Sri Lanka names Coomaraswamy as central bank governor

Coomaraswamy succeeds Arjuna Mahendran, whose tenure was marked by controversies

Indrajit Coomaraswamy, veteran economist, is the new Governor of the Central Bank of Sri Lanka (CBSL).

President Maithripala Sirisena announced Prof. Coomaraswamy’s appointment through his official twitter account. Mr. Coomaraswamy succeeds Arjuna Mahendran, whose tenure was marked by controversies over issuance of bonds, came to an end on June 30.

The decision was taken after consulting Prime Minister Ranil Wickremesinghe, according to an official statement issued by the President’s office. Mr. Coomaraswamy would assume charge on July 4. He would hold the post for six years.

“He must have been in a state of shock,” said Radhika Coomaraswamy, the younger sister of the economist and Member of the Constitutional Council, expressing her joy and surprise over the appointment of Mr. Coomaraswamy as Governor.

Cambridge University

Born in 1950, Mr. Coomaraswamy had his early education at the Royal College, Colombo and the Harrow School in England.

He completed his undergraduate degree at Cambridge University and obtained his Doctorate from the University of Sussex. Joining the CBSL in 1973, he was part of the Bank till 1989. During this period, he also served the Ministry of Finance and Planning for eight years.

Mr. Coomaraswamy was holding the post of adviser at the Ministry of Development Strategies and International Trade before he was named as the Governor.