Mahendran resumes duty after bond probe report

23 April 2015 10:23 am - 10 - {{hitsCtrl.values.hits}}

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Central Bank Governor Arjuna Mahendran has resumed duties after a more than five-week voluntary leave of absence after being cleared by a panel investigating a controversial government bond auction, the Reuters said today.

The panel of legal experts probing the Feb. 27 auction said on Sunday that it had cleared the central bank chief of any direct role in the decision to increase the size of the sale by 10 times, while calling for tighter supervision of the government's borrowing office.

"The governor is in office today for the first time after he went on leave," a central bank official said on Thursday condition of anonymity because he is not authorised to speak to media.

Mahendran, when contacted, declined to comment, saying he was busy in a meeting.

Mahendran went on leave of absence on March 16 after opposition parties pressed Prime Minister Ranil Wickremesinghe's government to sack him and hold an independent investigation into the bond auction. The prime minister appointed the three-member panel to probe the deal.

Mahendran, a Sri Lankan-born Singapore national, was questioned by Sri Lanka's anti-corruption authority and banned from traveling abroad.

At the auction, the government raised more than 10 billion rupees ($75.2 million) from the sale of a 30-year treasury bonds at a yield of 11.73 percent, after initially offering just 1 billion rupees with an indicative price of 9.5 percent.

The main opposition says the higher yield would cost the government an extra 45 billion rupees ($338.60 million) and has alleged that the government has been trying to cover up the issue with a simple commission report.

Deputy Investment Minister Eran Wickramaratne rejected the opposition claim on the losses, but said the deal has caused damage to the Wickremesinghe government.

"Once the report on the probe is tabled, the parliament should decide if there should be any further investigation into it," he told reporters.

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Comments - 10

maddy Thursday, 23 April 2015 05:08 PM

lol

sarath Thursday, 23 April 2015 05:12 PM

wetath niyarath goyam ka namkaata pawasada ae amaruwa

patriot Thursday, 23 April 2015 05:12 PM

Miracle of Asia.

simon Thursday, 23 April 2015 05:21 PM

Unbelievable ! All the allegations were false because he was chosen by PM ?

dilip Thursday, 23 April 2015 05:22 PM

Hi. all Srilankan thieves, if you stee,l steal big;This government like big thieves .You will be out in two days.

indi Thursday, 23 April 2015 05:34 PM

ANOTHER MILESTONE OF 100 DAY PLAN. GR GOES TO BC AND MAHENDRAN RESUME DUTIES.

hiran gunawardena Thursday, 23 April 2015 05:37 PM

Never seen comedies like these. He has done the briiggest theft and back in same job in no time

Nimal S. Ekanayake Thursday, 23 April 2015 05:47 PM

Welcome back sir, do you have any more son in laws to help ?

Emilio Thursday, 23 April 2015 05:59 PM

No comedy, my friend.Nothing to hide.

palle Thursday, 23 April 2015 06:05 PM

What a drama!!

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Mahendran resumes duty after bond probe report

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