Following months of intensified protests, Prime Minister Ranil Wickremesinghe finally crumbled under pressure and has assured that controversial Central Bank Governor Arjuna Mahendran, will not be appointed for a second term, until investigations against him are concluded.
PM Wickremesinghe
According to a spokesman of the Purawasi Balaya, Saman Ratnapriya, Wickremesinghe has assured the civil society organization that Mahendran will not be re-appointed until the investigation against him by the Committee on Public Enterprises (COPE) is concluded.
However, amidst reports that until the investigations conclude, an acting governor will be appointed to oversee the functions of the bank, has resulted in a fresh issue, as the Monetary Law Act (MLA) does not permit an Acting Governor to oversee functions of the bank, unlike for other public bodies.
According to a senior economic expert, a new Governor must be appointed for a full six year term, at the conclusion of Mahendran’s term which will come to an end later this month.
“If someone is not appointed from outside, the provision in the MLA is that the Monetary Board will designate the Deputy Governor as Senior Deputy Governor and he will function as CEO of the Central Bank; in the current set up, that would be P Samarasiri who has been permanently designated as Senior Deputy Governor,” the expert noted.
However, Samarasiri is alleged to have had a hand in the bond scams, which will put the government including President Maithripala Sirisena in a bigger fix, if such a person is allowed to head the Central Bank.
According to the MLA, “In the event of the temporary absence from duty of the Governor or of the temporary inability of the Governor to perform his functions and duties, the Deputy Governor designated as senior by the board shall act as the chief executive officer of the Central Bank and shall have authority to execute the powers and perform the functions and duties of the Governor under this Act.”
The expert also disclosed a new dimension, in relation to Section 24 in the MLA, which states that if there is a Governor who is unable to perform his duties; it is not applicable when the Governor’s term is over and either him or another person has not been appointed. “In that case, Governor’s position falls vacant and the Monetary Board cannot designate the Deputy Governor as SDG. Hence, the President has no choice but to appoint the incumbent Governor or someone else as Governor in terms of the law,” the expert noted.
Hence, he noted that taking the current situation into account, and in the interest of good governance, the President must appoint someone else as Governor for the full 6 year term and appoint a special commission of inquiry into the allegations leveled against the incumbent Governor and certain officers of CB. “It is widely believed in the market that some officers at EPF and Public Debt have become corrupt and are collaborating with Perpetual Treasuries in the questionable bond transactions,” he added.
John Exter, the founder and architect of Central Bank of Ceylon has emphasized upon the need to ensure that the Governor of Central Bank should be an individual with ‘unquestionable integrity.’ In page 20 of the Report on the Establishment of a Central Bank for Ceylon, Exter who details the qualifications of the person to be appointed as Governor in his commentary for guidance of the appointing authority; has said, among others, the person to be appointed should be of ‘unquestionable integrity’.
silva / June 20, 2016
Now that they all together have opened the Pandora’s box, let’s appoint one of them as the governor! What about Saman Rathnapriya!
/
Amarasiri / June 20, 2016
PM Ranil Wickremesinghe
RE:Arjuna Mahendran Saga: Ranil Crumbles Under Pressure, But Economic Experts Say ‘Acting Governor’ Contravenes MLA
//”Following months of intensified protests, Prime Minister Ranil Wickremesinghe finally crumbled under pressure and has assured that controversial Central Bank Governor Arjuna Mahendran, will not be appointed for a second term, until investigations against him are concluded.”//
What was the controversy?
Controversy
In February 2015 CBSL advertised the sale of Rs. 1 billion in 30 year government bonds at an indicative rate of 9.5%.The sale was oversubscribed with 36 bids of totaling Rs. 20 billion.[11] The majority of bidders, 26, bided for Rs. 100 million or less at a rate of 9.5%–10.5%. However, a few bidders, including Perpetual Treasuries Limited, wanted interest rates of 11%–12%.[11] On 27 February 2015 the CBSL accepted Rs. 10 billion in bids at rates of 9.5%–12.5%. The issuing of ten times the advertised bonds, and at a higher than expected rate, was alleged to cost the Sri Lankan government an additional Rs. 40–45 billion ($300–$340 million). Perpetual Treasuries was issued, directly and indirectly, with Rs. 5 billion in bonds at 12.5%. Perpetual Treasuries was one of the primary dealers in the sale and is owned by Mahendran’s son-in-law Arjun Aloysius. This situation became a controversial political issue in Sri Lanka as the newly elected Sri Lankan Government of President Maithreepala Sirisena came to power with a slogan of good governance in the country. A three-member Committee of eminent lawyers was appointed to investigate the issue and the report produced by the committee claimed that there was no direct involvement by Mahendran in the deal. The Supreme Court of Sri Lanka did not grant leave to proceed in a fundamental rights case that requested a separate inquiry into the bond issue, as no laws were broken.
https://en.wikipedia.org/wiki/Arjuna_Mahendran
Is Mahedrean Qualified and Experienced? Appears to be Yes. Anyway what are Basis Qualifications to be Governor? Do they need a Ph.D. in Economics?
So, where was the Problem? Ethics, with the Bond issue as well as the credit card issue.
Arjuna Mahendran is a Sri Lankan Tamil born Singaporean economist and banker. He is the current Governor of the Central Bank of Sri Lanka (CBSL), having been appointed by president Maithripala Sirisena in January 2015. He was the former Managing Director of HSBC Private Bank, Chief Investment Officer of Emirates NBD as well as Chairman and Director-General of the Board of Investment of Sri Lanka. In January 2015 he was appointed as Governor of the Central Bank of Sri Lanka.
Education
He was educated at Royal College, Colombo in Sri Lanka and at Balliol College, Oxford, he gained a MA in Philosophy, Politics and Economics
/
don Juan / June 20, 2016
Mr Amarasiri
I cannot comprehend the point you are making. Are saying that Mr Mahendra, should remain in office because he is a tamil, because he obtained a MA from a colonial decadent country, because he is a christian or because he is a citizen of another country?
or because he is Ranils friend, and friend of Rajaratnam f convicted of fraud in USA and who sent 4 billion rupees to the financeinister on behalf of tamil separatists?
Is Mr Amarasiri saying that play boy activities of Mahendran to the tune of 20 million rupees of personal expenses at bank’s expense was ok because he is a terrorist sympathiser?.
Or because he embezzed the country to the tune of 90 billion rupees ,not in one bond auction but two within one year. Is it true that part of the money went to fund separatists and most of it was payed to UNP for its election campaigns and bribery of parliamentarians to buy their vote?
/
Amarasiri / June 20, 2016
don Juan Dharmapala,
The point is that
1. The Controversy and why why is an issue.
2. He seems to have sufficient qualifications.
3. He seems to have sufficient experience.
4. He is lacking in Ethics, based on what transpired with the Bond Controversy, a major one, and his recent misuse of credit cards. All these point towards an ethics Issue and honesty issue.
5. The fact that he is Tamil is irrelevant. The issue is not his being a Tamil.
However, given the controversy with the Bonds, one wonders, why his education and experience did not better prepare to avoid such controversies.
/
silva / June 20, 2016
Amarasiri,
No one talks about Cabraal’s sister’s connection to Perpetual Treasury. This whole saga is rooted in Cabraal’s period. Those within CB and PT may have done insider trading and put the blame on AM! That is why a through investigation by professionals is needed covering Cabraal’s time too.
/
Amarasiri / June 21, 2016
silva
“No one talks about Cabraal’s sister’s connection to Perpetual Treasury. This whole saga is rooted in Cabraal’s period. Those within CB and PT may have done insider trading and put the blame on AM! “
We do not know the whole truth. May be Arjuna Mahendran and others know it. They should expose, if it was Cabraal and his cronies. after All he was Governor for 6 years.
/
Paul / June 21, 2016
If he went to the Royals College why are we wasting time here? He has to be the best candidate compared to P. Samarasiri’s. ( from the name I can guess he can’t be The Royals product).
I have a small query though: has Arjuna Mahendran passed SL A/L exams and gained admission to a SL university? Or did he pay and get a degree from Baila College?
/
Paddy / June 20, 2016
The huge difference is people and civil society groups are now able to protest and be heard unlike two years ago. For that alone let’s be thankful.
/
Leel / June 20, 2016
What did Ranil do all this time? Didn’t he promise to appoint another capable comity after his fist comity recommended to appoint a capable comity of expert who has the thorough knowledge on the subject?
/
Punchiburampi / June 20, 2016
If we accuse anyone hypothetically – we should have know the basics at the institution to do so.
Did CB own independently functioing legal departement prior to AM s appointment ?
Please answer to this question – that can reveal all the bit to JVPers, or any others that call AM as corrupt. pLEASE leave the blatant lies away from the truths for the sake of the nation- all the press men should be convicted for their wrong views. That is where transparency starts.
/
Silva / June 20, 2016
“According to a spokesman of the Purawasi Balaya, Saman Ratnapriya, Wickremesinghe has assured the civil society organization that Mahendran will not be re-appointed until the investigation against him by the Committee on Public Enterprises (COPE) is concluded.”
“However, Samarasiri is alleged to have had a hand in the bond scams, which will put the government including President Maithripala Sirisena in a bigger fix, if such a person is allowed to head the Central Bank.”
Well let’s appoint a board of Central Bank Governors comprising Rathnapriya, Dewasiri, Viyangoda, Wimal Weerawasa, Bandula Gunawardena, TG, Dayan Jayatilake, Pubudu Jagoda and et al! Hay! We will have the best Central Bank in the world! Let’s do it neda! Machang Ranil, don’t bayawenda, they will do the job niyameta!
/
srinivasan / June 20, 2016
I agree. Let Ranil along with his few cahoots- Karunanayagam, Mahendran, Sambandan, Wineshwaran and NGOs and CIA and diaspora shred the country to pieces, so that diaspora and americans and norweguians descend on us like vultures to eat the dead carcass.
/
MsMaralathoni / June 20, 2016
Man what have you been uttering ? Nobody born to lanka would go against their folks. Any sane ones would get it easily, it was all blatant lies that MR regime spread to stay in power – today the rulers have to find all solutions since MR men have not done the job to word, though their press men stay reporting supportively them. Lanka and the current rulers face high profile problems today with lanken totally wrongful press and not being able to search for the billions being grabed by Rajaakshes and their unethical and unmoral men.
The days to come, we will definitely know more, if the allegations being levelled at Rajaakshe apologists are true or politically instigated. We patiently wait to see that, me particularly, as one who lived on the west but have been alert as no other firmly believe Rajaakshes and their supporters have done the job as it is read int alibaba and 40thieves.
/
Seelawathie Jayasinghe / June 20, 2016
These are the fairy tales that the vulnerable have been fed by Rajaakshes to stay in power. At the time, this government came into power, there had been all kind of stories being passed to the gulliable folks – electric chair was the most common word, that would wait to capture MR for all the harm done by him during the war end. But all these disspaeared with the new rulers – why ? You as others have swallowed the bitter pills as no others, Those men – press men [Edited out] are set to do the job that way, that there are western men waiting to invade lanka. Lanka may be located on a fortunate place for sea routers but a country that has no oil or diamond, so why the westerners whould at once invade lanka is a my question with numbers of other destinations becoming open to westerners if they really want.
/
srinivasan / June 23, 2016
Yankees are neocolonialist power of the so called west.. US , as their successive presidents from John F aKennedy have claimed that US is the Super Power of the world. Us Through CIA killed the first ever elected democratic leader in South America (Allande, the president of Chile) in 1972. CIA, as leaked reports that emerged in March this year confirm, conspired with the Apartheid Regime of South Africa to arrest Neson Mndela.
US tried to destabilise India in 1970s and 80s by supportingSeparatist movements in Tamil Nadu,Panjab and Assam.
lately, US invaded Iraq and Afganistan on the pretext of ushering in democracy by bombing the countries. Then US and UK, France Italy ushered the infamous Arab Spring by funding the NGOs and CIA.
You can see the destruction of once stable countries- Syria, Lybi and , Tunisia.I Norway, Sweden, and Denmark, are the American agents in Asia ,and Africa.British and French cannot shed their COolonial mentality.
In Sri Lanka CIA and its agents dressed up as NGOs are ruling the country. Like the Mafia of Italy it has tentacles spread into every sphere of Government?
Who is Soratha. He declared himself as the champion offor abolition of executive presidency. Then He campaigned vigorously for Ranil’s party. But Soratha could not explain how he found 6 million rupees to deposit for very high interest in a secret account in Lalith Kotalewala.
Lalith Kotalewala, if nedd reminding, made surrilous attacks on Buddhism in Sri Lanka and He lead a public campaign against Soma Hamuduruwo. For Soratha to deposit money in this Finace Company shows the connection between NGOs, CIA, Sinhalese who proclaim to be buddhists and minority religions in Sri Lanka.
One must remember that few years before Allende of Chile was killed, S W R D Bandartanayake was killed by two buddhist priests whom Mr Bandaranayake trusted as friends.
/
Sama / June 20, 2016
At least few like you see it right.
I respect you that much for your thoughts.
Silva, may all gods be on your side to inform these nitwits sufficiently.
/
Don Stanley / June 20, 2016
Mahendran and Cabraal must be held accountable to ensure FUTURE Accountability of CB governors and ensure that never again will this kind of looting of the national economy happen at the Central Bank.
Civil society should ask for the assets of Mahendran and Nivard Cabraall to be frozen and Perpetual Treasuries investigated.
A full investigation of Mahendran and Nivard Cabraal and their bond scams, insider trading and currency manipulations is necessary.
It is not enough to simply ask that Mahendran’s contract has ended – and let him off to go and live the high life on his ill gotten gains in Singapore!
/
Amarasiri / June 20, 2016
Don Stanley
“Mahendran and Cabraal must be held accountable to ensure FUTURE Accountability of CB governors and ensure that never again will this kind of looting of the national economy happen at the Central Bank.”
Are the central bank officials now behaving like Politicians?
Not accountable to the people or the politicians who appointed them?
The Central Bank of Sri Lanka (CBSL) is the central bank of Sri Lanka. Established in 1950 under the Monetary Law Act No.58 of 1949 (MLA), it is a semi-autonomous body and, following the amendments to the MLA in December 2002, is governed by a five-member Monetary Board, comprising the Governor of the CBSL as chairman, Secretary to the Ministry of Finance and Planning and three members appointed by the President of Sri Lanka, on the recommendation of the Minister of Finance, with the concurrence of the Constitutional Council.
Vision
A credible and dynamic central bank contributing to the prosperity of Sri Lanka.
The vision clearly indicates that the Bank is deeply committed to contributing to the prosperity of Sri Lanka. The term prosperity has a wide connotation: enhancement of the quality of life of people through sustainable wealth creation and inclusion of all segments of the society in enjoying the benefits of development.
Iconic CBSL Building
The Central Bank facilitates this process by ensuring economic and price stability and financial system stability while providing prudential and pro-active policy recommendations, as the Advisor to the Government on Economic Affairs. In doing so, the Bank acts with the highest degree of integrity and professionalism, earning respect for its objectivity and apolitical stance.
List of former Governors;
John Exter (1950-08-28 – 1953-06-30)
Deshamanya N. U. Jayawardena (1953-07-01 – 1954-10-13)
Sir Arthur Ranasinghe (1954-10-14 – 1959-06-30)
D. W. Rajapatirana (1959-07-01 – 1967-08-30)
W. Tennekoon (1967-08-31 – 1971-05-31)
Herbert E. Tennekoon (1971-06-01 – 1979-01-22)
Dr W. Rasaputram (1979-02-15 – 1988-11-18)
Dr Neville Karunatilake (1988-11-19 – 1992-06-30)
H. B. Dissanayaka (1992-07-01 – 1995-11-14)
Deshamanya A.S. Jayawardana (1995-11-15 – 2004-06-30)
Deshamanya Sunil Mendis (2004-07-01 – 2006-06-30)
Ajith Nivard Cabraal [1] (2006-07-01 – 2015-01-09)
Arjuna Mahendran [2] (2015-01-23 – )
https://en.wikipedia.org/wiki/Central_Bank_of_Sri_Lanka
/
Sam Fernando / June 20, 2016
What is if the hypothetical sums counted by YOU guys would not have been proved by COPE in a few days ? still you want to go against his reappointment ?
Why ?
Is it becaues the gentleman would for sure do his best reveal all the high fraudsters in the near future ?
I am for his reappointment man… all the men that have a brain would say yes to his reappointment.. basta let uni dons to clear you goo filled brains. Let alone ask unbiased journos to do the job questioning why the Kabal made that kind of high sums away from being ciculated in the country ?
/
Dodo / June 20, 2016
[Edited out]
/
silva / June 20, 2016
“Exter who details the qualifications of the person to be appointed as Governor in his commentary for guidance of the appointing authority; has said, among others, the person to be appointed should be of ‘unquestionable integrity’.”
Please give me one!
/
Soma / June 20, 2016
The PM is more an ameba than the President.
Spineless shit, got the Governor to give up a lucrative job & totally messed him up .
I have absolutely no faith in this current government.
RW himself will be out on the wilderness soon.
Shame on you Ranil, not to be able to dig your heels & get what you want done.
Disgraceful
/
silva / June 20, 2016
RW must not bow down to every kolla and balla. The job of these civil activists are over and they don’t have a say in everything the government does. Nor Sirisena can decide who should be the CBG because this is not his government. UNP can separate itself from coalition today itself and form a government. Then it can freely act without the burden of the Rajapskaha pilli in key positions of the government. People have given a mandate to RW to rule for 5 years and it is his job to honour the mandate he received from the public and not act according to the whims and fancies of the so called civil activists. Those clowns would come and go but it is RW who has to answer the people in 5 years. I think he must chase away these civil activists and let present governor continue. He must have a through and impartial investigation conducted into the bond scam and if it finds AM guilty then sack him and appoint a new governor. He cannot run the government like this. He must be firm and bold in decision making. He must also control and get rid of those riff raffs floating around creating hurdles for him.
/
Sam Fernando / June 20, 2016
Absolutely,
There is nothing wrong CBG to continue. These hypothetical sums they believe to have lost can be calculated not only for bonds but also any other cases such as avandgarde or other frauds that have long been mapped by them. Why is that the hypothetical sums are being done only for bond scam issue. Alone the fact that there had been no independently functiong legal department for CB at the time, Arjuna started his work as a GOVENER should be more considered than anything else. So many issues interms of taking decisions had been kept away from the people and even the experts during the days of Rajaakshes. Today, he and his men behind the scence work hard to cover all these – is the greater problem.
As you say, as a PM you cant listen to every simple simons and their thoughts, what should be is considered it the majoratarian thoughts if one woudl work respecting democractic values.
/
Leel / June 20, 2016
RW was a fail man. He completely failed in 2001 – 2004. This time he came to power because of venerable Sobith hamudurowo and other civil society groups. If RW contested along, even the 1/4 of UNPers would have not voted for him. If he contested along the rouge Mahinda would have won the election.This time also he is going to fail the way things are happening.
For example take VAT problem. The government impose 15% vat for private medical consultation chargers. But Vat is exempted for fags and liquor. Why he did it. Because he fails always. No exception this time.
/
KA Sumanasekera / June 20, 2016
Is Singapore Mahendran’s spell on Yahapalanan PM, Batalanada Ranil is more potent than Pharaoh’s Curse?.
/
vas / June 20, 2016
Yahapalanaya is no more than Yamapalanaya – Governance from hell A 19th amendment was made to bring justice for the people. What justice Try complaining to the Police Commission or Judiciary service commission. You willbe lucky of they acknowledge but you will never get a reply. This is no better than the fake JRJs Dharmishta society that turned out to be the most Adsarmishta.
/
vas / June 20, 2016
This is yamapalanaya not yahapalanaya. Governance from hell
/
harry hatton / June 20, 2016
Colonials have a tendency to worship English institutions like Balliol,Oxford,Eaton,English accent etc. This is mostly among pretentious people like Ranil W who have not gone to any of these places nor has a British accent and only speaks in squeaky middle class Singlish.
Those who have gone there , and those from other backgrounds( non-colonial ) know that these schools dont really matter later in life. These schools also produce their share of duds, con-men, crooks, confidence tricksters while also producing good decent people. Life is more fair and gives a chance to everybody, not only the children of crooked Asians who can afford to educate their children in England.
There are more successes, even in England by those from such backgrounds than old boys of these colonial remnants.
So Ranil deciding whether to appoint or not appoint a “man” in his own image, is immaterial.
The question is who put a man like that in a position of a decision maker ? Look around the appointing authority ( the people) are all around ! Ha ha ha
/
Suresh / June 20, 2016
Spineless [Edited out] PrimeMinster.
You too will be gone quickly.
What you do to others comes back to you.
Let’s see who is going to run around & get things done for you, when you are down & out again.
This time it ll be forever.
You have ruined Arjuna Mahendran’s career, by listening to post sell by date people who call them selves civil society.
Pity I voted for you & not for MR
/
Sam Fernando / June 21, 2016
You guys are all caught by lanken MEDIA mafia still run by Rajapakshes supporters.
So even if a person could be genuine is being painted other way around.
Ask yourself why some of the news related to Mafia king et al is not read in lanken tabloids ?
Why why why ?
Give us constructive arguments who have been abusing the press freedom if not media mafia men run by Rajaakshe goons even today.
/
Mediawatcher / June 20, 2016
One fact reported here is untrue. Mr. P. Samarasiri has not been officially permanently designated as the senior deputy governor of the Central Bank of sri Lanka. There is no such position in the bank. For a short period of time when the governor is absent, monetary board appoint someone at the time depending on who is available in the country. There are three Deputy Governors at the Bank and he comes second out of the three deputy governors. When governor is absent for a long period of time, usual practice of the monetary board is to appoint the most senior deputy governor as the acting governor and currently Dr. Nandalal Weerasingheis is the most senior deputy governor in the Central Bank. You can verify this from the bank.
/
Diogenes / June 20, 2016
Most suitable person for the post: Pivituru Gommanpila!
/
Sunil Jayasinghe / June 20, 2016
It is factually incorrect to say that P Samarasiri is currently designated as the Senior Deputy Governor. In terms of seniority, qualifications and experience Dr P. Nandalal Weerasinghe is the most senior, most qualified, most respected and least controversial person among current three deputy governors. Mr samarasiri was promoted as DG in June 2014 and Dr Weerasinghe was promoted as DG in August 2011, more than three years ago. Mr Lankatileka was promoted only in 2016.
/
Chanka / June 20, 2016
12. (1) The Governor of the Central Bank shall be appointed by
the President on the recommendation of the Minister in charge of the
subject of Finance;
(2) The Governor shall devote his full professional time to
the business of the bank; and accordingly the Governor shall not accept
or hold any other office or employment whatsoever, whether public or
private, and whether remunerated or not:
Provided, however, that nothing in the preceding provisions of
this subsection shall be deemed to prevent the Governor from accepting
or holding any academic office or position or any office or position in
an institution or organisation, established for the purpose of carrying
on research in the subjects of economics, money, banking, statistics
and finance, or from being appointed to be or acting as a member of
any commission constituted under the Commissions of Inquiry Act for
the purposes of any inquiry relating to monetary, banking, financial or
general economic matters or questions affecting the national welfare of
Sri Lanka, or of any council, committee, or other body investigating or
examining, or advising upon, any such matters or questions.
13. (1) The term of office of the Governor, and of any person
appointed under paragraph (c) of subsection (2) of Section 8 (hereinafter
referred to as “an appointed member”) shall, subject to the provisions of
subsection (2) of this section, be the period of six years commencing on
the date of his appointment:
Provided, however, that the term of office of the first appointed
member holding office under this Act shall be the period of three years
from the date of his appointment.
(2) In the event of the vacation of office by the Governor or
by an appointed member before the expiration of his term of office,
another person shall be appointed in his place to hold office during
the unexpired part of the term of office of the Governor or member so
vacating office.
16. The President may, on the recommendation of the Minister in
charge of the subject of Finance, remove the Governor or an appointed
member from office–
(a) if he becomes subject to any disqualification mentioned in
section 11; or
(b) if he becomes permanently incapable of performing his
duties; or
(c) if he has done any act or thing which, in the opinion
of the President is of a fraudulent or illegal character or
is manifestly opposed to the objects and interests of the
Central Bank; or
(d) in the case of the Governor, if he acts in contravention of
subsection (2) of section 12.
/
Elsa / June 20, 2016
DG NANDALAL WEERASINGHE WAS EXPEVTING THE POST OF GOVRRNOR WHEN CABRAAL RESIGNED.
He did not get it.
He is close to the President & is the person who is [Edited out] to the JVP & the press hoping to get rid of Mahendran & get himself the seat ASAP .
Samsrasiri is a very honorable man but won’t say the same of the oil slicked WEERASINGHE
/
Mudson Silva. / June 20, 2016
Bring Bank Ali Baba and the 40 Notorious thieves back!!
/
sr / June 20, 2016
We’ve had enough talking about Mahendra.
Appoint a new man to function the CB and in the meantime start legal procedures against Mahendra’s alleged corruption.
Even if he’s innocent It’s Mahendren’s fault to be a subject for doubt; failure to show integrity.
Is Mahendran sacred for GG government?
/
silva / June 20, 2016
sr,
“Appoint a new man to function the CB and in the meantime start legal procedures against Mahendra’s alleged corruption.
Where the fuck on earth is legal procedures are started against “alleged corruption”?
Even if he’s innocent It’s Mahendren’s fault to be a subject for doubt; failure to show integrity.”
Get a colonoscopy done to verify whether your asshole has migrated to your baldi mouth region.
Where the fuck did you learn this law? From MARA?
/
sr / June 20, 2016
“Where the ….. against alleged corruption”
please substitute “investigations” for legal procedures.
Be thankful for letting you have a chance to release your preciously kept words.
“Where the fuck ……”
Look at my topic sentence; I think my idea goes with that.
Don’t take legal point of view of that.
I think the ability of anybody to avoid false or even concocted charges should be appreciated.
Doesn’t it let smooth flow of activities?
/
Silva / June 20, 2016
sr,
Your paradigm shift was very elegant, precise and blemishless. And I love it.
“I think the ability of anybody to avoid false or even concocted charges should be appreciated.”
Everybody only sees the tip of the iceberg but its huge bulk never reveals itself. Arjuna can never shatter this mammoth and hidden iceberg because it is set up, concocted and phantom. These are all cooked up and hypothetical allegations that have been levelled against him. On the other hand these allegations may also lead to insider trading that could very well have existed and continued from the time of Cabraal. Cabraal’s sister works in the Perpetual Treasuries and Allocius’s PT has done these dealings from Rajapaksha era. The EPF, BOC, Central Bank and may be some other staffs and Cabraal will have to be investigated to find out the real facts about these questionable txs. What I say is that while all those rogues are left unscathed, protected and uninvestigated they all have very conveniently targeted AM! Why? Because it is not AM but RW that they want to attack and defeat! This is the truth behind all this. The unpalatable truth to all these activist fuckers et al is that so far RW has achieved all his goals, managed MS, had required laws passed and above all shows signs of recovering from and overcoming the economic destruction Rajapaksha and the gang did to this country. If he is allowed unhindered, uninterrupted and scott free, he will definitely solve the economic, societal, political and aspirational problems of the country and UNP will make the strongest and longest lasting reentry to country’s political space. In that event what will happen to all these [Edited out] like Nirmal Dewasiri, Jagoda, AKD and JVP, CaFFE sucker Keerthi Thennakoon, Gamini Viyangoda and others who have found a convenient way of keeping their moronic brains occupied by targeting an easy target. Because they cannot attack RW they attack AM! Their calculation is how can RW run the country when he cannot find a governor for the CB! The most subtle scenario behind all this is that these people do not know that they are being manipulated like puppets by a secretive project whose mission is to destabilize and destroy this government. The overall picture gets completely blurred and obscured when everybody-JVP, activists etc- in the antic wagon tries to have his or her portion of the cake while fishing in troubled waters.
/
Roshan / June 20, 2016
I think many readers would agree that if you need a man of unquestionable integrity then Mr Chandra Jayaratne the good governance activist would be the man to be appointed. His other qualifications such as Finance degrees will be added qualifications
/
Samuel Jayaweera / June 20, 2016
Finance degrees will do nothing but the experience over the years in the kind of institution will do more. That is the prereuisite here. Here you cant do the job if you have obtained just the degree even if you are a PhD er.. you could go wrong with lack of years long experience.
/
Bagehot / June 20, 2016
We all saw Jayaratna’s so called integrity whilst he kept mum during MR’s tenure, now having styled himself some sort of good governance activist. We don’t need more cardboard heroes.
/
Silva / June 20, 2016
Roshan,
” if you need a man of unquestionable integrity then Mr Chandra Jayaratne the good governance activist would be the man to be appointed. His other qualifications such as Finance degrees will be added qualifications “
The only knowledge I have on him is that the joker now and then runs to the courts with a petition to sue someone. And 200% of the times his pethsam padanguwa finds it way to the court’s dustbin. What the heck can we do with such a buffalo in matters of country’s financial management in the most volatile global economic context? RW very correctly started out with a person of talent and global exposure to manage his government’s economy. Fucking unquestionable integrity alone cannot deliver anything if it does not meet the aspirations and requirements of leader of the government, RW.
/
Plato. / June 20, 2016
silva.
Your comment@ 12.43AM-June 20th.
I could not have said it better!
/
bganendra / June 20, 2016
Why not appoint Wimal Weerawansa or Mervin Fernando.
In fact Mervyn holds a DOCTERATE and he could be the best choice.
/
Plato. / June 20, 2016
BBC reports that Indias Governor of the Central Bank Raguram Rajan is due to step down from September.
He was a former IMF economist,who was one of the few to predict the 2008 financial crisis and has been praised for handling of the Indian economy,which is now the fastest growing major economy in the world.
One of his detractors,a Senior figure in the ruling BJP party has said that he was mentally not fully Indian because he has a US GREEN CARD!
He has a best selling and brilliant book-Fault Lines.
Why is there so much fuss with respect to Arjuna Mahendran? Is it because he is a Tamil?
Srilanka has never had a Tamil Governor of the Central Bank:OR is this to make things difficult for the PM?
Ajit Nivard Cabraal,the former Governor for 9 odd years was honorable eh? Notwithstanding the Pyramid scams and the Hedging deal!
/
Mano / June 21, 2016
No one should be surprised. The Government was advised, and troops trained, by Israel.
Israel has been condemned by the UN for using cluster bombs in Lebanon, and they killed many children even later on, when they played and came upon the unexploded ones.
It is always a bad idea to get involved with a rogue nation that has a terrible record of human rights violations, and a history of bombing unarmed civilians.
/
justice / June 22, 2016
How about getting rid of the CB officers who actually conducted the Bonds Auction, favouring the Perpetual Treasuries – the firm owned by Mahendran’s Son in Law ?
Should not they at least be transferred to some other department of the CB, so that they cannot influence/conduct future auctions?
In any organisation, there is a deputy/second-in-command who covers up in such situations, temporarily.
The post of CB Governor should be advertised nationally and internationally, and the best person chosen/appointed.
/
Grass eating human ,, / June 22, 2016
This Sagara has turn into a wild circus ..
let us all humble ourselves and eat grass
/