Sri Lanka Central Bank Veteran Cabraal Returns Amid Forex Crunch

Sri Lanka is turning to a veteran central banker as it seeks to bolster depleted foreign exchange reserves and service debt without seeking an international bailout. 

Ajith Nivard Cabraal, a former junior minister overseeing capital markets who led the Central Bank of Sri Lanka from 2006 until early 2015, will return as governor. Cabraal, who resigned from parliament earlier on Monday, confirmed his appointment in a phone interview. “I will be concentrating on stability first, then growth,” Cabraal said.