It is like a patient being in the ICU. The Finance Minister a die-hard UNP party man was quick to respond. The Minister said Dr Coomrasawmy was associated with the previous regime, which killed the economy. The economy was slowly recovering from the massive debt burden the Rajapaksa had put on the country into.
The Central bank Governor’s comment that there is a possibility that the rupee would be allowed to float, put unnecessary pressure on the Rupee resulting in a sharp depreciation of the rupee. Questions are being asked if Dr Coomraswamy got the approval of his Minister before he made those statements?
The fact that the Minister in charge of the Central Bank was not present indicates that the government thinking may be very different. Central bank staffers say the Nivard Cabral group with in the bank has got round the weak Central Bank governor and getting him to dance to their tunes to support the opposition agenda.
In addition, they allege private sector Bank Officials have got round him and he is dancing to the tunes of the Banking Sector, without introducing measures to reduce the lending rates.
The Governor who is known to have verbal diarrhea would need to be muzzled to ensure he does not sing from another hymn sheet that could undermine the government’s development agenda and strgthened the opposition agenda.