A response to Central Bank Chief’s toxic remarks

Saturday, 27 August 2016 00:00 - - {{hitsCtrl.values.hits}}

I must congratulate your paper for the quality of independent reporting. I was amused with some of the remarks made by our new Governor. It must be a cultural cliché that we Sri Lankans don’t care about the past and hold people accountable for their past actions.

In the front page of the FT on Wednesday, Dr. Coomaraswamy says Sri Lanka had in the past a toxic combination of populist policies often reflected in National Budgets and a deeply-entrenched entitlement culture which led to a non-virtuous cycle. However, Dr. Coomaraswamy noted that today prospects for Sri Lanka looked much better due to factors such as peace, growing international good will and strong ties with both the West and capital-surplus Asian countries as well as the country’s strategic location.

Dr Coomaraswamy is now happily condemning the past Government for mismanagement to secure his retirement. Dr. Coomaraswamy was a key Advisor to Nivard Cabral. What did he do to change that culture? He was seen on TV with former President Rajapaksa at meetings.

He forgets that while Sri Lanka was fighting a bloody war, he was living in the UK. On his return he worked for the notorious Raj Rajaratnam who was allegedly funding the LTTE. Can he deny this? The Government without appointing a Central Banker who stood by the country without running abroad preferred to appoint a retiree of the past because he played rugger with the Minister in charge of exports. One paper calls Dr. Coomaraswamy a renowned economist, a reference normally made to a celebrated person. What a joke!

Dr. Coomaraswamy without talking too much must get down to earth and reduce the cost of living and investigate the EPF plundering that took place and expose the culprits involved in the bond issues. We have had enough of these sermons from turncoat professionals. A response is welcome, Dr. Coomaraswamy.

Davinda