Wednesday, 23 May 2007

Sri Lankan Central Bank report covers up economic problems

By Saman Gunadasa
16 May 2006

In presenting his institution’s 2006 annual report last month, Sri Lankan Central Bank governor Ajit Nivard Cabraal congratulated President Mahinda Rajapakse on the country’s high rate of growth. The annual rate of 7.4 percent, Cabraal said, was close to the 8 percent promised by Rajapakse in his Mahinda Chinthanaya (Mahinda Thinking) manifesto for the 2005 presidential election.

This year’s Central Bank report reads more like a piece of political propaganda than an objective assessment of the economy. It repeatedly refers to Mahinda Chinthanaya and devotes a special section to explaining its importance. Cabraal was appointed to his post by Rajapakse. [Read more]

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