Sri Lanka President Mahinda Rajapaksa today extended the Central Bank Governor Ajith Nivard Cabraal's service for another six years with effect from July 1, 2010.
Cabraal, a chartered accountant by profession was the Adviser to President on Economic Affairs and Secretary, Ministry of Plan Implementation, before his appointment as the twelfth Governor of Central Bank in 2006.
During his tenure Sri Lanka has experienced a substantial economic growth doubling the GDP. His tight monetary policies had reduced the inflation, increased the per capita income, and spurred the economic growth despite a devastating war.
Cabraal is a leading figure In Sri Lanka's drive to boost the Foreign Direct Investment (FDI) and short term capital inflows.
Before becoming the Governor of the Central Bank, Cabraal as a member of the government team participated in the Geneva Talks with the LTTE In February 2006. He also represented the Government in relation to the Millennium Challenge Fund negotiations with the US Government.
Cabraal also served as a Member of the Board of the Strategic Enterprises Management Agency (SEMA), which is responsible for the supervision of the twenty most important public institutions of the country, including the State Banks and Public Utilities.
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