No, the Central Bank Governor Did Not Tell MPs That “The Country’s Economy Is Collapsing”

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Whenever the Central Bank Governor appears before Parliament, his every word is scrutinized and frequently repackaged on social media to fit a political narrative. Recently, a post claimed Dr. Nandalal Weerasinghe admitted to MPs that Sri Lanka’s economy is collapsing and that the government is to blame. We investigated whether he actually said this.

Social Media Posts :

The post went on to state:

“The country’s economy is collapsing… Nandalal admits it for the first time… Today the Central Bank Governor came to Parliament… Meanwhile, MPs surrounded Nandalal and questioned him… ‘Mr. Governor, is the country’s economy collapsing? We know you cannot tell the country, but tell us… The reports you presented clearly show that the economy is declining. Now the situation is just like the final period of Gotabaya Rajapaksa’s government…’”

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Fact-Check :

On 10 June, the Central Bank of Sri Lanka (CBSL), under the patronage of the Speaker, held an official awareness programme for Members of Parliament on the country’s current monetary policy, exchange rate policy, and overall macroeconomic stability. Governor Dr. Nandalal Weerasinghe conducted the session.

The posts circulated against this backdrop, implying the Governor made the alleged statement during this programme. Photographs taken at the event were also used to support the claim.

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If the Governor had made such a statement, mainstream media would certainly have reported it. We found no such report.

If the statement had been made, the MPs present, or Dr. Weerasinghe himself, would likely have referenced it on social media or to the press. Our investigation found no such reference. Opposition Leader Sajith Premadasa was also present at the event. Had the Governor made a statement this controversial, it would almost certainly have become a major political talking point by now. Neither the Opposition Leader, any other MP, nor Dr. Weerasinghe has made any reference to such a statement.

Response From the Central Bank (CBSL)

When we contacted the Central Bank of Sri Lanka, the Communications Department confirmed that both the social media post and the alleged conversation are completely fabricated.

The Communications Department stated that the Governor has never made such a statement at any time, and that the post was created with the intention of misleading the public.

Current Economic Situation and the Exchange Rate

In recent media briefings and official statements, the Central Bank Governor has explained that although challenges remain in stabilizing the economy, Sri Lanka is now in a much stronger position to withstand external shocks compared to previous crisis years.

He has also previously clarified that fluctuations in the Sri Lankan Rupee’s value do not amount to economic collapse. According to the Governor, recent exchange rate movements have mainly been driven by global market conditions and external factors affecting not only Sri Lanka but several other countries in the region.

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Conclusion :

Our fact-check confirms that the social media posts claiming Central Bank Governor Dr. Nandalal Weerasinghe admitted “the country’s economy is collapsing” during a conversation with MPs are false. The Central Bank has officially confirmed the claim is fabricated.

Neither Dr. Weerasinghe, Opposition Leader Sajith Premadasa, nor any other MP present at the event has stated that such a conversation took place. The Governor’s actual public statements describe a strengthening economy and attribute recent exchange rate movements to global market conditions, not domestic collapse.