Sri Lanka’s Central Bank Governor resigns as economic crisis grips nation

4 April, 2022 | Pragati Singh

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Cabraal's declaration comes seven months after assuming the job in the midst of Sri Lanka's greatest economic and political crisis in decades. Cabraal announced his decision to resign from the posi...

Ajith Nivard Cabraal, the Governor of Sri Lanka’s Central Bank, announced his resignation to President Gotabaya Rajapaksa on Monday, as the country faced its worst economic crisis since independence.

Cabraal’s declaration comes seven months after assuming the job in the midst of Sri Lanka’s greatest economic and political crisis in decades. Cabraal announced his decision to resign from the position today on Twitter.

“In the context of all Cabinet Ministers resigning, I have today submitted my resignation as Governor, Central Bank, Sri Lanka to President Gotabaya Rajapaksa,” tweeted Cabraal today.

Cabraal, a veteran policymaker who took over as governor of Sri Lanka’s Central Bank in September amid a worsening foreign exchange crisis, advocated for lowering reliance on foreign debt, particularly from the Washington-based International Monetary Fund.