Three new Assistant Governors for CB

THE Monetary Board, with the concurrence of the Finance Minister has promoted three Assistant Governors, the Central Bank announced yesterday.

They are Dr. P. Nandalal Weerasinghe and B.D.W.A. Silva with effect from 27 September and C. Premeratne with effect from 1 January 2012 to the posts of Deputy Governor. Details of their careers are given below.

Dr. Weerasinghe has over 20 years of experience in the Central Bank, especially in the field of economic research. His wide experience spans in the fields of economic and price stability, economic growth, international finance, international trade, fiscal policy, reserve management and global economic issues.

Currently he is working as an Alternate Executive Director of the International Monetary Fund in Washington DC representing Sri Lanka, India, Bangladesh and Bhutan. He also held the position of Assistant Governor in-charge of Economic and Price Stability.

He holds a PhD and M.Sc from the Australian National University and B.Sc General degree from the University of Kelaniya. He has authored many articles in reputed international and local journals in the areas of inflation, monetary policy and economic growth.

He has been a visiting lecturer at the University of Colombo, visiting research Economist at the SEACEN Research and Training Centre and a resource person for high level courses in Economics conducted by the Bank. He has also addressed both local and international seminars and conferences to represent the Central Bank of Sri Lanka.

Dr. Weerasinghe immensely contributed on recommending appropriate economic and monetary policies on time to maintain the economic and price stability of the country as the Director of Economic Research.

He has served in many committees appointed by the Central Bank including committee to Study Commercial Viability of CEB and CPC, Financial Sector Monitoring Committee/Ministry of Finance, Petroleum Refinery Project Coordinating Committee, Uma Oya Multi-purpose Development Project Committee, Committee to Evaluate Swap Arrangement with Malaysia and various Cabinet appointed committees including Economic Development and Management, Power Generation Expansion, Hedging Risk Management.

He has also served as an observer on the Boards of Directors of Ceylon Petroleum Corporation and the Board of Investments. Dr. Weerasignhe is a regular speaker at various forums in different capacities, especially in the area of economics.

Silva has been in the Central Bank for over 28 years and has wide experience in the areas of financial system stability, price stability, monetary and exchange rate policy, external trade, balance of payments and inflation. Prior to this appointment he held the position of Deputy Director of Economic Research, Director of Bank Supervision and Assistant Governor.

Silva holds a MA Degree from University of Iowa, M.Sc. Degree from University of Illinois, USA and a B.Sc. Degree with a First Class from the University of Jaffna. While serving as a Director Bank Supervision, Silva has taken several initiatives to ensure safety and soundness of individual licensed banks and strengthen the existing prudential regulatory measures and implementing Corporate Governance.

As the Assistant Governor, Silva supervised departments of economic research, domestic operations, international operations and Employees Provident Fund. In the price stability area, Silva was instrumental in initiating prudent policy measures to maintain the economic and price stability in the country.

Silva has been a resource person at the University of Colombo, Centre for Banking Studies of the Central Bank of Sri Lanka and the Institute of Bankers in the fields of Economics, Statistics and Econometrics. He has also authored many articles in the area of economics.

He has served in many committees and boards appointed by the Central Bank including the Credit Information Bureau, Standing Cabinet Appointed (Special) Procurement Committee (SCAPC)/Ministry of Petroleum, Rehabilitation of Embilipitiya Paper Mill and Kantale Sugar Factory and Asian Clearing Union.

Premaratne has served the Central Bank for a period of 32 years and has experience in the areas of Economic Research, Public Debt Management, Currency and Human Resources management. Prior to this appointment, she held the position of Assistant Governor in-charge of Currency and Policy Review and Monitoring Departments.

She holds a MA in Development Economics from Williams College, USA and B.Sc. in Public Finance and Taxation from University of Colombo. As the Superintendent of Public Debt, Premaratne took several initiatives particularly, with the objective of improving transparency of debt operations, streamlining debt management activities and broadening Government Securities Market.

Further, she has delivered a valuable service in coordinating and negotiating with international investment banks, rating missions and bi-lateral creditors and she also actively participated in discussions with international organisations on policy formulation at the Economic Research Department on behalf of the Central Bank. In addition she served in the Ministry of Finance for a period of one year leading the project to set up Public Debt Management Office.