Sri Lanka economic crisis: Stock exchange halts trading, Central Bank Governor resigns

Colombo, April 4 : Sri Lanka’s Colombo Stock Exchange halted trading for the second time after an index of sensitive stock dropped 7.88 percent amid an unfolding political crisis added to an economic downslide. The Standard and Poor’s SL 20 Index fell 7.88 percent and the All Share Index fell 4.65 percent on Monday. The move also as the Central Bank Governor Ajith Nivard Cabraal tendered his resignation letter. Education Minister Dinesh Gunewardena said Sunday night that the the cabinet of ministers had given their resignations to the Prime Minister. Minister Keheliya Rambukwelle said the President may invite the opposition to a new cabinet. However opposition Samagi Jana Balawegaya Chief Executive Ajith Perera said the resignation was a sham as under the constitution resignations had to be given to the President. The SJB will not get involved in any government unless the President resigns, he said Sri Lanka’s central bank Governor Nivard Cabraal said he had resigned after cabinet ministers had also offered to resign. “In the context of all Cabinet Ministers resigning, I have today submitted my resignation as Governor, @CBSL to HE President Gotabaya Rajapaksa,” Cabraal said in a message. RN

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