Central bank chief Nandalal Weerasinghe, charged with clawing Sri Lanka out of bankruptcy, says he had warned about economic calamity years before it hit. Weerasinghe was the Central Bank of Sri Lanka's number two when Gotabaya Rajapaksa was elected president in 2019 on populist promises of generous tax cuts. Sri Lanka's previous leadership accused of taking Beijing's money to finance vanity projects like the Port City development in Colombo. "China is fully on board, and agreed to support Sri Lanka and help Sri Lanka to come out of this crisis," he said. When Weerasinghe was a senior deputy governor of Sri Lanka's Central Bank in 2019, 'I always raised concerns,' he said.

Source: Daily Nation July 07, 2023 04:39 UTC