David Ricardo Wednesday, 25 September 2024 10:18 AM

Rhetoric vs Reality sets in. I hope the new president got a taste of the difference between "economics based on principles" and "economics based on opinion". Hon. Ranil Wickremasinghe articulated ideas grounding on economic principles. Unfortunately, majority could not understand this. When they realise it, then it will be too late. The man who shouldered the responsibility of steering the economy out of trouble in 2022 was rewarded by burning his house down and sending him out of presidency. See the CB report yesterday. The overall inflation has dropped to 1.1% in August. Other macroeconomic indicators show very positive movements. Ayyo, Sri Lanka!

Reply 219       147

Indi Wednesday, 25 September 2024 10:19 AM

If NPP expect to continue with this governor you are going same path as previous government and no validity of our votes who expected change economic policies.

Reply 75       119

Samy Selvarajah Wednesday, 25 September 2024 10:27 AM

I believe that was good move by the President for having a good discussion with the Central Bank Governor. God bless our country to find a better Governor than the present one.

Reply 26       119

Ram P Wednesday, 25 September 2024 10:28 AM

Nande made some statements that IMF agreement cannot be changed etc. After the election results announced IMF said they are happy to speak to the new leadership. I wonder what Nande had to say on this

Reply 27       134

Indi Wednesday, 25 September 2024 10:35 AM

If NPP government expect to continue with this governor you can't expect much change in economic policies of previous regime. Then our votes are totally waste

Reply 45       89

No promise breaking please Wednesday, 25 September 2024 10:58 AM

Looks like Anura will be leading Ranil's team.

Reply 14       12

FredSnR Wednesday, 25 September 2024 11:22 AM

Changing a govt through an election is normal, part of the democratic process. But Central Bank Governor, that's a more permanent position which is occupied by professionals. And the report only says they had discussions.

Reply 0       15

Dr. Terrence Abeykoon Wednesday, 25 September 2024 11:34 AM

Hon. President Anura Kumara, the general public feel that CB Governor was appointed by Gota and then going on with Ranil, obliviously he is not suitable to carry on with you. Either he should resign, or you will have to replace him Sir.

Reply 14       8

Suresh Wednesday, 25 September 2024 11:36 AM

People should give AKD enough time to settle down and understand the state of affairs talking to experts and bureaucrats. AKD will be more pragmatic than anyone thinks.

Reply 1       19

Justin Samarakoon - Snr. Economist Wednesday, 25 September 2024 11:37 AM

Nandalal can work with Ranil as he will be a puppet listening to his commands, but with you that joke will not work. You want the right people to work, and this man is not suitable, replace him soon with some of your professionals.

Reply 10       15

Prasad M Weerasinghe Wednesday, 25 September 2024 11:38 AM

Let the political view of the people, and the technical expertise of the Central bank prevail in their own domains, and balance what is best for the country. Looking at the comments, important to note that neither you nor I are the President or the Governor

Reply 9       5

H.M.D. Fernando [Attorney-at-Law] Wednesday, 25 September 2024 11:40 AM

Dr. Nandalal Weerasinghe, please hand-over all your records whether it is clean or un-clean and step down soon before it's too late. You cannot work with this Legend anymore, enough you worked for Mr. Bean.

Reply 10       16

Duke Victor Perera - Senior Economist Wednesday, 25 September 2024 11:42 AM

His Excellency President, you don't need to follow the same footsteps Ranil-Nandalal did, you establish your own clean zone in the Central Bank. You have plenty of options in your professionals list.

Reply 4       15

Citizens Wednesday, 25 September 2024 11:46 AM

@gon David, RW was part and parcel of the present sri lanka situation, he was in the politics for donkeys years, he did not do wonders, he borrowed more loan from IMF, india and china, there will be a time comes to pay back with interest. New president now only taken charge, you want wonders to happen over night?

Reply 3       16

sam Wednesday, 25 September 2024 11:48 AM

This chap should have resigned like the PM, Governors and others.

Reply 3       11

Aela Wednesday, 25 September 2024 11:50 AM

The majority has understood Ranil's duplicity very well and given their verdict accordingly. The less said about Ranil's so called 'Principles' the better.

Reply 4       8

John Frazer Wednesday, 25 September 2024 11:59 AM

Half the NPP statements are simply rhetoric to get the public attention. We all know what happened to Gota . he came with a comfortable mandate but could not do public chased away. Unless Anura focuses on the job the same thing will repeat. He must be very careful just chasing the Current CB . We all know from May 2022 to up to now how preofessionaly they steered the country.Nandalal has good experience, he can work for any foreign govt or any international investment bank. It’s a foolish idea to get rid of him.

Reply 8       18

Sokrates Wednesday, 25 September 2024 12:01 PM

The CB Governor is a Rajapaksa Crook who has continually adapted the important cornerstones of a "currency guardian" to the wishes of the respective presidents. He has manipulated the foreign exchange rates and greatly inflated the inflation rate. This man must be fired. Ranil has also not had any economic successes to his name. It is all eyewash. He was only able to eliminate the fuel and LPG queues by using foreign currency that was intended for medicines, which caused many people to die. Ranil was a wannabe dictator who ignored court decisions and the constitution just to stay in power. A man who achieved nothing during his presidency and for whom no one needs to shed a tear.

Reply 8       19

Reformist Wednesday, 25 September 2024 12:06 PM

SL needs a capable set of well rounded professionals and NPP should round them up. There are seasoned high calibre professionals of Sri Lankan origin currently working in Treasuries and Central Banks of Australia, UK and USA. I am sure if approached they will be willing to provide their expertise to the new government. They are top class well educated and well experienced professionals in public finance, economics and management. Why not approach them? Change we do need.

Reply 3       14

Roni Kaila Somadasa Wednesday, 25 September 2024 12:13 PM

Trust there will be cutbacks from gigantic salary rise they showered among themselves as privileged set of Government servants. Voluntary retirements should be instilled b4 some will be asked to go. The last 2 Governors played politics. Cabaraala even gave lectures to foreign diplomats while this present guy made frightening statements about IMF conditions to politicians and Government officials all of which was only time and money consuming.

Reply 0       13

Alisten Sydney Wednesday, 25 September 2024 12:14 PM

Find some one good, the current Governor is good for the economy, appoint proper board who can run the policies . Also, please pleaces instruct him to provide report about last 15 years of all the overseas remittance approved via government banks. You can see how we lost our foreign currency through government mafias(Black money) illegally saved in overseas or in currencies locally and we left no foreign reserve to buy urgent products. Identify those black listed countries as well where MONEY GONE.

Reply 0       17

ScranjithA Wednesday, 25 September 2024 12:28 PM

There can not be big changes in the economic policies. However certain modifications could be made on certain approaches to the Direct

Reply 0       8

Jo Wednesday, 25 September 2024 12:36 PM

Regime change does not mean you change everything. Keep the good ones and eliminate the bad ones. Please give some time to assess what is needed and what is not.

Reply 0       13

Gabriella Wednesday, 25 September 2024 12:50 PM

@DavidR Ranil's house was burned down before he became President. The people have put a stop to a wannabe tyrant. All kudos for the economic revival should be directed to Dr Nandalal Weerasinghe. Let's hope Anura continues to keep men of his calibre in their positions rather than play politics.

Reply 2       10

Dee Wednesday, 25 September 2024 01:20 PM

Better to replace with a friend of university or party stalwart. Should not continue with any of the old appointments!

Reply 3       3

Cheers Wednesday, 25 September 2024 01:24 PM

It's like asking a clueless fellow like anura kumara how to walk straight and failures are eminent already

Reply 6       3

Hadam Wednesday, 25 September 2024 01:25 PM

You make RW sound like a hero. He had number of opportunities to fix the economy under Yahapalanaya he failed miserably keeping friends like Ravi K close to him. I agree the fact rhetoric vs reality. Its always easy to shout from side line and when dropped in at deep end that is when cookie starts to crumble. Neverthless everyone wanted the change and we got it. Let's hope things get better instead I told you so rhetoric.

Reply 1       2

Majella Dia Wednesday, 25 September 2024 02:00 PM

Please replace the Governor immediately. He declared the country was bankrupt and enable RW to come to power and mess the whole country. With this governor you cannot implement the NPP economic policy

Reply 8       7

saman Wednesday, 25 September 2024 03:22 PM

We think the CB Governor should be replaced. Please revise his and his team's salary package approved by Ranil before his is replaced, if not you will have to pay him a higher compensation. Gota and Ranil loyal person, will not fit in to your ideal policies of our country and you Mr. President and the NPP.

Reply 0       0

Mahila Wednesday, 25 September 2024 04:07 PM

(Part II) What I’m saying is NW was NO GUILDED BOY OF Rajapaksa’s,, RW, MS, or even Gota!!?? They all OVERLOOKED HIM WHILST HE WAS STILL IN CBSL AS SENIOR DEPUTY GOVERNOR AND THIS MAN RETIRED IN DISGUST AND SOUGHT EMPLOYMENT OVERSEAS AND WAS EMPLOYED, WHEN TRGEDY STRUCK SRI LANKA!! GR made overtures as was recommended and invited NW to be Governor CBSL – stabilise “RUNAWAY USD EXCHABGE RATE” – went to USD 1.00 = SL Rs.550.00!!?? He sacrificed his new found job (well-paid) POSITION AND meet the CHALLENGE, which he did successfully to SL Rs 315.00 in a very short-time enabling remittances commence flow-back to SL treasury!!?? PLEASE, BEING EMOTIONAL AND RHETORIC IS BAD ENOUGH, BUT SPAKING ‘out-of-turn without verifying facts is SACRILEGE!!?? Unless, it is the intention of an unscrupulous campaign to destabilise the NEW Government at it's Infancy!!?? Promoted by exodus of experienced, trusted and Patriotic Staff, to benefit the opposition!!?? May be and R Bros., Inc. PLOT!!!???

Reply 0       0

Work Together Wednesday, 25 September 2024 06:19 PM

All are educated pundits. But the one who got the job done is the one with hands-on, real world experience. They should be talking to RW for a smooth transition and to get insight on what was discussed at these IMF meetings.

Reply 0       0

Tissa Fernando Wednesday, 25 September 2024 06:29 PM

Most of the comments from JVP supporters are revolving around revenge mentality. Is that the change the non-JVP people voted for? Dr Nandalal has been recognised as a Grade A Central Bank Chief by International agencies.

Reply 0       0

SP Wednesday, 25 September 2024 06:47 PM

@ DR, Yes certain economic figures look good. Unfortunately the devil is in the detail. More than 25% of Sri Lankans are below the poverty line, More people are off the electricity grid than who was in at end of 2022. GDP growth, inflation are relative figures hence its some what deceptive in understanding ground realities. Remember inflation went up by nearly 70%. However, it never came down from that point and wages never increased any where near the inflation levels. Yes things could have been much worse and credit should be given for letting the situation deteriorate further. Unfortunately, the poor had to bear the brunt of the mistakes of the elite ruling class.

Reply 0       0

John Fernando Wednesday, 25 September 2024 07:56 PM

Look this guy came from Australia , so he must be genuinely interested in helping Sri lanka, however his past administration not giving him full freedom to operate. Also he always updating public on progress and he already dealt with all the creditors, so it is wise to keep him in the loop and continue to monitor his progress. As long as he has clean record ( no bribary or no affliation with previous ministers) there is no reason to replace him. People need to understand AKD took power when our country already bottom of the barral, so it is long way to resolve this debt issue, however corruption and other misuse or abuse of public funds can be resolved by AKD asap , then rest of things will align correctly. People have the right to know how much abuse/misuse and corruption happened in the previous administration ( eg, how many luxary vehicles, how many luxary apartments, etc..) AKD needs to get to the bottom of this unprecedented corruption happened in the previous administration.

Reply 0       3