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Will step down if political instability continues-CBSL Governor

Governor of the Central Bank of Sri Lanka Dr. Nandalal Weerasinghe says he expected political stability yet there has been no improvement or progress towards addressing social unrest and political stability.

Dr. Weerasinghe addressing a media briefing said if this situation continues he will step down from the post of Governor.

The Governor added citizens should delay purchasing non-essential imported items such as televisions and refrigerators.

Dr. Weerasinghe added those living overseas should use official channels to send their earnings, as such funds are used to purchase fuel and other essential commodities.

The CBSL Governor is also of the view that the economy can be stabilized to a certain extent if the gray and black market foreign exchange transactions are eliminated.

He said fuel prices cannot be increased continuously based on foreign exchange rates.

The Governor added a dysfunctional situation will arise with the existence of only an Executive President while a Parliament without a Prime Minister, and Minister of Finance are futile.

Governor Weerasinghe said a stable system of governance and government must be enforced at the earliest.

The CBSL Governor stated that this is the main responsibility of the 225 public representatives and the President.

The Governor further stated it is essential to appoint a government that is capable of maintaining law and order.

He added if this situation continues over several days, power cuts of between 10-12 hours could be enforced in the country while the shortage of fuel will prolong.

The Governor also condemned the attack on peaceful protesters opposite Temple Trees and at the Galle Face Green on Monday.

Tamara Rebeira