Colombo Telegraph

CB Governor Mahendran Is Missing In Action: Opposition

“If current economic affairs keep continuing, the value of the rupee will end up at 150 against the Dollar” opposition lawmaker Bandula Gunawardane said last night.

The Central Bank Governor – Arjuna Mahendran

Addressing a news conference in Colombo he said; the joint opposition would report to the newly appointed Committee on Public Enterprises (COPE) regarding the controversial Treasury Bonds issue once the budget period was passed in parliament. The Treasury Bonds Sale was the main reason for the record depreciation of the rupee against the US Dollar.”

“Central Banak Governor Arjuna Mahendran who is responsible for these outcomes is nowhere to be seen. If someone needs to meet him, they would have to travel to Singapore to reach the governor.” Gunawardane said.

Issuing a statement in last March regarding the controversial Treasury bond issue of 27 February, the Transparency International Sri Lanka said; “TISL is of the view that there is a clear case of insider dealing which is a form of corruption, which can only be unearthed with a credible investigation. The public has a right to know who were exactly involved in the questionable insider dealing.

“TISL is of the view that it is only right that the Governor temporarily steps down from his position to ensure the space for an independent probe and that the faith placed upon the Central Bank by the public is respected. The government has a responsibility to safeguard the highest level of integrity in the Central Bank, which is the main regulator in the country.”

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