{"id":103604,"date":"2020-06-16T16:46:51","date_gmt":"2020-06-16T23:46:51","guid":{"rendered":"http:\/\/www.lankaweb.com\/news\/items\/?p=103604"},"modified":"2020-06-16T16:46:51","modified_gmt":"2020-06-16T23:46:51","slug":"our-president-is-right-on-our-central-bank","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2020\/06\/16\/our-president-is-right-on-our-central-bank\/","title":{"rendered":"Our President is right on our Central Bank"},"content":{"rendered":"<h2><span style=\"color: #0000ff;\"><em>By Garvin Karunaratne<\/em><\/span><\/h2>\n\n\n<p>I refer to the news item today:<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">&nbsp;Do not shirk responsibility of rebuilding the\neconomy: let me know the correct strategy \u2013 President tells CB chiefs.&#8221;<\/h4>\n\n\n\n<p>This reminds me of what I wrote on the Central Bank&nbsp; way back in 2002:<\/p>\n\n\n\n<p>The Central Bank in its latest Annual Report states that it no longer\ncontrols our foreign exchange. To my thinking,&nbsp;\ncontrolling our currency&nbsp;&nbsp; and\nhandling the foreign exchange our country receives is the fundamental task of\nany Central Bank. It is the Central Bank of any country&nbsp; that recommends to the Ministry of Finance&nbsp; the fiscal and monetary measures that have to\nbe taken to enable growth and development. One knows how Greenspan is\ncontrolling the US economy. A Central Bank cannot function in the interests of\nthe country&nbsp; when it acts&nbsp; in the role of a poodle to the IMF. Today go\nto any foreign bank and one will find that they allocate and allow&nbsp; foreign exchange to citizens even without\nchecking their bonafides. I am told that the two State Banks handle strictly\naccording to the rules. Leaving the handling of our foreign exchange to foreign\nbanks will be a total disaster. We do not need an inactive Central Bank. It is\ntime that the Central Bank gets teeth.\u201d(From:How the IMF Ruined Sri Lanka\nand Alternative Programmes of Success, (Godages:20065, Page 261,262)<\/p>\n\n\n\n<p>Garvin Karunaratne, Ph.D.<\/p>\n\n\n\n<p>Author of: How the IMF Sabotaged Third World\nDevelopment(Kindle\/Godages:2017<\/p>\n\n\n\n<p>16\/06\/2020,\nRajagiriya<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Garvin Karunaratne I refer to the news item today: &nbsp;Do not shirk responsibility of rebuilding the economy: let me know the correct strategy \u2013 President tells CB chiefs.&#8221; This reminds me of what I wrote on the Central Bank&nbsp; way back in 2002: The Central Bank in its latest Annual Report states that it [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57],"tags":[],"class_list":["post-103604","post","type-post","status-publish","format-standard","hentry","category-by-garvin-karunaratne"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/103604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=103604"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/103604\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=103604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=103604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=103604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}