Tuesday, 24 May, 2022
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Sri Lanka central bank to get new governor amid economic crisis

Sri Lanka central bank to get new governor amid economic crisis

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Sri Lanka's central bank is set to name a new chief, as the nation faces its worst economic crisis in over 70 years.

P Nandalal Weerasinghe told the BBC that he will take up the position of the bank's governor on Thursday.

It came after the bank's head Ajith Nivard Cabraal offered his resignation on Monday, amid mass protests over rising living costs and power cuts.

The bank has also postponed an interest rate decision as policy makers try to stabilise the country's currency.

The Central Bank of Sri Lanka has not yet made an official announcement on Mr Weerasinghe's appointment. A spokesman for the bank told the BBC that it is waiting for confirmation from the country's president.

The island nation of some 22 million people is suffering from its most serious economic crisis since independence from the UK in 1948.

The central bank was due to make an interest rate decision on Tuesday but late on Monday postponed the announcement without giving a new date for the event.