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Sri Lanka Equity Forum » Stock Market Talk » Indrajit Coomaraswamy - Governor of CBSL

Indrajit Coomaraswamy - Governor of CBSL

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1 Indrajit Coomaraswamy - Governor of CBSL on Sat Jul 02, 2016 11:35 am

Chinwi

avatar
Associate Director - Equity Analytics
Associate Director - Equity Analytics
First topic message reminder :

Indrajit Coomaraswamy


Indrajit Coomaraswamy (born April 3, 1950) is a Sri Lankan economist. He was the former Director Economic Affairs at the Commonwealth Secretariat.

Educated at the Royal College, Colombo and at Harrow School in England, he gained his undergraduate degree at Cambridge University and obtained his Doctorate at the University of Sussex. Joining the Central Bank of Sri Lanka in 1973 he served in the Economic Research, Statistics and Bank Supervision Divisions as a staff officer till 1989. From 1981 to 1989 he was seconded to the Ministry of Finance and Planning.
Thereafter he worked for the Commonwealth Secretariat from 1990–2008, holding the posts of Director, Economic Affairs Division and Deputy-Director, Secretary-General's Office and was brought back to the Commonwealth Secretariat to head the Social Transformation Programme Division, as Interim Director.

He is currently a Special Advisor at the Galleon Group.*

He played first-class cricket in 1971 and 1972 for the Cambridge University team.  He also played Rugby for Cambridge University, and later captained Sri Lanka in Rugby in the 1974 Asiad.

He was appointed as the Governor of the Central Bank of Sri Lanka on 2nd July 2016.

---
* The Galleon Group was founded by Raj Rajaratnam# one of the largest hedge fund management firms in the world, managing over $7 billion, before closing in October 2009.  The firm was the center of a 2009 insider trading scandal.


# - Raj Rajaratnam is an ethnic Sri Lankan Tamil born in Colombo . His father was the head of the Singer Sewing Machine Co. in South Asia.  He attended S. Thomas' Preparatory School, Kollupitiya before his family migrated to England.


Copyright : http://www.revolvy.com/


26 Re: Indrajit Coomaraswamy - Governor of CBSL on Sun Jul 03, 2016 7:19 pm

dennam jambu


Senior Equity Analytic
Senior Equity Analytic
ටිකක් හරි හොඳක් වෙඉ. මහේන්ද්‍රන් හිටියනම් brake නැතිව ගලගෙදර පල්ලමේ යන ලොරියක් වගේ අවදානමක් තිබේ.කිසිම පාලනයක් නෙතිව.මේ මනුස්සයට ලැජ්ජාවක් බයක් තියන මනුස්සයෙක් නිසා ඉස්සරට වඩා හොදක් වෙඉ.

27 Re: Indrajit Coomaraswamy - Governor of CBSL on Mon Jul 04, 2016 3:04 am

crnsuranjith


Senior Equity Analytic
Senior Equity Analytic

28 Re: Indrajit Coomaraswamy - Governor of CBSL on Mon Jul 04, 2016 3:48 am

stockback


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics


onna ohe Mahinda mamage antige Malliwa damu ho AIyawa hari kamak naha. poddak srilankan ekata thuwala kala witharane

29 Re: Indrajit Coomaraswamy - Governor of CBSL on Mon Jul 04, 2016 7:39 am

hettdas


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@Chinwi wrote:
@nimantha80 wrote:can he bring some funds??.
Chinwi your opinion on this man?


What I can say at the moment is, this person is a much better gentleman than the previous  
man they imported from Singapore. The other thing is, there are allegations against a top group at CB. I hope the new Governor will handle them smartly.  

No one can bring the amount of money we need now. I cannot imagine how they balance the next budget. It all happened when these fools increased salaries by almost 100%. It created imbalance and triggered money printing and Tax chain. Now due to increased prices and taxes the Govt. servants say the relief they got by increased salary is going backwards and they are in more trouble.  
This is a basic principal we learn in economy classes.  

At the same time entire food production in the country is being squeezed by the actions of the rulers and also by  identified and unidentified environmental factors. This can create lot of troubles in years to come if they take no action.

---
p.s. Dr. Coomaraswamy is in JKH board. Probably he may quit with this new situation.


I totally agree with your comment

" It all happened when these fools increased salaries by almost 100%. It created imbalance and triggered money printing and Tax chain. "

All problems created after huge salary increase to government servants. You can feel how non government people bear this cost of living even if govt. servants say the relief they got by increased salary is going backwards and they are in more trouble.  

Now private sector people also demand high salaries. Also foreign investors  won't come if salaries are high because their main objective is earning profits.

30 Re: Indrajit Coomaraswamy - Governor of CBSL on Mon Jul 04, 2016 8:24 am

Chinwi


Associate Director - Equity Analytics
Associate Director - Equity Analytics
re.crnsuranjith:

Yes those 3 people were trying this for many years irrespective of governing party.

I did some non-economy related study with one of them and I know they had long term vision and goal. I do not know how they could spend lot of money for these work for so many years ...may be from external sources.

Due to their financial strength and international connections they can sustain  during any government, influence top ranks and gradually spread the vision they believe.

@ stockback , this case is much serious than managing an airline .  
If anyone wanted to know what happened in SriLankan, 80% of  Loss in Srilankan was due to high fuel prices and low productive high fuel burning 4 engined A 340 air planes.
Previous people did some mismanagement but the present crooks are doing more serious unrecoverable damage to the future of our airline by rejecting A350s built for us and withdrawing highly profitable ground handling from the airline.

31 Re: Indrajit Coomaraswamy - Governor of CBSL on Mon Jul 04, 2016 12:14 pm

worthiness


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Even the highest graded governor would not be a panacea for the prevailing situation. He may be capable of streamlining the economic management mid to long term provided no trickery, pressure & influence.

32 Re: Indrajit Coomaraswamy - Governor of CBSL on Mon Jul 04, 2016 12:57 pm

crnsuranjith


Senior Equity Analytic
Senior Equity Analytic
Thanks Chinwi,

Now, he is in right position to sign ECTA. So we will see many things coming days but don't know there are good or bad.

33 Re: Indrajit Coomaraswamy - Governor of CBSL on Tue Jan 24, 2017 1:31 pm

sheildskye

avatar
Manager - Equity Analytics
Manager - Equity Analytics
News flash: Mahindaananda Aluthgamage just accused Governor Indrajit Coomaraswamy of conflict of interest as he serves as a director of the Galleon company of Raj Rajaratnam. Is there any truth in it?

34 Re: Indrajit Coomaraswamy - Governor of CBSL on Tue Jan 24, 2017 1:33 pm

sheildskye

avatar
Manager - Equity Analytics
Manager - Equity Analytics
The credibility of MP Mandaananda is doubtful, that is why I ask?

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