Newly appointed CBSL Governor Nivard Cabraal to announce a policy package soon

Central Bank will need to take the required steps that will reflect its own commitment towards economic stability, and will therefore soon announce a policy package in the form of a short-term Road Map, that could then be followed by all stakeholders, said newly appointed Governor Nivard Cabraal.

Releasing an initial statement upon taking office on Wednesday, he said that the government, bankers, importers, exporters, lenders, borrowers, investors, developers, service providers, industrial businesses, exchange houses, retailers, wholesalers and most importantly, the people of Sri Lanka must experience economic stability.

“It is then that undue fears are allayed, and damaging expectations are not escalated,” Cabraal said.

“To achieve that objective, the Central Bank will need to provide clear and firm guidance to all economic stakeholders particularly at turbulent times, such as the current times. Therefore, the Central Bank’s first and urgent priority under my watch, will be to provide clarity with regard to the movement of Sri Lanka’s macro-economic fundamentals in the desired path and thereby ensure stability in the financial sector.”