With blackouts engulfing at least half of the day, long queues waiting at fuel pumps, and surging inflation driving people to seek refuge in greener pastures beyond the frontiers, Sri Lanka’s economic crisis cannot be brushed under the carpet anymore.
To understand what really precipitated this crisis, Moneycontrol spoke to Dr WA Wijewardena, the former Deputy Governor of the Central Bank of Sri Lanka (CBSL).
Dr Wijewardena, who worked with the Central Bank from 2000 to 2009, has been a vocal critic of the government and the CBSL. While he says that the root of the problem lies in poor policymaking, the crisis worsened because there was no counter-pressure given by the CBSL.
Excerpts from the interview: