CBSL Governor brands EU response on import control as an “overreaction”

This statement is unbecoming for a head of the country’s monetary authority as the Central Bank has no mandate to comment on diplomatic and political matters and statements, a senior economic expert pointed out.

Such issues of foreign diplomatic missions should be addressed and redressed by the country’s Foreign Ministry and therefore its responsibility will be undermined by local foreign embassies if the Governor continues this unethical practice, he noted.

He has also earned the wrath of the International Monetary Fund (IMF) when he told a leading newspaper couple of months ago that it is essential to rethink the support provided by multilateral financial institutions to enable emerging and developing economies.

This has prompted the IMF to review its extended fund facility to Sri Lanka and the country’s request for a Rapid Credit Facility (RCF), economic experts said, adding that the Governor should refrain from poking his finger into everything.