Colombo: The governor of the Central Bank of Sri Lanka Nandalal Weerasinghe has cited the lack of independence of the apex bank in determining the monetary policy as a reason for the country’s unprecedented economic crisis.
The Sri Lankan government in May last year declared a debt default on over USD 51 billion in foreign loans — a first in the country’s history.
Lack of freedom to Central Bank led to Sri Lanka’s bankruptcy: Official
The Sri Lankan government in May last year declared a debt default on over USD 51 billion in foreign loans — a first in the country’s history.