Letters to the Editor

Friday, 10 February 2012 00:00 - - {{hitsCtrl.values.hits}}

CB needs to be run by a top-class economist

Dear Governor,

In the FT of Thursday, we see a writer supporting your cause and saying what a great service you have done for the country.

Before I begin, I must say that you speak very well at events, though I do not agree with your logic and argument.

I have a simple theory; when I am sick I go to a doctor, not to Dr. Harsha de Silva.

In the same way, the Central Bank needs to be run by a top-class economist who has really grown up in the Central Bank or in a place like the IMF.

What is happening now is that the Central Bank has become the laughing stock and is often at the butt end of many jokes.

Governor Cabraal, you have also not been fair with the EPF. Some of the investments done will come to haunt the members and you at a future date.

You have in addition run amok with the banks by installing your stooges. How tragic?

As Dr. de Silva suggested, you should move on and get into active politics where your special skill of spinning stories and waxing eloquently will be appreciated. We have already squandered two billion dollars to defend the rupee. May I ask for whose benefit?

So please leave the Central Bank alone and hand it over to the professionals to run and stick to what you are good at as an accountant and a brilliant presenter.

Thank you.

Ranvjith

Colombo 5

Strange collapse of the stock market

I read your very informative Financial Times regularly. The information is very wide and done well. However, here in our Sri Lanka, although there is a lot of promise and confidence expressed in our economy by various experts, there appears to be a strange collapse of our stock market.

Is it because the promised justice to rope in the manipulators and other unethical practice by certain players appears to not be forthcoming or dragged into the limbo of all the other frauds that have taken place in the recent past? Quo vadis or massacre of the innocence?

Garrick Garmaso