone recently. Eran said:

“Central Banks are always independent of the governments and they are not a department of the Government. Their primary responsibilities are looking at the stability of financial system and secondly making sure the inflation is under control. Therefore, the CBSL needs to have the independence to ensure these policies.

Former Governor of the Central Bank Ajith Nivard Cabraal is a politician more over a minister in the present government. It is very clear if you are a politician or a minister you cannot be appointed to become the Governor of the Central Bank.

Usually a very experienced official from the bank can aspire to be appointed. If an outsider, he should have the economic and monitory economic backgrounds. Some might hide behind and think by resigning from the ministerial post and become the governor of the CBSL. It cannot be done as there is a conflict of interest. That is impossible to do. There has to be a cooling off period before such an appointment is made.

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