CB Governor expects no service extension until probe over

25 June 2016 12:00 am

The Central Bank Governor Arjuna Mahendran has communicated to the Monetary Board that he would not be seeking re-appointment as Governor until the Parliamentary Committee on Public Enterprises (COPE) made its findings known on issues related to the issuance of Treasury Bonds in the years 2015 and 2016.

Mahendran’s term ends on June 30, 2016.
Much opposition has already been expressed by members of the government,  Joint Opposition MPs and civil society activists against a possible re-appointment of Mahendran to the post.
A Central Bank Governor has a 6-year term.
Mahedran completed the 6-year term of previous Governor Ajith Nivard Cabraal, who resigned from the post about one and half years before the end of his term.