PB-Nivard saga continues!

The apparent discord between Treasury Secretary Dr. P.B. Jayasundera and Central Bank Governor Nivard Cabraal took on a fresh twist on Friday when the former made some side remarks at a forum of Chartered Accountants, leadership to whom the latter gave once.

The 3% devaluation of the rupee via a Budget 2012 move had seen some crosscurrents between Jayasundera and Cabraal.

During his address as Guest of Honour at the Chartered Accountants’ annual awards for best annual reports on Friday, Dr. Jayasundera said: “Governors are there to keep inflation down; it is as simple as that. In some countries governors are legally required to step down if inflation is high. So we have made a comfortable, safe haven for our Governor to meet any governor and question their inflation. In fact our Governor is in a position today to question the Governor of the Bank of England on why the deficit is high, why inflation is high and how they manage the place. That in itself is an achievement.”