17 October, 2017

Government In Crisis Over Central Bank Governor

With a little over a month to go for the Maithripala Sirisena – Ranil Wickremesinghe coalition government to celebrate it’s first anniversary, the first signs of a split appeared this week over the appointment of a new Governor for Central Bank.

While Prime Minister Wickremesinghe insisted that his associate and senior advisor Charitha Ratwatte be appointed as Governor, President Sirisena had wanted to appoint the bank’s Deputy Governor Nandalal Weeresinghe, which resulted in a major deadlock between the two leaders.Rani Maithri

*Ranil and Maithri – Photo courtesy Shehan Gunasekara/ Facebook 

It is learnt that Sirisena had initially visited Central Bank on Wednesday afternoon with the intention of announcing Weeresinghe’s name as the 14th Governor of the Central Bank, but his plans was cut short after Wickremesinghe rushed to Central Bank with ex-Governor Arjuna Mahendran, to stop Sirisena from making the announcement.

On Wednesday morning, Sirisena addressing an event in Badulla announced that he will appoint the new governor ‘within a few hours,’ however more than one and a half days later; he is yet to make the announcement.

“President Sirisena was to make the official announcement at the Central Bank itself, but he was stopped by Prime Minister, who was unhappy with the President’s appointee and had insisted that Ratwatte be appointed as the new Governor,” sources told the Colombo Telegraph.

Further, during a heated debate between Wickremesinghe and Sirisena, the Prime Minister had claimed that the President cannot appoint a Governor as per his whims and fancies without the consent of the Finance Minister. “But despite this claim, the President with his powers can appoint anyone he wishes, but if he goes ahead and appoints someone of his choice, it can lead to a fresh crisis within the Government,” a source noted.

It is also reliably learnt that during a closed door meeting between the two, Wickremesinghe had threatened to walk out of the government if Sirisena did not heed to his orders. However, an exasperated Sirisena had challenged Wickremesinghe and his party to walk out.

Mahendran’s term came to an end on Thursday, and he announced that he will not seek a second term until the Parliamentary Committee on Public Enterprises (COPE) clears his name in the bond scandal.

Wickremesinghe had initially tried to re-appoint Mahendran for a second term, but his attempt suffered a setback after political and civil organizations pressured him against the move, citing Mahendran’s controversial history as Governor. The COPE has summoned Mahendran for an inquiry on July 7 to inquire into the Treasury bond transactions, based on the Auditor General’s report which was handed over to COPE on Wednesday.

Meanwhile, the name of the 14th Governor of Central Bank will be announced tomorrow, and highly placed sources claim that Wickremesinghe has won the battle against Sirisena.

“If this happens, it clearly indicated that Wickremesinghe is the one who is calling the shots, even though it is because of him that the Central Bank is in such a mess today,” the source said. Mahendran was appointed by Wickremesinghe. ( By Munza Mushtaq © Colombo Telegraph) 

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Latest comments

  • 12
    5

    Mokada aney Ranil Aiya??
    why can’t you get over NEPOTISM? You will be surprised when I say this ‘Mr Clean’! YES nepotism of ROYALIST superior blood!! If they are the best available then it’s OK! If they are corrupt whether Royalist or not it is NOT ok! Remember: Ranil, Ravi K, Arjuna M, and Charita R are Royalists we need to break this narrow thinking of Ranil W for his own benefit and the country at large!!! I cannot see why he has no insight to this narrow thinking of not looking beyond the four walls of Royal! His 2nd cousin nepotistic appointments are Lawyers! I still have some regards to the bu..rgar! But let me not lose it!

    • 6
      4

      No more Mr. Clean nonsense!!!! Ranil too is has been dirty bastard, but pretended to the world otherwise.

      If the President, don’t act like a man and appoint a right person to keep the CB going smooth without going under anyone’s pressure, the mass will topple this government as well…

      /Huna

  • 10
    4

    Riveting stuff even for non Yahapalana Suckers..

    Batalanada Rail threatens to walk out of the Government because he can’t appoint a another mate of his ( and also clan member as I predicted ) for this CB gig.

    Bodhi Sira who was hired by Batalanada’s backers says “Bring it on”.

    This is political drama at its best.

    What is in there at the CB for Batalanada to risk it all, thinking people may wonder….

  • 8
    3

    WOW….BATTLE OF THE BLUES…COLOMBO ROYAL VS POLANNARUWA ROYAL. A NEW CENTRAL BANK CUP IN MAKING.
    DISCE AUT DISCEDE!

  • 8
    4

    Ranil is playing a FOOLS Game with the corrupt crook Mahendran and digging his own grave.

    There is no smoke without fire and in this case there is a great deal of smoke that only the blind will not see Mahendran’s lies..

    The Central Bank Governor must be above allegations of corruption and Ranil playing politics on this is going to back fire.

    Ranil’s devotion to due process is strange and must mean he has something to hide here, since he is also sheilding Wimal Weerawansa who should have been arrested for having numerous passports but has still not been taken in due to Ranil interferening with due process..

  • 6
    8

    What is natural justice.Looks like there is no such thing when it comes to Tamils in Srilanka. It is abominable when certain journalist fall into this trap and keep digging to find something to propagate racism.
    When a man is cleared by the high courts of any wrong doing but he is still hounded by racists elements of press and parliamentarians is pathetic. The racism is encouraged by certain people who have their own interest and unfortunately they have some ready platform to spread their racists philosophy.

    • 5
      5

      Mr. Proudman,

      When will you guys ever stop playing this communal card whenever a wrong doing person happens to be a Tamil. Ethnicity is irrelevant when it comes to wrong doing. Tamil politicians such as GG. SJV and etc managed to light the fire which burnt out a whole generation and it’s time to bake a different cake now.

      Please stop this nonsense of playing the communal card for anything and everything. Be fair to the present and the future generations.

      Please note, I am a Tamil myself by ethnicity but I am more proud to consider myself a Sri Lankan first, second, third and always.

      • 3
        1

        Kargi, take my node to your wise comment.

      • 4
        1

        Kargi many others felt the same many many years ago. However if you were to lose members of your family to indiscriminate killings by no other than the state, lose your whole house and furniture in the many riots that have happened in this island all typically government sponsored or with tacit government support, stopped and arrested upteen times for the simple reason that one’s name is Tamil, would you still be the same. Even if you were a Sinhalese and if you were treated in this manner, then things would be worse than how a Tamil passively handles it.

      • 1
        0

        Kargi
        Do you know what you have written or are you under the influence of kerala ganja?
        Read what I wrote. I pointed out the injustice done by the racially biased journalist.
        Do you think they will write such rubbish if the person concerned was not a tamil.
        A man who is accused of certain acts but was cleared by the highest courts in Srilanka of any wrong doing. What do you expect the natural sequence of events after the court ruling in any civilised nation. Did it happen here? No
        Why not?
        IMO it is because the person involved is a Tamil, that is the fact.
        Tell me what is wrong in me pointing this out?
        You claim to be a Tamil that is your prerogative I am not going to ask you for your identification. I know the former captain of SL cricket team , a muslim, changed his name to Dilshan Tillakaratne so he could captain the SL cricket team and he got the captaincy, that was his decision no one can question it, similar to your claim. Coming back to my point it has nothing to do with playing communal card as you think.

  • 6
    1

    Maithripala Sirisena – Ranil Wickremesinghe

    Why do you have a problem getting rid of a poorly performing Central Bank Governor who is not quite ethical?

    Lethargy? Replace him and just move on.

    Everybody is wasting too much time on this.

  • 5
    2

    CT

    This is not huge problem that is made out to be.

    The prime minister can persuade his friend Arjuna Mahendran to go on gardening leave. Police should be instructed to investigate the whole bond issue thoroughly until it unearthed evidence and charge those who were involved in the bond issue.

    Why this is allowed to drag on indefinitely, while snipers within the bank and outside are allowed to take shot at Arjuna, RW and MS.

    Is it a drama played out to get maximum publicity so that the public is forced to focus on this political plots than on their own life problems?

    I have lost many valuable hours reading this garbage, can I now claim compensation for mental torture caused by Arjuna, RW, MS and media if not from Mahindapala or IH?

    • 2
      4

      Dear Native,

      Are you serious mate..

      Batalanada even as late as Yesterday told the Colombo Elite that his mate Mahendran is clean as a Whistle.

      And not one, but three of his Agencies cleared Mahendran of any wrong doing.

      And you tell CT that Mahendran should be investigated by Police.

      Which Police do you have in mind?..

      You ought to pull your head out every now then and see what is going on in Yahapalana Arena, instead of chanting Bagwat Geta 24/7.

      • 5
        1

        KASmaalam KA Sumanasekera

        “Which Police do you have in mind?..”

        Come on KASmaalam, why do you doubt their honesty and integrity?
        Incidentally, most of the senior police officers were either promoted or recruited by the clan and served them well (Anura). Have you lost faith in the serving police officers and judiciary too?

        If that is the case why not import Scotland Yard and a few lawyers and judges from South Africa?

        You undermine the credibility of this country’s national institutions. You are a traitor, working for the diaspora, Vellala, Abrahams, and a secret admirer of VP.

        How many Malt did tempt you to switch sides or are you part of long time Pottu Amman’s sleeper cell?

        Traitor.

    • 0
      1

      Dear native,
      I expected something better from you! You say its not a huge problem? This is a huge problem as the Governor’s role is very critical to a better future of the country! if you are not aware of what took place at the CBSL then please check this out at https://www.yamu.lk/video/the-bond-game-the-whenever-show-w-indi/. Its a simple explanation. Please note that Perpetual securities is the Primary Dealer who was involved in the scam and Governor’s son in law was a director and resigned after it was exposed! He is still the owner of the parent company Perpetual Capital Holdings. The scam is know as “Insider dealing”

      • 2
        2

        RuwanL

        All what I am saying is we do not have time for Bond Games, the state must get on with police investigation and charge the fraudsters and get it over with. Claim back what is due to the people of this island.

        By the way thanks for the clip, I really enjoyed it.

        • 2
          0

          You are welcome Native! I don’t think the police can do it on their own as it need some exposure to how the Primary Dealers work! It is interesting to investigate how they do it and what happened to the all the money they made!! That may be the reason the PM wants his man to take the job!!

  • 8
    0

    Ranil and Malik gave the order to steal from the Bond issue. f anyone other than their inner circle gets appointed to the high post their fate is doomed, its simple as that.

  • 7
    2

    Hats off to CT as they are the only media to expose ranils nepotism other than Maharaja, everyone else is including wijeya newspapers is bowing to him. All other websites operated by mangala have also sided with him. good job CT keep exposing this thief.

  • 6
    2

    Hope the new Governor of the Central Bank is better equipped for the job. If not ousting Arjuna Mahendran at this stage might end up disastrous.

  • 4
    0

    What is the truth behind the story circulating in social media that when Ranil threatened to walk out of the government, he said that he will form an alliance with Mahinda?

  • 6
    0

    What exactly is RW trying to cover up?

    • 3
      0

      “What exactly is Ranil trying to cover up?”
      It alleged that following the prez election in Jan 2015 the UNP was broke and in debt to the tune of Rs.3bn. The profits (or losses to the country)was used to bail out the UNP. Ranil, it is alleged is trying to protect Mahendran to ptotect himself. A tell all from Mahendran could land Ranil in a spot of bother.
      I am not accusing anybody but nothing (sinister) is impossible in Sri Lanka.

  • 4
    9

    A welcome development. If Mahendran is found guilty beyond reasonable doubt, prosecute him and the courts judge him and punish him as harshly as possible. He or anyone for that matter should not be subject to mob justice. Let former CJ, Shiranee Bandaranayake, be the last person subject to mob justice by the executive and parliament, in this country. Even the ruling of the Court of Appeal was rendered irrelevant by the ruling mob. Mob justice is not dead in this country yet. It is hunting for victims and any opportunity is grasped hungrily. Some so-called Civic groups are also joining the pack of wolves that have found an opportunity to lead the hungry pack in the current circumstances. This is sad!

    I am glad RW stood upto MS and ensured due process was ensured, in an issue involving a senior official in this land. It is a welcome precedence. Decency has once again has been given the opportunity to show its face in this country.

    Dr.Rajasingham Narendran

    • 2
      4

      Shame on you man for being blind to such irrefutable facts. And you call yourself a doctor! Bugger all.

  • 0
    1

    [Edited out] We are sorry, the comment language is English – CT

  • 2
    4

    Things do happened sometimes, though hard to believe them. The president should comes to grips with the fact that he is HE today mainly because of UNP’s votes. If not, as he himself eloquently said once, he might have been buried under, and grass could have overgrown. Wise people might be saying, he would be a fool to challenge the incumbent and that is it.

    Now, it appears that he into this fold-” power corrupts and absolute power corrupts absolutely”. He doesn’t have any credibility to think he won the presidency by himself alone, as such, to exercise power vested in the executive unilaterally. We all voted him to chase corrupted and tyrannical MR regime away and restore the democracy, because MR and Co haven’t had any empathy to the plight of ordinary folks but wanted to earn as much as they can for their family and to transform SL ruling to monarchy. Together and with unconditional support of minorities, they achieved what was intended by CBK, RW, Ven.Sobitha and MS. Then won the national election as well, and formed the National Government, have they been trying towards achieving the goals for which such a government formed for. Pussy footing far too long, they would end up with some excuses for not being able to achieve it when the next election comes. The president’s main focus should be on things that voters voted him in rather than falling out with the PM on a Central bank governor’s appointment.

    Sort out the main issue, so the history will record this guy came on a difficult time, restore democracy, did reconciliation and put the derailed country on a path to development and gone. Does he have that kind of leadership quality?.

    • 1
      1

      The President is getting ready to control the government in its totality. Next casualties will be RK and Defence Secretary! Good for him!

  • 6
    0

    What are Charitha Ratwatte’s academic qualifications to be appointed as Governor of the Central Bank[CB]. Nothing. Did he pass his SSC. He must be in his late 70s. No one with political affiliations should be the G of CB. We have already seen what happens with Arjuna. We know Arjuna is a good fellow. He has already lost his credibility. There is nothing to prove anything about it. Ranil is the bloody culprit and scoundrel who put Arjuna in this position by going to find money for the election.

  • 2
    3

    Fact is RW finally yielded to public pressure,he thought CB issue can be managed like he does UNP internal affaires !

    Now judicial panel must investigate the money trail…

  • 6
    5

    Suggest both President & PM cool off on this issue. Let Mahendran continue until such time COPE makes a decision whether Governor
    Mahendran faulted or not. Mahendran has not reigned but holding on
    until COPE proves that he faulted. It will be hell to pay if he is
    found not guilty and this is possible as he is well prepared to face
    COPE. Governor’s job is not a ‘god all mighty’job and any experienced economist, who is familiar with current global market practices and knowledge in banking will be able to handle this job and let the CC handle the selection. There should not be any friction between the
    Prez and the PM on a trivial matter like this and do not let the opposition have a hay day and add fuel to the fire. FM should be brought into the scene so that these three could go by majority decision, democratically if CC is not called upon to do the selection on merits.

  • 2
    3

    The best thing is letting the president doing it.

    If the PMs decision wins, it’ll short live and the split will widen and may lead to another election as possibility of forming stable government is remote.

    Is Ranil planning a journey with FM Fonseka after the political marriage?

    In that case; FM Fonseka isn’t an easy to guess guy so UNPers; you’d better think twice and advise Ranil.

  • 4
    2

    Ranil will definitely want his stooge Charita Ratwatte as Central Bank head to cover his corruption carried out along with Arjun Mahendran. If not why cannot he accept an independent person. So much for Yahapalana.

    • 5
      0

      President has appointed dozens of men regardless of their records as Deputies including that Lanza from Negambo who is said to be the GIANT mafia man surrounded by varioius drug traffickers to the country. Mr Medamulana s direct mediation was proved by his direct taking part in the arrest of him – 2 years ago. So all in all, this business will move the way it is… I still believe Arjuna is made a victim by politicians in the fielld. His is credible when someone closely listens to him. Nor international records on him, added to net proving him to be a corrupted person except biased thoughts focusing on HYPOTHETICAL SUMS being made by locals.

  • 3
    3

    since mahendran was appointed by ranil,this time the choice should be given to sirisena.What kind of coalition is that which wants to select everyone every time.Siri should just tell ranil to piss off because he made a hash of the selection he made and now wants to select someone who is a relative or in the close inner circle to whitewash what happenned in the CB.Ranil must remember that without siri he would not now be the prime minister,and because people had lost faith with the UNP it had about a 25% vote base,running down from ts once mighty 40% all because of ranil’s leadership.An extra 10 % or so voted this time for the UNP thinking they can’t now have their own way because sira is the president.Now that same ranil who brought the vote base from 40% to 25%,though he got this time about 35% due to sira,is again trying to have his own way as usual.What he can do with the UNP he is now trying with the SLFP.

    Ranil if you want to go,go.People have been clamouring for that leadrship change for the last 12 years since you got thrown out in 2004.

    I heard you yourself have brought in a good leader into the UNP recently.

  • 3
    1

    If there is nothing to prove any thing wrong with Mr. Mahendran ,why all guys are crying ?

    • 4
      2

      david

      because the auditor general says that 1.6 billion rupees has been lost to the country due to mahendran.Now w emust see who made the profits of 1.6 billion,because if someone has a loss,then sombody else has got a profit.

      Also we must find out into which bank accounts the profits ultimately went to because there is a strong talk that it went to UNP depleted coffers after the election.SO it is in the UNP’s interest to clear its name by asking the auditor general to trace the audit trail of the profits cncerned and clear the UNP’s name.Because people on the street are talking and the backlash will be severe at the local government elections.Postponing the ele ction will not save their arse and will only make it worse.The rajapakshes have now a hope of gaining power at the grassroots level,just like chandrika did to the UNP when she took the LG and provincial elections first and became the president.

  • 1
    1

    There is two views in present ruling regime that discard proper hearing in the ongoing national political debate of an appoint of CB governor.

    1 The current the UNP led regime has denied to recognition of democratic political institutions need accepts that Right of individual our nation to safeguard diversity domestic economic vested interest of country and the sustainable development of capitalism.

    2 The UNP leaders and policy makers an advocated of IMF, WB,ADB & WTO of that foreign interest is priority of national economy.
    We have to surrender national interest to Foreign capital, that including management and administration of whole system of nation governance of democracy run by foreign agents or their companies.

    That is about how that people of Sri Lankan must change, their path and model shitted to Depend capitalism an Investment and Trade become more attractive to USA, UK, EU, Japan and Indian capital advocated by UNP current leadership.

    The critics national forces of that against US and Indian multi-nation financial system more than an idea that the vested interest of Global banking and financiers should come before taxpayers of people of Sri Lankan.

    This policies of UNP-Ranil W… headed by that prevents national economic protections from obtain benefits at expenses of majority people of our nation ,when no significant public purpose is at stake.

    Even UNP leadership argument that with nation converging towards the lowest level of corporate taxation, financial regulations, of environmental, labour and consumer protections will benefit development of an economy.
    That is myth of UNP political democracy will be benefit by the US and Indian monopolies

    If we did not have the institutions by our own management like Central Bank which instruments available to shape and maintain national fiscal and monetary policies , the domestic economy diversity will become meaningless.

    This proposed policy advocated by UNP leadership in case of an appointed of CB Governor is that seems to be undermined national interest. And achieving this goals that seek nation prosperity stability, freedom of democracy in politically and its good governance quality of life will be disappear from national political agenda.

    We have been denied by UNP leadership that set of Neo-colonial policies that cannot uphold national interest in all areas, when trade and investment wholly that threatens domestic practices economics engaged by majority people of an Island.

    Ours been challenge by question of national political debate might raise by wise people of Sri Lankan?

    How much social and economic disruption does the fiscal policies in question threaten our development and growth of GDP by CB guidance?

    An appoint of CB governor will support domestic is essential there for practise regulations or standards to stake?

    The CB governor will appoint goes to the wrong person that will be adverse effects felt by particularly economic progress & disadvantage of people of Sri Lankan?

    If wrong man who sit in this chair like Arjuan Mahadarn of CB governor how large are the compensating national economic development benefit if any?

    My argument is we want to ensure neither legitimacy nor economic advantages. If we moving wrong direction of CB in catastrophe will not wait. It is advancing with terrific speed. We are verge of finical disasters!

    Well, indeed globalization of national economy and global investment can make an important and decisive contribution national economic development.

    But their role is to reinforce the political integrity of WILL of majority national democratic process rather than replace by foreign domination of Neo-liberal political-economic system of governance by purely foreign capital.

  • 2
    0

    An entire nation and its future, hope and aspirations are being held to ransom by big egos. The JO saw this issue as strategy to split the gov and both of you are falling into this trap. Other than for Nandalal and Charitha can you have consensus on another nominee and move on. We can’t afford this episode of “game of thrones”

  • 4
    1

    Who is Charitha Ratwatte ? other than his “close” friendship with Wickramasinghe does he posses any basic qualification to hold such a position as Governor of Central Bank.Appointing one Ratwatte as CEO of SriLankan is bad enough and appointing another as the Governor will be a National Disaster.

    Let us hope the president has the guts to make the right choice.If the Senior most Deputy Governors of the Bank are not to be considered in view of their alleged allegiance to former Governors then let someone with requisite credentials from outside be appointed.In this country one cannot find anyone who is not connected to someone in power one way or another

    This country is sick of Ranil Wickramasinghe and his coterie of Royals

    • 2
      1

      Man you need to have some faith in the persons when appointing guys for highly important positions of the country. You guys could just leave your evasive thoughts, but PM is a person who see it beyond the moment. Had he been OTHER way around, the PM would not have been PM of the day when considering all the attacks he was gotten alone during the few years.
      And the fact but the truths as it is, he will stay clean further. There are secrets that would not want to leak here… CB of a country is the key financial body not your pockets.

      Meeharaka Rajaakshe did it with his family, but RW will see it with close ones.

      • 0
        3

        With above comment, Sam Fernando has shown again once more, how a donkey he is! Many reports say how AM made money from CB out of bond scam. Even the Executive President of the country accepted recently. And COPE too. More than anything else, the Auditor General has clearly said, some billions (in Rupees) have been missing and should be investigated where the money has gone.

        Every one has his/her own taste with a political party. But one should not be that BLIND and act like a donkey, or a buffalo, endorsing all the blunders of his political masters do.

        • 2
          0

          Please consume more Punnakku to stay in the mode further.
          MaxES are the wild weeds we got inthe country. Curse on you.

        • 0
          0

          No minute being wasted for Max. They are just born idiots.

  • 0
    1

    Will Sira join Mahinda or Batalanada join Mahnda..

    Smart money will be on the latter, for obvious reasons..Plus

    China will be back back on board to fix the Balance pf Payments.

    Singaporean can be shipped back to where he came from without much collateral damage to his mate Batalanada.

    Batalanada can give something to Vellalas without getting rolled.

    Armed Forces can be saved from humiliation from having to get punished by White Judges.

    Bedouin Prince can be directed to spend his time on more serious issues in Turkey and elsewhere, and do an honest day’s work.

    Dalits will be happy if they get a good deal .

    More than anything else Batalanada can even have an interdenominational Pansakula with all our Nikayasa in attendance .

    And Venerable Nalaka thero even will be happy to say a few good words to invoke some merits on Batalanada.

  • 1
    0

    In the past,way back 1995 onward, how many times EPF money had been utilised to overcome problems confronted by politicians to save their faces.
    The problems could have been those created as a result of interfering
    to appointment of Senior Govt. officials, who were political stooges.

    Let the so-called Civic groups who are also joining the pack of wolves that have found an opportunity to lead the hungry pack in the current circumstances, brief the AG and Cope to investigate the above, as well.

  • 0
    0

    pight pight MAARA Fight

  • 1
    2

    Who says ranil is MR.clean he is currupt from J.r.time too. Arjun is a LTTE’s head hunter who was appointed by ranil.during elections all the funds came to U.N.P from diaspora via mahendrans son in laws company in singapour.for this is pay back time for partners in crime ranil,for the party, Arjun and the clan.so now ranil can’t do anything it like holding a tigers tail.if you let it go she will bite.what shame on this guy ranil.

    • 0
      2

      Zaha.

      You didn’t hold back….

      Good on you mate…..

  • 2
    3

    MahaJaraapassa must be having the last laugh now. By the way where is the prodigal son in law cum arch crook Aloysius in all these discussions?

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