Sri Lanka's Central Bank Governor, Ajith Nivard Cabraal resigned this morning after a series of Cabinet Ministers tendered their resignations as the island plunges into a national crisis.
In the context of all Cabinet Ministers resigning, I have today submitted my resignation as Governor, @CBSL to HE President Gotabaya Rajapaksa. @GotabayaR #SriLanka #GoSL
— Ajith Nivard Cabraal (@an_cabraal) April 4, 2022
Opposition leader, Sajith Premadasa slammed Cabraal's resignation, claiming that Cabraal has "led Sri Lanka to its current meltdown" and has "criminal liability."
Lacking in competency & accountability you have led Sri Lanka to its current meltdown. You are accountable not just for the last 2 years but what you did between 2006-2015. @an_cabraal YOU HAVE CRIMINAL LIABILITY.#StopTheDenial https://t.co/BwDk13h7Qf
— Sajith Premadasa (@sajithpremadasa) April 4, 2022
Cabraal's resignation comes ahead of a reported announcement by the Central Bank regarding an interest rate decision. A Central Bank spokesperson told the BBC that there were "currently no plans to postpone the announcement."
Speaking to the BBC, Lakshini Fernando, of Asia Securities, said that she expects the bank to raise its main interest rate by at least two percentage points in order to stabilise the Sri Lankan rupee.
The governor has been under fire as the island’s economic crisis has worsened over recent weeks, with spiralling inflation and many plunging into poverty. Protests have erupted across the island, demanding President Gotabaya Rajapaksa to resign, as the cash strapped island has been unable to pay for imports, creating high prices and a lack of essential items.
