Clarification Regarding False Information Published in the Media About Expenses Incurred by the Governor of the Central Bank of Sri Lanka

It has been reported in the media that allegations had been made by members of the Parliamentary opposition that the Governor of the Central Bank has misused public funds.

The CBSL wishes to state that neither the Governor nor any officer of the CBSL has used public money for personal expenses, or misused public funds in any manner whatsoever. The expenses relating to all official duties and events attended by the Governor and CBSL officials both locally and internationally are borne by the Central Bank of Sri Lanka, similar to the general practice of any other Ministry or Department.

In the recent past, the CBSL Governor and staff participated in numerous annual and bilateral meetings organized by the World Bank, the International Monetary Fund (IMF), the South Asian Association for Regional Cooperation (SAARC), the South East Asian Central Banks (SEACEN) and the Asian Clearing Union (ACU). In addition, the Governor accompanied the Hon. Prime Minister and the Hon. Minister of Finance on a number of official visits abroad. Further, entertainment expenses were incurred on several occasions when representatives of a number of international financial organizations visited Sri Lanka.

All these expenses were incurred in accordance with the laws and regulations approved by the Parliament of Sri Lanka and that of the CBSL and abiding by principles and procedures of government financial regulations. The accounts of these expenses are audited by the Internal Audit Department of the CBSL and the Auditor General of the country. No audit report has been received which mentions instances that the expenses for official visits of the Governor and CBSL staff were in contravention of the stipulated rules or regulations, or that such expenses were misused.

Travel expenses for CBSL reduced to Rs 96.6 mn in 2015 compared with Rs 133.8 mn in 2014. This brought about a saving of Rs 37.2 mn.

Published Date: 

Monday, June 6, 2016