Nivard insists ‘no discord’ with Basil

Saturday, 5 March 2022 00:55 - - {{hitsCtrl.values.hits}}

The Central Bank Governor Nivard Cabraal yesterday insisted there was no discord with the Finance Minister Basil Rajapaksa.

“There is no conflict between the Finance Minister and I work with him very cordially,” he said in response to a query posed by journalists at the post-Monetary Policy Review media briefing.

Earlier this week, former Cabinet Minister Wimal Weerawansa criticised Finance Minister Rajapaksa for ignoring sound economic advice from the Central Bank, adding that he had no time for a meeting with Central Bank Governor Cabraal.

However, Cabraal said that in principle the Central Bank has certain responsibilities on taking decisions on its own and to monitor that those measures are implemented.

“The Central Bank is responsible as the economic and financial advisor to monitor those policy measures and inform both the Finance Ministry and the Government on the same. As the Chairman of the Monetary Board as well as the Governor of the Central Bank, I have a responsibility to see if these policies are being implemented and to monitor its progress,” he said, adding that individuals can interpret in different perspectives.

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