New CB Governor to achieve goals

The Central Bank will be strengthened as a financial institution to place the country on a solid growth path, said the new Governor of the Central Bank, Ajith Nivard Cabraal who will assume duties on July 1.

Cabraal told the Sunday Observer that he was looking forward to the challenges ahead and would face them with a positive mindset to achieve the goals set out in the Mahinda Chintanaya by President Mahinda Rajapaksa.

"The banking sector has a pivotal role to play in the growth of the national economy. Development of the country depends heavily on financial institutions

The Central Bank will extend its fullest support to strengthen services of all financial institutions. With the cooperation and support of all concerned I'm sure we can achieve this task," Cabraal said.

At present the Secretary to the Ministry of Plan Implementation Cabraal took oaths before President Rajapaksa on Thursday. He will succeed Sunil Mendis who will be retiring on June 30. His decision to retire prematurely was based on personal reasons. Mendis took office on July 1, 2004 from his predecessor A.S. Jayawardene.

Cabraal will be taking over as the 13th Governor of the Central Bank.The first Governor of the Central Bank was John Exter who served the bank from 1950 to 1953.

He is the Economic Advisor to President Rajapaksa.

(LF)