Former Deputy Leader of the United National Party, MP Ravi Karunanayake, says the Governor of the Central Bank also bears responsibility for the country’s financial crisis, arguing that monetary management falls directly under the institution’s authority.
Speaking to the media, Karunanayake stated that since the Central Bank is responsible for monetary policy and currency management, the depreciation of the Sri Lankan rupee falls within its scope of responsibility.
The MP, who reiterated his opposition to granting independence to the Central Bank, claimed he had previously warned that such a move could create serious challenges.
Karunanayake also alleged that the current administration, which previously criticized earlier governments over corruption and mismanagement while in opposition, is now offering different explanations for the country’s economic difficulties.
He argued that the issue facing the country today is not simply theft but broader financial fraud and systemic failures.
The former Finance Minister further claimed that political narratives have shifted from blaming ministers to accusing public officials, questioning whether such arguments address the root causes of the crisis.
“These are like giving Panadol to cancer,” he said, referring to what he described as inadequate solutions to deeper economic problems.
Karunanayake also accused the government of using different terminology to describe policy measures, arguing that certain reforms described as restructuring are, in practice, similar to privatization.
His remarks come amid ongoing debate over the role of the Central Bank, monetary policy, exchange rate management, and institutional accountability during Sri Lanka’s economic recovery process.
