The former Governor of Central Bank Ajith Nivard Cabraal has been widely criticised by his professional colleagues, Chartered Accountants due to his recent conduct as the Governor sources said.
It is reported that there is a strong dissatisfaction among the Chartered Accountants regarding the and there is an opinion that a formal inquiry should be carried out by their professional body Charted Accountants Sri Lanka (CA Sri Lanka) regarding his activities.
Accordingly, a discussion has been created that the former Governor of the Central Bank, who is a Chartered Accountant by profession, has taken decisions that could lead to an economic crisis in the country, which has also damaged the professional dignity of the Chartered Accountants.
It is reported that in the face of this situation, high level members of the Institute of Chartered Accountants have already discussed the need to conduct an immediate investigation and take action against the former Governor of the Central Bank to protect their professional dignity.
The former central bank governor has been widely accused of using foreign reserves to peg the US Dollar against the Rupee to keep the exchange rates stable and of forcing US $ 500 million to re pay for sovereign bonds when reserves are in short supply.
It is reported that these decisions have resulted in a shortage of foreign reserves for the importation of essential commodities to Sri Lanka and the investment in Greek bonds during Mahinda Rajapaksa’s previous presidency as the Governor of the Central Bank also had a severe impact on the Sri Lankan economy.
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