Central Bank of Sri Lanka Governor Weligamage Don Lakshman said he would step down on September 14 as the nation encounters a deepening forex crisis that threatens its ability to import goods and service debt, according to reports.

His announcement at a briefing comes as the South Asian island nation faces dwindling reserves and revenues, looming debt repayments, and struggles with an extended lockdown to stem record Covid-19 cases. A successor was not immediately named.

"Getting things done according to my policy perspectives was not an easy task. My plan was to tender my resignation on my 80th birthday coming next month," Lakshman told before media. "The unpleasant events over the last week or 10 days have shortened my intended period by about six weeks," he said, although he did not elaborate.

The government said it doesn’t want to seek support from the IMF. Lakshman said, and he believed the government should turn to the IMF for help. He also said he had been offered a role at the IMF but would not accept it. Meanwhile, Speculation had been building that President Gotabaya Rajapaksa may reappoint former central bank Governor Ajith Nivard Cabraal to steer the monetary authority through the crisis.

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