Sri Lanka: The 16th Governor of the CBSL, Ajith Nivard Cabraal, assumes office

COLOMBO: The new Governor of the Central Bank of Sri Lanka (CBSL), Ajith Nivard Cabraal, has assumed office. Mr. Ajith Nivard Cabraal assumed duties as the 16th Governor of the Central Bank of Sri Lanka on Wednesday, the 15th of September 2021 in Colombo. His appointment was made by His Excellency the President of the Democratic Socialist Republic of Sri Lanka Gotabaya Rajapaksa, according to the provisions of the Monetary Law Act No.58 of 1949. Accordingly, Mr. Cabraal will function as the Chairman of the Monetary Board of the Central Bank of Sri Lanka.

In an initial statement on Wednesday, Cabraal assured the public that he would steer the economy towards stability, reports Xinhua news agency. "The Central Bank's first and urgent priority under my watch, will be to provide clarity with regard to the movement of Sri Lanka's macroeconomic fundamentals in the desired path and thereby ensure stability in the financial sector," Cabraal said.

Cabraal said that the CBSL would soon announce a short-term road map to be followed by all stakeholders. He will also function as Chairman of the Monetary Board of the CBSL. Cabraal previously served as the 12th Governor of the CBSL from July 2006 to January 2015. Outgoing CBSL Governor W.D. Lakshman announced his resignation on September 10.

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