Former United National Party Deputy Leader and Parliamentarian Ravi Karunanayake has alleged that the Central Bank of Sri Lanka has failed to provide effective solutions to the country’s current economic challenges through its monetary policy decisions.
Speaking to the media, the MP criticized the Central Bank’s handling of monetary policy, arguing that its actions have had broader impacts on the economy and the overall financial system.
Karunanayake claimed that the Central Bank has not taken sufficiently practical or effective measures to address ongoing economic pressures and stabilize the financial environment.
“The end result of not formulating proper policies to protect the value of our currency is that the public is punished,” the MP said.
He argued that ordinary citizens have ultimately borne the consequences of policies that, according to him, have failed to adequately strengthen and protect the rupee.
The MP further stated that the Central Bank should provide a clearer and more transparent explanation to the public regarding the measures it has taken to address current economic conditions.
Karunanayake also questioned explanations linking exchange rate pressures solely to global economic conditions, arguing that some regional economies have managed similar challenges differently.
Referring to countries in the region, he claimed that nations such as Thailand and Indonesia have not experienced the same level of currency pressures cited in local discussions.
His remarks come amid continued debate over exchange rate management, inflation, interest rate policies, and the role of monetary authorities in Sri Lanka’s ongoing economic recovery.
