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President says has full confidence in CB Governor Cabraal

Sri Lanka President Gotabaya Rajapaksa has full confidence in Central Bank Governor Nivard Cabraal, his office said in a statement responding to a media report that the International Monetary Fund has called for his removal.

“The President and the Government has fullest confidence in the CBSL Governor and there is no reason whatsoever to seek his resignation,” President Rajapaksa’s media office said.

“Furthermore the newspaper report that the IMF delegation had laid down such a condition is a total canard.

“The IMF did not discuss about officials and the talks covered only the monetary issues.”

A day earlier President Rajapaksa in a national address said he had decided seek IMF support to solve a balance of payments crisis.

A country has currency troubles when a pegged central bank prints money, which spills over the balance of payments as excess demand.

There had been speculation about a rift between the Finance Minister and the Central Bank, after remarks made by sacked ex-Industries Minister Wimal Weerawansa.

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