Governor squashes resignation rumours


by Azhar Razak


Central Bank Governor, Dr. Indrajit Coomaraswamy yesterday dismissed speculation that he had intentions of tendering his resignation amidst pressure exerted from high ranking persons within the government.

The Governor’s clarification came in the wake of some media reports that he met with the President and expressed his intention to step down, but the President had convinced him to stay on.


"No, I haven’t done any such thing," Coomaraswamy told The Sunday Island.

Media reports indicated that there has been a state of uneasiness brewing between the Governor and certain sections of the government, in particular the Prime Minister and the Finance Minister.

According to a media report, the duo at the monthly meeting of the Economic Affairs Committee held at the Parliament complex on November 30, had raised concerns with the Governor over the failure of the Central Bank to mitigate the impact of the depreciating rupee against the US Dollar.

Meanwhile, speculation was also rife that if the governor tendered his resignation, two members of the Monetary Board were also planning to follow suit.

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