Central Bank Governor

RBI became stronger, surer under Shaktikanta Das

The second tranche of the USD 2.9 billion IMF bailout for cash-strapped Sri Lanka would be finalised within the next month, central bank governor Nandalal Weerasinghe said on Friday. The government is expecting around USD 330 million as the second tranche of the USD 2.9 billion 4-year bailout, following the first one that was extended in March under the Extended Fund Facility (EFF) to support Sri Lanka's economic policies and reforms. Sri Lanka was hit by its worst economic crisis in history when the country's foreign exchange reserves fell to a critical low and the public came out on the streets to protest the shortage of fuel, fertilisers and essential commodities. We are making good progress with the first review. We will get the programme approved. What is required for that (is) assurances from bilateral creditors. The official creditor committee would be forthcoming, Governor of the Central Bank of Sri Lanka (CBSL) Weerasinghe told reporters. With that, there will be additiona

The organisers of the award said that Das' tenure which began in 2018, has been marked by a series of grave challenges, starting with the collapse of a major non-banking firm

There have been differences between the two groupings over the language used to criticize Russia's invasion of Ukraine

The IMF package will include budgetary support to Sri Lanka's government, which is a new element in IMF lending, he added

The governor of the Central Bank of Sri Lanka Nandalal Weerasinghe has cited the lack of independence of the apex bank in determining the monetary policy as a reason for the country's unprecedented economic crisis. The Sri Lankan government in May last year declared a debt default on over USD 51 billion in foreign loans -- a first in the country's history. Weerasinghe made the statement on Thursday while talking about a proposed bill aimed to provide autonomy to the Central Bank without any undue influence from the fiscal authorities or the government. "In 2020, 2021 and 2022, the policy interest and exchange rates were fixed without the Central Bank," Weerasinghe said. The exchange rate was fixed at Rs 203 leading to the total loss of our reserves and bankruptcy, he said, recalling the situation prevailing at the time of his takeover last year from his predecessor Ajith Cabraal. He said it was important to let the Central Bank act independently to determine the policy interest ra

The move was widely seen as Iran's latest effort to contain the accelerated fall of its currency's value against major foreign currencies in the past weeks

The minister is in Washington DC to the annual meetings of World Bank and International Monetary Fund, as well as the G-20 Finance Ministers and Central Bank Governors meetings

He will replace Zeti, who steps down as Bank Negara Malaysia (BNM) governor on April 30 after 16 years