Al Khaleej stuns Al Hilal with 3-2 victory, ending 57-match unbeaten run    Turki Al-Sheikh crowned "Most Influential Personality in the Last Decade" at MENA Effie Awards 2024    Saudi Arabia arrests 19,696 illegals in a week    SFDA move to impose travel ban on workers of food outlets in the event of food poisoning    GACA: 1029 complaints recorded against airlines, with least complaints in Riyadh and Buraidah airports during October    CMA plans to allow former expatriates in Saudi and other Gulf states to invest in TASI    11 killed, 23 injured in Israeli airstrike on Beirut    Trump picks billionaire Scott Bessent for Treasury Secretary    WHO: Mpox remains an international public health emergency    2 Pakistanis arrested for promoting methamphetamine    Move to ban on establishing zoos in residential neighborhoods    Moody's upgrades Saudi Arabia's credit rating to Aa3 with stable outlook    Al Okhdood halts Al Shabab's winning streak with a 1-1 draw in Saudi Pro League    Mahrez leads Al Ahli to victory over Al Fayha in Saudi Pro League    Saudi musical marvels takes center stage in Tokyo's iconic opera hall    Saudi Arabia and Japan to collaborate on training Saudi students in Manga comics Saudi Minister of Culture discusses cultural collaboration during Tokyo visit    Al Khaleej qualifies for Asian Men's Club League Handball Championship final    Katy Perry v Katie Perry: Singer wins right to use name in Australia    Sitting too much linked to heart disease –– even if you work out    Denmark's Victoria Kjær Theilvig wins Miss Universe 2024    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Sri Lanka central bank governor submits resignation amid crisis
Published in The Saudi Gazette on 04 - 04 - 2022

The governor of Sri Lanka's central bank says he has submitted his resignation as the country faces its worst economic crisis in decades.
Ajith Nivard Cabraal's announcement came after all of the country's cabinet ministers resigned.
Angry protestors have also been calling for the country's prime minister and president to step down.
A severe shortage of foreign currency has left the government unable to pay for essential imports, including fuel.
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.
A spokesperson for the central bank told the BBC on Monday afternoon that there were currently no plans to postpone the announcement.
Lakshini Fernando, of Asia Securities, said she expects the bank to raise its main interest rate by at least two percentage points as it tries to stabilise the Sri Lankan rupee.
The currency has lost more than 30% of its value against the US dollar since it was devalued last month.
While the market is likely to react positively to Mr Cabraal's resignation, "the key will be who takes over at this juncture," Fernando told the BBC.
"We definitely need more clarity on policy for a stronger momentum," she said.
Demonstrators have been taking to the streets of the capital Colombo as homes and businesses have had their electricity cut for up to 13 hours at a time.
Sri Lankans are also dealing with shortages and soaring inflation, after the country steeply devalued its currency last month ahead of talks with the International Monetary Fund (IMF) over a bailout.
It comes as 26 of Sri Lanka's ministers have submitted letters of resignation - but not Prime Minister Mahinda Rajapaksa or his brother, President Gotabaya Rajapaksa.
Meanwhile, President Rajapaksa's former attorney and the country's ex-justice minister Ali Sabry, was sworn in as the new finance minister on Monday.
Cabraal was appointed as the central bank's 16th governor last September.
He was previously the bank's 12th governor for almost a decade, from July 2006 to January 2015.
During his first term in office Cabraal also helped to more than triple the size of the Sri Lankan economy, according to the bank.
With him in charge, the bank said: "Sri Lanka was able to maintain sound and stable macro-economic fundamentals, with inflation being contained at low levels, and financial system stability being achieved in a time of severe global uncertainties and turmoil". — BBC


Clic here to read the story from its source.