By Adolf
Many are asking LNW to interview the Central Bank Governor on the recent USD 2.5 million fraud, the USD 650,000 transfer, and the missing French loan papers. We are told he is in Australia. Has he come back at least now? I am sure law enforcement wants to talk to him too. Some indicate that Dr. Nandalal Weerasinghe was in Sri Lanka on May 4–5, 2026, signing an MoU with the Australian High Commissioner in Colombo. Given that seven tranches were paid from the CBSL—some after verification by the CBSL—the questions only multiply. Already, one person has died by suicide. Some say it was a suspicious death, because the man was not the type to take his own life. The truth will certainly come out at a later date.
Bankruptcy
Governor Nandalal Weerasinghe has been praised by some quarters and criticized by others. The AKD and JVP, prior to the presidential election, promised to send him home. Yet they embraced him after AKD won. But the fact remains—the default under his watch, the decision that made Sri Lanka a bankrupt nation, will never go away. The majority say it should never have been done. Gotabaya Rajapaksa and Ali Sabry, then Finance Minister, defended the Governor. But there is still no clarity on whether Cabinet approval was obtained. Parliamentary approval was never obtained either.
Conclusion
The SMEs criticize him for raising interest rates to over 30%, destroying small businesses and making the rich richer. Instead of deploying a haircut on bond coupons and deposit rates, he passed the burden to the Employees’ Provident Fund (EPF). When he retires, these decisions will all be closely scrutinized. MP Ravi Karunanayake is leading the charge.
Meanwhile, the humongous bank fraud of Rs. 13.2 billion happened during his watch. Three weeks on, no decisive action has been taken so far. Yet Governor Nandalal Weerasinghe keeps receiving awards. When he finally hangs up his boots, he had better be ready to face scrutiny. So wherever he is, he had better come back and steady the financial system. He is duty-bound to do it.
Wednesday 13 th April 2022 Government Declared Bankruptcy . Our ratings have still hardly recovered