CBSL Governor opens trading at CSE

CBSL Governor opens trading at CSE

CBSL Governor opens trading at CSE

Written by Tharushan Fernando

28 Jul, 2016 | 7:38 pm

Central Bank Governor Dr. Indrajit Coomaraswamy opened trading at the Colombo Stock Exchange on Thursday.

Senior officials Central Bank and the Colombo Stock Exchange were among those present when the Governor of the Central Bank opened today’s trading by ringing the bell.

“We don’t think there are quick fixes. I think trying to create sugar highs by artificially trying to boost the asset markets or growth, or anything else is not helpful”, said the Governor of the Central Bank of Sri Lanka, Dr. Indrajit Coomaraswamy who pointed out that such actions will only result in distortions,  and everybody losing.

He pointed out that the critical thing is to create the fundamentals to ensure that the economy grows. And the Government has embarked on a stabilisation programme and without stabilisation of the economy nothing is possible while at the heart of the stabilisation needs to be fiscal consolidation.

“This is a problem that we had for three four decades”,  he said and further stated that it seems the government is making an effort to get to grips with that and in terms of the future, and that this is one positive sign

 

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