“Former Governor of the Central Bank Ajith Nivard Cabraal is a politician more over a minister in the present government. It is very clear if you are a politician or a minister you cannot be appointed to become the Governor of the Central Bank,” says the former State Minister of Finance and member of Parliament Eran Wickramaratne.
Commenting on the report that the Governor of the Central Bank has resigned, Wickramaratne said “But our concern is that a former Governor of the Central Bank may be appointed and if there is any truth in it, it is totally unacceptable”
Eran Wickramaratne
Wickramaratne, addressing the media at his political office at Kirullapone yesterday, said that Central Banks are always independent of the government and they are not a government department. Their primary responsibly is to look at the stability of the financial system, and secondly, it is to make sure that inflation is under control. Therefore, the CBSL needs to have the independence to ensure these policies.
The former Governor of the Central Bank is a politician – more over a minister – in the present government. It is very clear if you are a politician or a minister you cannot be appointed to become the Governor of the Central Bank. Usually a very experienced official from the bank can aspire to be appointed. If an outsider, he should have the relevant economic and monitory economic backgrounds. Some might believe that by resigning from the ministerial post, a politician can then become the governor of the CBSL. It cannot be done as this presents a conflict of interest. That makes it unethical. There has to be a cooling of period before such an appointment is made.
The Presidential Commission of Inquiry on the Bond Scam required that a forensic audit on the transactions be conducted; this audit took place between January 2002 and February 28, 2015. There are five Forensic reports done by reputed institutes such as PDO and KPMG. These reports discuss this conflict of interest where many members of Cabraal’s family were in various financial institutions during the time Cabraal was the Governor. It reveals a potential conflict of interest noted between July 2006 and Jan 2015. Dr. W.A. Wijewardena, a retired Deputy Governor confirmed the conflict of interest. Mano Ramanathan revealed to the Forensic Committee that no declaration was made to the Monetary Board about the conflict of interest, as is required by the law.
Under this context Cabraal is highly unsuitable to be the Governor of the CBSL. I, as Minister of State for Finance could not follow up on these reports, as they government investigation and the revelations that emerged from the Forensic Audit reports about Cabraal’s involvement did not come out until 2019. But this government has tried to sweep these reports under the carpet. But this is unethical. These are forensic audits that were conducted under a Presidential Commission and they must be investigated.
In addition, he referred to the February 2021 sentencing of Imaad Shah Zuberi, who is now serving a 12-year prison sentence after being tried by the US government for for illegal lobbying and campaign contributions. Zuberi was hired by the GoSL in 2014 for an image-building project in the USA. The GOSL agreed to pay Zuberi USD 8.5 million. We have since paid him USD 6.5 million, although we have received nothing from Zuberi.
Wickramaratne asked who paid this money. Although this payment must be approved by the Cabinet or by the Government, there was no such approval. Instead, it was paid by the Central Bank. Wickramaratne asked several questions of accountability: Who in the CBSL was responsible? Did the Monetary Board knew about it? The then Governor of the Central Bank is responsible, and this must be investigated. How can a government even consider appointing a person like that again as the governor of the central bank? Wickramaratne emphasized that a country is more important than an individual. Commercial banks, international agencies, and rating agencies will be concerned about this appointment. Wickramaratne expressed his confidence that the government will make the right decision.
In the meantime, Wickramaratne also said that the government has imposed a 100% cash margin when opening letters of credit (LC) on over 600 items including mobile phones and computers describing them as non-essential goods. But addressing the media at his political office at Kirullapone yesterday, Wickramaratne said that when he inquired from two banks, they said that even with the 100 % margin it is impossible to open an LC because they don’t have the dollars. The Central Bank is not issuing dollars to the commercial banks which is essential to pay for an LC.
This restriction of the 100 % margin will again help the cronies who are major importers to monopolize the market. It is not only that they can afford to keep the required margin from their saving without additional cost of finance, they might even have the dollars to meet the needs. Normally there is no interest accrued by the importers on the deposits made for an LC, and as a result the SMEs in the country will find extremely difficult as they don’t have the savings to keep the required 100 % margin and many will most likely be thrown out of this business. As a result of this new regulation by the government to save its face from the shortage for dollars, it will increase the prices of these goods.
The list – which could be considered as a virtual ban – includes mobile phones, computers, and over 600 other items declared as non-essential goods by the government. Ours is the only country where students have the most number of “Home -days than the School days” as the government is keeping our kids at homes due to pandemic. Amidst this, mobile phones and the computers have become essential goods to learn online.
“The critical matter is the CBSL will not sell dollars to banks to pay when the LC becomes due. This is the big problem faced by the commercial banks. There is a dollar shortage in the country.What is the government doing about it? What kind of policies is this government is pursuing? Are they taking the people back to the dark eras of queues and shortages? So this is an absolute nonsense,” declared Wickramaratne.
Wickramaratne emphasized that the real issue is a dollar shortage and we need to address that primary issue as a country, if we are to come out of this problem. (By MAH)
hanchopancha / September 11, 2021
Hello Mr. Eran Wickremeratne. Which part of the Galaxy ye comes from. This is Srilanka, By which, it means there are no customs, conventions, traditions, religions, rules, regulations, etc., etc.
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leelagemalli / September 11, 2021
Dear Mr Wickramaratne,
Country is made upside down by Rajapakshe criminals.
The wonder is people stay as if they are deaf and blind.
No matter even constitutional provisions, let alone entire nation would be against, Mr 10% aka Basil Rajapakshe (formerly alleged to have robbed unestimable sums of state funds, and not to forget that GAMPAHA palace was built on the robbed funds) was appointed as the minister of FINANCE to the current govt ( almost everyone of this country should stand against this appointment), in a backlash, that anything and everything would be carried out not respecting any norms,
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How can they appoint their baggage boy, Ajith Cabral, former CBSL govenor as their next govenor ?
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Rajapakshes would not respect anything, nor would they come to press briefings as to why they stand against the law..
, …. look at the manner how the bugger et al left for VATICAN last night, whilst almost nothing is in reserves to order essential imports to the nation.
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I think it is high time to stone all these men to death, where lawlessness is governing, the people have no other option.
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nimal fernando / September 12, 2021
“Did any of these …… Central Banks, rules, laws, traditions, conventions ….. sprout from our own culture? ” — Good ol’ “nimal fernando,” out of pity, carrying the torch for the Rajapakses …….. since their “ball carriers” aren’t very good at their task
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“We don’t drop bombs on White people anymore. All our recent wars have been with people of color.” — Michael Moore
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“A bunch of Brown-Sahibs …….. pouring scorn and derision on the source/font of their Brown-Sahib-ness.” — Native Vedda …. mocking Lankan White-mimickers analysing the aftermath of the Afghan-war.
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Don’t any of ye intellectuals/Bright-sparks/Einsteins/Analysts/NGOs/apes …….. get it ….. if we spend all our waking-hours mimicking another race/culture that they would feel superior to us?
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Insecurities anyone?
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Thought for the day …….. Just imagine if ye are born into a remote isolated Amazon tribe cut-off from all others ……. ye are born into a culture: ye live and die in the culture.
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Contrast that with a culture that has to mimic another culture to gain respect from ye own people/culture.
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Now, let me get into my Ralph Lauren polo, grab my Louis Vuitton bag, drive up to MacDonald’s in my Bugatti for some French fries with a glass of warm Glühwein …….. aperitif, Native?
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Native Vedda / September 12, 2021
nimal fernando
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“Now, let me get into my Ralph Lauren polo, grab my Louis Vuitton bag, drive up to MacDonald’s in my Bugatti for some French fries with a glass of warm Glühwein …….. aperitif, Native?”
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I am sorry I never heard of all these stuff you mentioned above.
However, it appears that you have acquired expensive taste in life style.
I am told lifestyle marketeers are looking for gullible filthy rich persons to sell worthless A to Z stuffs.
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By any chance like Steve Bannon, you are one of Rajapaksa clan’s key wealth managers?
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nimal fernando / September 12, 2021
“worthless A to Z stuffs”
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Don’t buy the stuff ……. buy the shares ……… OTC: LVMUY , MC (EPA)
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Doubled since the pandemic.
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Rajapakses know to steal ……….. but investing?
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Mahila / September 14, 2021
LLM,
Reliably informed that Mr. W, would await a phone call of approval even to attend the toilet to complete his ‘routine morning ablutions’, let alone his statutory duties of investigations of Crookes and Criminals in SL, even those who are, far flung and away from the sphere of GR, MR, BR, CR and NR coterie!
How and why will he attempt this investigations and place himself in jeopardy,
1. when 6.9 million men, women thought along with their heard and
2. Shepherd’s to boot, that they were more wise than any other in this resplendent aisle? Coupled,
3. To that the 2/3 of 225 grass eating “Mee Harakkas” gave approval to the 20th amendment!!!
4. He will be a ‘Goner’ before the ink dries up on his signature on the document!!
if it is anyone inimical to the above 5 personalities, that would be a different drama and dance!
Even Sarath W would not nod, without GR/MR/BR approval!!
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leelagemalli / September 11, 2021
This is a country filled with THRISANNU. They dont care about the law and regulations.
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https://www.youtube.com/watch?v=ue2dsiq7e6E
The govt assures to hold investigations, but nobody seems to end up in jails, so long Rajapakshes and their henchmen ministers in power. We saw much of law and order improvement during SIRISENS-RANIL govt, but today, whatever we hear is beyond all ethics and morals.
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Jabs imported for the nation is sent out to any places where RAJAAKSHES think is right …… these are not their private properties. Nobody seems to come forward to stand agaist. Is there any law in this country today ?
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Mahila / September 14, 2021
LLM,
Reference, “The government ‘assures’ to hold investigations, but nobody seems to end up in jails”.
They assure ‘holding’ inquiry not bringing the culprits to book or punish them – because THE FOX IS THE GUARDIAN OF THE CHICKEN PEN!
heard at the watering hole with many Sri Lankans is that, the process is for, “The culprits to ascertain how the last job was done and how and why it went wrong or got caught and find new pathways to mend and improve the scams in the future, to improve the process and benefit!”
Why do you think majority of fact finding (inquiries and commission) reports are finalised and given to Presidents, PMs and not published OR MADE AVAILABLE TO THE PUBLIC?
THAT WILL BE ELECTION HARAKIRI JAP STYLE!!!
These are Crooke, claiming to be sacred cows!!
What happened to the Easter Sunday Presidential commission report?!!! Tax payer money spent are Property of R Bros company. Lankans owes it to them as the saviours, who pulled them out of the mire of LTTE terrorism. Not Sarath F or Armed forces of this country. They paid lip service as Ranaviruwo. All crocodile tears and publicity stunt for self-aggrandisement. of national wealth
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Jayel17 / September 12, 2021
Does not matter, expressing the facts is good for the general understanding
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Jack / September 12, 2021
I read logical ,well written articles in DT like this. I can see the truth . Then I think about 6.9 million people who sold their soul and country and will do it again. Why do I think.
Let’s them suffer
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leelagemalli / September 12, 2021
My dear Eran,
Rajapakshe miracles — What was/is legal if it came from Rajapakshes?
They dont have brains, but using their muscles they have been excercising terror against own people, moreover against all 6.9 mio voters.
Gota s nomination as presidential candidate in PE 2019 was illegal/against the constitution – but Election commissioner (the man with bed-pan style mouth piece but the most abusive public servant in recent history) became servile to Rajapakshe kalliya (criminal net work) and let it go; by the time, decision was made to give nomination to GOTA, he was still an american citizen. Those who are doubtful, can go for a FACT check. All these with all other canddiates, incl. JVP leader AKD did not utter a single word against. AKD should come with his explanation on this…. That is what I believe, only COLONIAL masters could revitalize srilanka nobody else.
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Gota s 20- Amendment was against people s will- against ethics and morals, but even MUSLIM MPs with the approval of MUSLIM leaders supported it and Gota s dictatorship was empowered.
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Then a DUAL citizen, allegedly to have robbed out state, during his brother s administration from 2010-2015, with his family being american citizens, Basil Rajapakse entered in to so called powerful body in the country- which ist he parliament…….with PINGUTHTHARAYA, yellow pet boys, being deaf and blind.
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leelagemalli / September 12, 2021
You might have meant … not DT, but CT right ?
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Jack – peoples are controleld by MYTH…. that was well analysed by POLONNARUWE donkey.. though he is an idiot…… he said once ” this country, people would never see it right,.. never respect facts and figures, but cultural beliefs led conditioned mind set would not go beyond anyhting else”:… the very same was the case with the psycho analyst – Prof. Kovur…. he resounded…. no matter what degree qualification they bring with… at the end of the day… what matters fo rthem would be…. mythical misleads…..
at the time, malaria hit the land…. with YELLOW PET BOYs started to chant pirith… disrespecting all other options the world was then busy with….. Prof. Kovur and the like analyst observed it closely….. so long such aSTRONG stigmatisation governs in this country, nothing would change … even if the dreams of the youth would not stay away from them. … thi sis the ground reality of average mindset in this GOD PUNISHED nation…. God punished or better said..: RAJAPAKSHE PUNISHED NATION.
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leelagemalli / September 12, 2021
To everyone s note, I will add here the web link for SLCB.
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https://www.cbsl.gov.lk/en/about/organisational-structure/monetary-board#
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Ajay Sundara Devan / September 11, 2021
This gecko-like man is the most unsuitable person in the country for the post of Central Bank governor. He did the exact same bond scam, that Arjun Mahendran is accused of, when he was the governor under Mahinda by putting his sister on the board of directors of Arjun Aloysius’ Perpetual Treasuries. As such this move to reappoint him as Central Bank governor is Gota’s slap in the face to the 6.9 million who naively believed he will bring the perpetrators to justice and put an end to bond scams. We’re living in a walking nightmare.
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leelagemalli / September 12, 2021
Dear Sensitive Readers,
Rajapakshe miracles — What was/is legal if it came from Rajapakshes?
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They came to power – brothers would be able to handle things much better compared to RW-MS crisis. Mahinda Rajapakshe as long held politician in srilanken parliment promised, „ deela balannako, api economy eka hadhana widiya- just give us a chance and see how we would revitalize already sluggish economy“ ….. but what is seen today is – GOTABAYA who promised sky earth about making a palpable changes by introducing new laws and new systems has provably become „ PAYYAGELA LEBBE- totally a failure- SORYSENA with all the ridicules, was able to do some changes at least at the begining of GOOD GOVERANCNE govt“.
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As Gotabaya was a former millitary man, with some sort of DISIPLINE, and people, first time voters strongly believe, apolitical candidature of his nature would do for the future of the nation/youth. As proved sofar, GOTA does not seem to have the basic knowledge about „ sure instint of srilanken politics“. His decisions or not taking decisions will create a situation – surely going beyond LYBIA and IRAQ. With no supporters from WESTERN world for any plans fort he future oft he country, just relying on hypocratic CHINESE, this nation would be thrown to all depth, similar to fate of GREECE:
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Ajith / September 11, 2021
We made a King who is more powers than Lord Buddha and we have no right to ask he is wrong. This is a minor thing. Our former President and Current President are leaving this paradise to our enemy USA to celebrate birth of a new king of SL and to get the blessing of Pope under the leadership of an American who always had 15% share.
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Thiha / September 11, 2021
Cabraal is the worst crook ever to be CB governor. From the Hedging deal to buying worthless Greek bonds to engaging in the same bond scam that Baiyas accused the RW appointed governor. Thru social media a lie was perpetrated that Mahendran and RW both robbed money. The reality is the Money from the scam during that time was fully recovered and the real culprits were jailed. The reality is that the Singaporean government will never allow Mahendran to be extradited to Sri Lanka for they have in their possesion the reports identifying the real crooks. All the talk of getting Mahendran down and humiliating RW was just talk and a load of bullshit. Now Cabraal wants to be governor again. Why not. Diddly squat was done to bring him and his family before the law. We know that Punchi Banda serves as the most power full mnd in charge of the nations economy which he continues to ruin in violation of the law which banned him form holding public office due to corruption. So why not add another number one crook.
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R Fernando / September 11, 2021
Eran,
What you speak is logic that would mean something to a human being with conscience and commitment.
Rajapakse family never had either and they know nothing of embarrassment or shame at anytime in their family’s existence! Do you honestly think they would care two hoots to any of what you say!
Only thing that would excite them in to action is a challenge to their presently solid unshakable power base!
That threat too has to happen under wraps like in 2015!
If any of it done in a democratically acceptable format out in the open, grease Yakkas and white vans will appear from no where! We will have a heap of Asela Sampaths losing their lives!
This is current Srilanka! Take a deep breath and think carefully your strategy! You are a good man!
Unlike that sloppy slimy worm Ranil!
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Dilshan / September 11, 2021
Earn
Had you done your job properly from 2015-2019 we will not be in this mess. Your boss robbed you just kept quiet
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sanipa / September 11, 2021
Dilshan
Can you calculate the bond scam loss.
1. How is the loss calculated for a 30 year period and does it need discounting over 30 years..
1. The Central Bank reports that the weighted average after tax yield was 11.73%. .
2. The spread in the 26 bids that the Bank accepted ranged from 9.35% for a Bank of Ceylon bid of Rs 8.0m to 12.5% for a Bank of Ceylon bid of Rs 3.0b.
3. CBSL could have raised the Rs 1.0b that it originally wanted paying a rate of less than 10.5%.
4. If CBSL had raised only Rs 3.26b. (thrice the initial offer of Rs 1.0b), 11.25% would have been the highest interest rate that the Government would have had to pay and the weighted average rate would have been only 10.82%.
5. As per media reports CBSL could have raised Rs 5.6b at a rate of about 11.14%.
6. On February 27 the Central Bank accepted four bids – Rs 250m (11.5%), Rs 250 (11.75%), Rs 500m (11.99%), and Rs 1,000m (12.25%) – totaling Rs 2.0b that Perpetual Treasuries made.
7. In addition, media reported that the Bank of Ceylon bid for Rs 3b at 12.5% was also made on behalf of this company.
8. These bids carry some of the highest rates in the Rs 10.0b that the CB accepted .
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leelagemalli / September 12, 2021
Dilshan,
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Do you think -ERAN could make wonders as just ” state minister”… then, current today minister of health Ms Fernandupulle with all sound knowledge in COMMUNITY desease control, be able to take the most timely decisions, which are to prioratise vaccination with elderly and vulnerable age groups?????
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Just not providing VACCINE to the older groups, today the statistics make it very clear, that over 95% of the deaths occur since end of July to hitherto are over 60 age group.
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SRILANKEN CONSITUTION WOULD NOT ALLOW EVEN PREMIER TO FINALLY MAKE THE DEICISION. it is the EXECUTIVE PRESIDENT who to okay it …. KNOWING this, to put the entire blame, as BIASED media done/is doing, should stop at least today opening the EYES of masses who are in the clutches of RAJAPKSHE WONDER MAKING AGENDAS… we know Rajapkakshe would have been EXPERTS to killing tactics, but to govern the nation developing the economy – is not their cup of tea, they can become wealthy …. by filling their pockets which is the public secret today…. but have not improved anything in terms of education, job creation etc…. though the bugger et al may still be boasting about higher growth numbers… high growth numbers and indicators are connected with the LOADS of huge sums taken as LOANS but entered in tot he country …. please rethink.. thinking is a hard job though.
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Jaffna Man / September 11, 2021
Would someone enlighten me on the dollar shortage.
There are no dollars for sugar, milk etc. they say.
But I travelled from Colombo to California last week paying over $1000 for my flight using rupees with my credit card.
At Colombo airport I saw dollars being sold. So I drew Rs. 100,000 from my ATM and bought US dollars for that. If I had more rupees I would have bought more dollars since on my return it is likely that I can buy more rupees with those same dollars. (I think I paid Rs. 227 per dollar, a lot less than the black market rate in Jaffna).
Is the shortage only for ordinary people wanting milk powder and sugar?
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Plato / September 12, 2021
Interesting question Jaffna Man.
Gota knows that there is a Dollar shortage. Man knows!
This is the reason for the appointment of Ajith Nivard Cabral Esqr.who most probably had told Gota….. No problem we will print dollars.!
Prof: Lakshman refused so he was asked to go away.!
Srilanka is a Carnival under the Rajapakses with Merry-go-Round s and Musical Chairs as the Principal Principle mode of Governance.
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leelagemalli / September 12, 2021
Dear Plato,
***Prof: Lakshman refused so he was asked to go away.!
Srilanka is a Carnival under the Rajapakses with Merry-go-Round s and Musical Chairs as the Principal Principle mode of Governance*****.
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May be they dont have dollars in local banks.
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Not just dollars what is short of srilanka today is LAW AND ORDER
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Elephant IS IN THE ROOM no body speaks about him why ? 🤥🤥🤥🤥🤥🐃🐃🐃🐃🐃🐃🐃
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Buddhist1 / September 11, 2021
Which Judge has the guts, including the Chief Justice to go against the decision of the President? They do not want white vans coming to their homes. At this juncture what the Government thinks it needs is a ” Cook Appu” who can cook the books of the Central Bank, as it was done during Mahinda’s time when Government loans were parked in various Government corporations. Which “Cook Appu” is better than our Cabal-Rala? No one. While cooking the books he was sending CB money to the USA through the Foreign Ministry and then went to the USA with Namal Baby and had the “train dance”. Shamelessly he now demands pension and to be appointed illegally violating the Constitution as the Governor of the Central Bank. Not only that, he wants to be recognized as equal to a Minister. What a shameless crook. With all this, I have not forgotten how he got a job for his son with the Chinese Port City and his sister as Director of the CB Robber’s company. All in all, he is not only a “Cook Appu” he is also a “Crook-Appu”.
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Mahila / September 12, 2021
Buddhist1,
Well said. I can’t agree with you more.
Further this appointment process, of Ajith N Cabral (ANC) as Governor of Central Bank will certainly test the credibility of the government and especially the HE President, as a person of upholding the morality and independence of the position of the Governor, CBSL.
Which up to now has been the held by persons, by either
1. Impeccable qualifications in Macro/Micro Economic Finance matters, or
2. Those that had risen through the CBSL as Assistant/Deputy Governors well versed in Central banking.
“It is not merely of some importance but is of fundamental importance, that justice should not only be done, but should manifestly and undoubtedly be seen to be done,” – Justice Hewart
Similarly so, ‘Independence’ which attributes in “Fair play”, an integral quality in the position of the Governor CBSL as much as in ‘Justice’.
This certainly is the case in this instance, with unanswered questions on the reputation of ANC.
More questions than answers!
Since matters under forensic investigations by the CBSL, appointing ANC as the Governor of the same institution to head, is grossly improper.
Reflects on appointing authorities judgement to question above all, by electorate, lest ‘Failed State’
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leelagemalli / September 12, 2021
Former SLCB governor Arjuna Mahendran, revealed that there was no legal dept fOr CB under Ajith Niwata Cabral prior to 2015.
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The very same ll be the case next days ….under ANC again 🤥🤥🤥🤥🐃🐃🐃🐃🐃😡😡😡😡😡😡
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Simon / September 11, 2021
This appointment of Ajith Nivad Cabral to be the Governor of the Central Bank of Sri Lanka is the Litmus Test that President Gotabaya Nandasena Rajapakse has miserably FAILED which would lead the country to RUINES in the eye of the world. The Central Bank (of any country) is the most “Independent” (similar to the Judiciary) Institution that “Governs” the Monetary System, Banking System and “Regulate” the Economy for the country. To perform that function, this Institution must be “Headed” by a suitably “Qualified” (in all the sense of the word) person together with a “Team” of Experts in relevant fields.
Now consider who this “Cabral” is. He is a man who has come to the attention of the world-recognized “Forensic Audit” firms. More importantly, his “Dealings”, disbursing funds to the tune of ” $ 6 million, (ignoring all channels of approvals) with a “Pseudo” “Lobbyist” in the USA has been mentioned in a Court case, where the “Accused” (this Lobbyist) was sentenced to 12 years in prison. All these “Strictures” and many others against him are on record. So, is it “Justifiable”, “Moral” and “Honorable” to award an appointment to such a “Creature” (Dishonorable Crook) who must be investigated and put behind bars sooner than later? Who else would make such a “Selection” other than a person of “Similar” standings? So, it is “Jadiyata Moodiya” (lid to fit the vessel) fit.
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Mahila / September 12, 2021
Hi Simon,
Fully agree with you.
It would act as the ‘Litmus Test’ to ascertain, whether HE and government would entertain the affinity to ‘self declare’ SL as a ‘failed State’ (Hara Kiri), which is doubtful, but not outside the realm of matters which could happen going by last few years’ experience. Nothing is impossible.
true it is a very testing times! only time will expose that.
If and when that happens, the 6.9 million and the shepherds, who with intent, ignorance, tom foolery, deliberately to revenge invited the 225 Plus 1 – Supremo to govern like a Hitler fashion, will shriek with glee!
THANG SAPAI! BOHOMA SAPAI!!
Or will they plead,
THANG ATHTHI, SELLAMA NAVATHANDA! THANG NAVA GILINAWA!!
Perhaps latter to happen, the situation must escalate some more, to become like Zimbabwe and/or Uganda, where you had to carry a bag full of currency for 0.460 Kgs loaf of bread! Cabral would be of great assistance in this regard; printing money, SL Rs 25000 and 50,000 notes with his photograph to ensure money supply liquid and Food and Groceries supply to freeze
God bless Sri Lanka and Sri Lankans.
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leelagemalli / September 12, 2021
My dear Simon,
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It ll be like appointing a fox to a poultry farm as the guard….. anyway, with leadership being far stupdier than that of his predecessor – polonnaruwe donkey… actually, all experts in the field (bank sector) should come down to street … irrespective of all COVID threats, since, this ballige puthas appointment as SLCBG would excellerate the speed of sinking……
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*****Now consider who this “Cabral” is. He is a man who has come to the attention of the world-recognized “Forensic Audit” firms. More importantly, his “Dealings”, disbursing funds to the tune of ” $ 6 million, (ignoring all channels of approvals) with a “Pseudo” “Lobbyist” in the USA has been mentioned in a Court case, where the “Accused” (this Lobbyist) was sentenced to 12 years in prison. All these “Strictures” and many others against him are on record.**********
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SPOT ON my dear, but WHY is that AKD and Dr Wijesooriya and other powerful men, seem to be not articulating it loudly as they can. Did you listen to the manner b””putha added his usual vomits to Aljaseera lately ? I respect the manner Dr Silva made it clear, that the ridiculous truth regarding our problems are really the other way around than what Rajapakhe backlickers are trying to paint…..
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https://www.youtube.com/watch?v=57xPUP9HVuY
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Simon / September 13, 2021
Dear LM: I watched it. This “Bastard” is a shame on all Sri Lakans. That “$ 6 million” deal was brought up in Parliament by AKD. In fact, AKD revealed how that was “arranged” by one time “Monitoring MP” Sajin Vas Gunawardane. That is another “Bastard” who is very well protected by both MY3 and “Rajapakse & Co, Inc”.
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cugan / September 12, 2021
When our crook put nomination for prez EC commissioner Deshapriya clearly said its not his business to check the candidates status……as it stands now emergency/super power head,no obstacles, only Cabra have to do is get blessings from Asgiriya then everything as usual,
When they jailed and.humiliated SF what’s the masses done same as when released Duminda and put this dangerous man to serve the public….
Keep making kiribath and blur the pirith ………
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Jayel17 / September 12, 2021
What has been said is true, central banks has the power to manage and navigate the monetary policy of a country. If governments fiscal policies dragged to disasters, Central banks take counter measures. If CBSL become a government institution they always align and the independence is lost.
SL is one of the worst countries with no financial discipline and all measures are adhoc and deals. Totally mismanaged as they built the complacency as a result of winning elections and 20A. This is called “group think” of kitchen cabinet.
God Save Sri Lanka
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GATAM / September 12, 2021
Government bans imports but the president and the economic affairs minister are imports from USA!
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deepthi silva / September 12, 2021
True, Cabrall is not fit because he is not an independent man nor is he a honest man. In the Central Bank there should be a person who thinks outside of personal or political interests.
However , was Mahendran an independent man and did he not have a conflict of interests when his son in law was buying Bonds from the Central Bank ?
Son in law Aloysius was gifting posh houses to Finance Minister Ravi K and both got caught with their sarongs down !
Luxury loving Mahendran is Ranil’s closest friend who share dirty secrets and who appears on the Sri Lankan stage whenever UNP rank and file manage to put Ranil in power with difficulty.
Where was Eran when Mahendran was appointed and began to corrupt the system ?
Writing footnotes to please Ranil ! Other wise preaching high morals from the pulpit
What is Sanipa saying ?
What was CBSL from 2015-MAHENDRAN !
It is Mahendran who decided the bid volume, interest rate, which trader to inform of the bid, etc etc. If he needed backing of course he had it from Ranil/Ravi K the other conspirators against the country.
Who is the buyer ?
His son in law-Aloysius !
We cannot attack Cabrall while ignoring Mahendran
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Black Lankan / September 12, 2021
Dear Mr Eran, are you in Sorry lanka still or like many others have left the mother Lanka? Otherwise you would not have picked a topic like this. I thoght they were going to appoint the 2nd baby as the next governer with baby Namal over looking and Mahintha Mamy as a secretary. Aiyo this is the chosen land by Buddha who wanted this country to prosper in coruption, racism, nepotism and robbery. And poor Eran is talking of right and wrong in this Tear Drops Island. Mahintha maama and Sothy GL has gone to teach Italy how to manage its finance and democrazy. Hope he does not mix up the speaches written by G.L. Maha moron. And Gota sahodaraya is going to tell the UN how to safeguard human rights and humanity. Bro Eran you can better spend your time waiting in the bread and rice polima instead of talking of right and wrong in SL. I like you as a gentleman Eran but people like you are totally out dated and reduntant and waste product in Dhamma Deepa.
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Cicero / September 12, 2021
We have crooks on both sides. So no crook gets caught. they pat each others back after coming into power. Why cant we get rid of both pack of crooks and the so called Msha Sangha which gets benz cars from both sides. It is best to be ruled by bureaucrats and not by O’ level crooks. The army guys are no better. You get into the army because you cannot pass exams. We have a heap of morons on both sides handling the direction of the country.
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Mallaiyuran / September 12, 2021
They are going to rob the country again. They don’t want any infidels sitting in CBSL.
Thae R family has agency for Sino-pharm. That a plan to create competition to Indian and and Western medicine locally. They have broken the back of New King Families’ monopoly in the rice market. Load and loads of China in-consumable rice is going to show up. The arrangement to import China Hunu is compete. Any time the Badu will drop in Lankawe. There projects for China all over the Island, from education, hygiene, culture, archeology. restoring ponds, pools, old Building…….But the government is very violently blocking any investment that can bring in FDI, income and durable and consumable products. Cabal who funded the genocide war with 3 months LC, will all these. But Eran, Ranil, Mangala, Ravi and Harsha are part of these games.
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cugan / September 13, 2021
Tomorrow the pundits comes and predict and assure the people you won’t got short of $,like predicted Basil is coming to put the fuel price down,
What a combination of Basil and Cabral……on this partnership finance ministry-CBSL……..
52 days coup coming reality,back door is wide open,but people of majority ate happy that’s all the matter.
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leelagemalli / September 13, 2021
CUGAN,
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I wonder why just jail-released DUMINDA silva was not caught in the choice of the jokers ?
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52 day coup displayed their ablities very well – neverthless, people s choice paved them to return and loot. Not just bunch of facists in power, also those who paved the way them to grab power should be PUINISHed.
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So good riddance, though my heart is melting towards the poor that have to suffer today – being caught by the POLITICAL gimmicks of permanently ailing man of the lime light – M-RAJAPAKSHE. If he would fall dead during in his current entourage is highly questionable, when looking at him these days. Anyways, zimbawian Mugabe also acted like ” brave” until his last breath. So birds of a feather flock together, reminded me last night. looking at him.
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Buddhist1 / September 14, 2021
Cabal-Rala’s appointment as the Governor of the Central Bank violates the Monetary Act of Sri Lanka. A petition should be filed in the court. Kick him out!
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