News

Decisive Cabinet meeting tomorrow

An important meeting of the Cabinet of Ministers is scheduled to take place tomorrow (3), which will also be the first meeting of the Cabinet for 2022.

The Cabinet, which last met on 20 December 2021 under the patronage of President Gotabaya Rajapaksa, had decided to call Central Bank of Sri Lanka (CBSL) Governor Ajith Nivard Cabraal and Treasury Secretary S.R. Attygalle to discuss the current economic challenges faced by the country and the way forward at tomorrow’s Cabinet meeting.

The President has directed the Cabinet Secretary to request Cabraal and Attygalle to attend the Cabinet meeting to discuss the economic crises.

During the last two Cabinet meetings Cabinet Ministers had discussed the need to float the rupee as well as seeking assistance from the International Monetary Fund (IMF) to fund solutions to the present crises at length. Ministers Vasudeva Nanayakkara and Bandula Gunawardena have cautioned the Cabinet about seeking IMF assistance, with Nanayakkara even threatening to quit the Government if it approached the IMF.

However, Nanayakkara had failed to present any alternate solution when Prime Minister Mahinda Rajapaksa questioned him about his alternate proposals.

Meanwhile, the President had informed the last Cabinet meeting that Cabraal, Attygalle, and then President’s Secretary Dr. P.B. Jayasundera, had advised against floating the rupee and seeking IMF assistance. It was then that a decision was reached to call Cabraal and Attygalle for a discussion with the Cabinet.

A senior Cabinet minister told The Sunday Morning: “Tomorrow’s Cabinet meeting will be decisive as we will discuss the issues faced by the economy and measures to be taken to address them.”