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» Enterprise Sri Lanka to give extra credit support for women, disabled soldiers
Yesterday at 8:42 pm by sashimaal

» Quick Checklist for Selecting a Stock
Sat Jun 23, 2018 1:04 pm by spw19721

» HUNA.N0000
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» Hello and CSE ?
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» 2018 මැයි මස උද්ධමනය සියයට 2.1 ක් දක්වා ඉහළට
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» Laughter the Best Medicine
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» Top monk asks Sri Lanka’s ex-defence chief to return as ‘Hitler’
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» May inflation at 2.1%
Fri Jun 22, 2018 2:06 am by sashimaal

»  මෙරට විශාලම ආයෝජනය වන හම්බන්තොට වරායේ අවසන් ආයෝජන මුදල වරාය අතට බාර දෙයි
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» CCS.N0000 ( Ceylon Cold Stores)
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» HHL.N0000 ( Hemas Holdings PLC)
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» රුපියල තවදුරටත් පාවීමට ඉඩහැරිය යුතුයි - ජාත්‍යන්තර මූල්‍ය අරමුදල
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» රජයේ සුරැකුම්වලින් රුපියල් බිලියන 2.7 ක විදෙස් ආයෝජන සතියක් තුළ දී ඉවතට
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» ඩොලර් බිලියන 10 යි – මහ බැංකුව ඉතිහාසයේ වැඩිම විදේශ විනිමය සංචිතය ගොඩනගයි
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» මාස 02 කදී කොටස් වෙළෙඳපොළ සියයට 4 කින් කඩා වැටිලා
Tue Jun 19, 2018 8:31 pm by serene

» කිම් - ට්‍රම්ප් හමුව: දෙරටේ නායකයෝ සාකච්ඡා අරඹති
Sun Jun 17, 2018 10:55 am by Ethical Trader

» DOCK.N0000 (COLOMBO DOCKYARD PLC)
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» TPL.N0000 (TALAWAKALE PLANTATIONS )
Thu Jun 14, 2018 7:17 am by lanka

» සපත්තු පෙට්ටියකින් හමු වූ චීන මල් බඳුන පවුම් මිලියන 14 අලෙවි වේ
Wed Jun 13, 2018 12:03 pm by Ethical Trader

» Dividend Announcement
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» LLUB.N0000 (CHEVRON LUBRICANTS LANKA PLC)
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» ලංකාවේ ඉපිද, බ්‍රිතාන්‍යයේ නගරාධිපති පදවියකට පත් වූ කරීමා
Tue Jun 12, 2018 3:19 pm by Ethical Trader

» KGAL.N0000 (Kegalle Plantation PLC)
Tue Jun 12, 2018 2:40 pm by Ethical Trader

» Where in the world is it easiest to get rich?
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» "එළ හරකා - මී හරකා ආර්ථික ප්‍රතිපත්ති" සහ ඩොලරයට සාපේක්ෂව පහළ වැටෙන රුපියල
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» මුහුදු පතුලේ තැන්පත් කළ දත්ත ගබඩාව "යථාර්ථයක් විය හැකි විකාර අදහසක්"
Thu Jun 07, 2018 6:00 pm by Ethical Trader

» KFP.N0000(Keels Food Products PLC)
Thu Jun 07, 2018 8:54 am by lanka

» Sri Lanka Port Authority profits up after China takeover of Hambantota
Wed Jun 06, 2018 5:58 pm by Ethical Trader

» Tax hike to trim profits of Sri Lankan life insurers: Fitch
Wed Jun 06, 2018 5:55 pm by Ethical Trader

» Rupee weakens, stocks gain 0.23-pct
Wed Jun 06, 2018 5:54 pm by Ethical Trader

» ශ්‍රී ලංකාවේ 'අධිකරණයට අපහාස කිරීම' ගැන දැන සිටිය යුතු නීති පසුබිම
Tue Jun 05, 2018 6:50 pm by කිත්සිරි ද සිල්වා

» Sri Lanka finance ministry accounts qualified by Auditor General
Tue Jun 05, 2018 1:28 pm by Ethical Trader

» IFC invests US$2.5mn in Sri Lanka's PickMe
Tue Jun 05, 2018 1:22 pm by Ethical Trader

» Sri Lanka state banks most in need capital for Basel III, new risk identified
Tue Jun 05, 2018 1:21 pm by Ethical Trader

» Sri Lanka's ETI Finance able to settle small depositors if liquidated
Tue Jun 05, 2018 12:53 pm by The Invisible

» Oil steady as extra U.S. supply balances strong demand
Mon Jun 04, 2018 3:59 pm by කිත්සිරි ද සිල්වා

» In the Meantime, Within Our Shores !
Mon Jun 04, 2018 3:32 pm by කිත්සිරි ද සිල්වා

» Cartoon of the day...
Mon Jun 04, 2018 11:47 am by nihal123

» SPEN.N0000
Sat Jun 02, 2018 6:19 pm by Ethical Trader

» තායිලන්තයෙන් අභ්‍යවකාශයට යන 'දූරියන්'
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» බන කියන පුංචි දරැවා
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» Exclusive: Cricket match-fixers caught in the act in Sri Lanka
Mon May 28, 2018 7:41 pm by sashimaal

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Loud call for unity to protect Governor, Central Bank’s independence

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Loud call for unity to protect Governor, Central Bank’s independence

Post by Backstage on Fri Dec 23, 2016 9:37 pm

Loud call for unity to protect Governor, Central Bank’s independence
2016-12-23

Highly respected economist Prof. Razeen Sally this week revealed clear attempts by certain powerful individuals in the government to undermine the good work of the incumbent Central Bank Governor Dr. Indrajit Coomaraswamy and re-politicize the institution, which, according to him, must be condemned and resisted with full force.
Of late, the country’s belligerent Finance Minister Ravi Karunanayake accused the Central Bank of failing miserably on many fronts as he thinks the institution had deviated from its responsibilities under the law and also allowed it to be politicized, a charge denied by Dr. Coomaraswamy.
According to Karunanayake, the Central Bank should confine itself to a regulatory and monitoring role and should not try and tell the government how to run the country’s economy. He said the regulatory reforms to that effect would be brought shortly.
“Of course there are governing politicians who seek to undermine him (Dr. Coomaraswamy) and to eat away the Central Bank’s authority and to re-politicize the Central Bank,” Prof. Sally told a public seminar organised by Advocata, an independent public policy think tank, jointly with the business magazine, Echelon, in Colombo.
Dr. W.A. Wijewardena, a respected economist and a former Central Bank Deputy Governor, also recently said such attempts by the governing authorities to belittle the Central Bank’s independence tantamount to a “disaster”. “The tone of the minister (Karunanayake) implied that the government was to reduce the independence of the Central Bank and make it another department in the Finance Ministry.
If done, this would be a disaster and would go against the accepted principles of central banking. The loser at the end would be the government and the people of the country,” Dr. Wijewardena cautioned in his weekly column in our sister paper Daily FT, this week.


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