Cabraal says he will steer the economy toward continued stability

In his initial statement after taking up office today, the new Governor of the Central Bank of Sri Lanka (CBSL) Ajith Nivard Cabraal has stated that he will not let down his countrymen and assured that the economy will be steered towards continued stability.

Cabraal mentioned that he looks forward  to the close cooperation of the team at the CBSL, along with the support from all stakeholders. Accordingly, it was mentioned that he intends to have early consultations with them.

“The government, bankers, importers, exporters, lenders, borrowers, investors, developers, service providers, industrial businesses, exchange houses, retailers, wholesalers and most importantly, the people of Sri Lanka must experience economic stability. It is then that undue fears are allayed, and damaging expectations are not escalated,” he said.

In order to achieve the above objectives, the Governor has outlined that the CBSL will need to provide clear and firm guidance to all economic stakeholders particularly at turbulent times, such as the current times.

“The Central Bank’s first and urgent priority under my watch, will be to provide clarity with regard to the movement of Sri Lanka’s macro-economic fundamentals in the desired path and thereby ensure stability in the financial sector,” he explained.

It was also added that the CBSL will announce a policy package in the form of a short-term Road Map, that could then be followed by all stakeholders.