Cabraal resigns; Weerasinghe speculated to take over

Central Bank Governor Ajith Nivard Cabaraal has resigned from the top post with immediate effect after submitting his resignation to President Gotabaya Rajapaksa, yesterday.

Cabraal was appointed as a Cabinet-rank Central Bank Governor in September 
last year.

“In the context of all Cabinet Ministers resigning, I have today submitted by resignation as Governor, @CBSL to HE President Gotabaya Rajapaksa,” Cabraal tweeted. 

Cabraal was vehemently resisting Sri Lanka’s need to go to the International Monetary Fund to resolve the current economic crisis and was of the belief that the local talent and home-grown fix concocted by the Central Bank would be able to pull the country’s economy from the abyss. 

In an interesting turn of events, it is widely speculated that retired Senior Deputy Governor Dr. Nandalal Weerasinghe, who is currently overseas, is likely to take over the governorship of the Central Bank from Cabraal.