The prestigious business magazine LMD has named Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, as the ‘Sri Lankan of the Year’ for 2024. The magazine highlights Dr. Weerasinghe’s pivotal role in steering the country through one of its most challenging economic crises, beginning with his appointment as Central Bank Governor in April 2022.
Under his leadership, Sri Lanka embarked on a difficult journey of economic recovery, with Dr. Weerasinghe acknowledging the severity of the situation and managing expectations realistically. Despite the country’s crippling economic state, he did not shy away from forecasting that the recovery would not happen overnight, with challenges extending into the foreseeable future. He was transparent about the difficulties that lay ahead, particularly regarding the inflationary pressures.
At the time of his appointment, Sri Lanka was grappling with an alarming inflation rate of 29.8%, which soared to 61% by November 2022. However, thanks to Dr. Weerasinghe’s implementation of rigorous monetary policies and strategic interventions, inflation gradually decreased. By July 2023, it had dropped to single digits, marking a significant turnaround in the nation’s economic conditions within a year.
LMD praised Dr. Weerasinghe for his steadfastness in facing economic realities and leading the nation with a pragmatic approach, contributing to Sri Lanka’s gradual stabilization. His leadership in navigating these difficult times earned him this well-deserved recognition as the ‘Sri Lankan of the Year’.
Dr. Weerasinghe now joins the esteemed ranks of previous honorees, such as the late Lakshman Kadirgamar, who was also named ‘Sri Lankan of the Year’ in 1995. The magazine’s latest edition is now available in print, with a digital version accessible through WhatsApp and various social media platforms.
This recognition further cements Dr. Weerasinghe’s legacy as a key figure in Sri Lanka’s recovery and a symbol of resilience in challenging times.
