Indrajit Coomaraswamy Explained

Indrajit Coomaraswamy
Native Name:Tamil: இந்திரஜித் குமாரசுவாமி
Sinhala; Sinhalese: ඉන්ද්‍රජිත් කුමාරස්වාමි
Office:Governor of the Central Bank of Sri Lanka
Term Start:2 July 2016
Term End:20 December 2019
Predecessor:Arjuna Mahendran
Successor:W. D. Lakshman
Birth Date:1950 4, df=yes
Birth Place:Colombo, Ceylon
Nationality:Sri Lankan/British
Spouse:Tara de Fonseka
Children:Imran, Arjun
Parents:Rajendra Coomaraswamy (father)
Wijeyamani (mother)
Relatives:Radhika Coomaraswamy (sister)
Profession:Economist

Deshamanya Indrajit Coomaraswamy (Tamil: இந்திரஜித் குமாரசுவாமி, Sinhala; Sinhalese: ඉන්ද්‍රජිත් කුමාරස්වාමි; born 3 April 1950) is a Sri Lankan economist. He served as the 14th Governor of the Central Bank of Sri Lanka.[1] [2]

Early life and family

Coomaraswamy was born on 3 April 1950 in Colombo, Ceylon.[3] [4] He was the son of civil servant Rajendra Coomaraswamy (Roving Raju) and Wijeyamani.[5] [6] [7] His paternal grandfather C. Coomaraswamy was a civil servant and his maternal grandfather S. K. Wijeyaratnam was chairman of Negombo Urban Council.[5] [7] [8] He has one sister, Radhika.[5] [6] Coomaraswamy was educated at Royal College, Colombo and at Harrow School in England.[7] [9] [10] He was captain of Royal's primary cricket team.[8] He was captain of Harrow's cricket team from 1967 to 1968 and also played rugby for the school for three years.[4] [11]

After school he went to Emmanuel College, Cambridge, from where he received BA (Hons) and MA degrees.[7] [9] [12] He played two matches of first-class cricket for Cambridge University Cricket Club, one in 1971 and one in 1972.[3] [13] He then proceeded to the University of Sussex from where he obtained a DPhil degree.[7] [9] [12]

Coomaraswamy is married to Tara de Fonseka.[13] They have two sons – Imran and Arjun.[13] Coomaraswamy is a Sri Lankan Tamil.

Career

Coomaraswamy joined the Central Bank of Sri Lanka in 1973, working as a staff officer in its Economic Research, Statistics and Bank Supervision divisions until 1989.[7] [9] [13] [14] He was seconded to the Ministry of Finance and Planning between 1981 and 1989 to provide advice on macroeconomic issues and structural reforms.[7] [9] [13] [14] [15] He worked at the Commonwealth Secretariat from 1990 to 2008, holding various posts including Chief Officer, Economics in the International Finance and Markets Section; Director of the Economic Affairs Division; and Deputy-Director of the Secretary-General's Office.[7] [9] [13] [14] He was an advisor to Prime Minister Ranil Wickremesinghe and Project Minister of Economic Reforms, Science and Technology Milinda Moragoda between 2001 and 2002.[15]

Coomaraswamy rejoined the Commonwealth Secretariat in 2010 as Interim Director of its Social Transformation Programme Division.[7] [9] [13] [14] He was special advisor to the controversial Galleon Group hedge fund.[14] He was director of a British company called Galleon Research Services Limited, a wholly owned subsidiary of Galleon International Management LLC.[16] [17] He was appointed as a non-executive director of John Keells Holdings PLC in February 2011.[13] [18] He was appointed as a director of Tokyo Cement Group in March 2011.[13] [15] [19] He worked briefly for Hatton National Bank and was a director of SEEDS (Guarantee) Limited.[12] [15] [20] He was a member of the University of Sri Jayewardenepura's Board of Study (Public Administration) and a director of Nawaloka College of Higher Studies.[21] [22] He was later a senior advisor to Minister of Development Strategies and International Trade Malik Samarawickrama.[23] [24]

Coomaraswamy was appointed Governor of the Central Bank of Sri Lanka in July 2016, replacing Arjuna Mahendran whose tenure was mired by allegations of corruption.[10] [25] [26] He resigned from the position in December 2019.[27]

Sports career

Coomaraswamy played rugby for Ceylonese Rugby & Football Club and captained the national team in the 1974 Rugby Asiad.[8] [11] [13] He also played cricket for the Tamil Union Cricket and Athletic Club.[8] [11] [13]

Notes and References

  1. News: Ondaatjie. Anusha. Sri Lanka Names Economist Coomaraswamy as Central Bank Chief. Bloomberg Markets. 2 July 2016.
  2. News: Dr. Coomaraswamy new Central Bank Governor. Sri Lanka Guardian. 2 July 2016.
  3. Web site: Indrajit Coomaraswamy. ESPNcricinfo.
  4. Web site: Indrajit Coomaraswamy. The Cricketer. 3 July 2016. https://web.archive.org/web/20160817033705/http://stats.thecricketer.com/Players/28/28699/28699.html. 17 August 2016. dead.
  5. Book: Arumugam, S.. S. Arumugam

    . Dictionary of Biography of the Tamils of Ceylon. 1997. 43. S. Arumugam.

  6. News: Weerakoon. Bradman. Remembering Raju Coomaraswamy. The Island. 31 July 2005.
  7. News: Balachandran. P. K.. Coomaraswamy is compromise choice for Lankan Central Bank Governorship. https://web.archive.org/web/20160703113523/http://www.newindianexpress.com/world/Coomaraswamy-is-compromise-choice-for-Lankan-Central-Bank-Governorship/2016/07/02/article3510551.ece1. dead. 3 July 2016. The New Indian Express. 2 July 2016.
  8. News: Ladduwahetty. Ravi. Dr Manmohan Singh was committed to non-interference with Asian economies. The Island. 13 December 2012.
  9. News: Dr. Indrajit Coomaraswamy new Central Bank Governor. Daily News. 2 July 2016.
  10. News: Ramakrishnan. T.. Indrajit Coomaraswamy new Governor of the Central Bank of Sri Lanka. The Hindu. 2 July 2016.
  11. News: Wijesekera. Bernie. Indrajith still a humble soul. The Sunday Times. 4 September 2005.
  12. News: Dr. Indrajit Coomaraswamy joins SEEDS Board. Daily FT. 8 December 2011.
  13. News: David. Anusha. Indrajit Coomaraswamy. life.lk. 19 March 2015.
  14. Web site: Interview with Indrajit Coomaraswamy. Commonwealth Oral Histories. 29 June 2015.
  15. News: Dr. Indrajit Coomaraswamy appointed to Tokyo Cement Board. Daily FT. 1 April 2011.
  16. Web site: Indrajit Coomaraswamy. Companies House.
  17. News: Coomaraswamy replaces Mahendran but other headaches remain. Sunday Island. 3 July 2016.
  18. Web site: Leadership. Leadership . John Keells Group. dead. https://web.archive.org/web/20101231223521/http://www.keells.com/leadership.html. 31 December 2010. dmy-all.
  19. Web site: Board of Directors. Tokyo Cement Group.
  20. News: Dr Commaraswamy appointed to Tokyo Cement board. The Island. 6 April 2011.
  21. Web site: University Administration. University of Sri Jayewardenepura. 3 July 2016. https://web.archive.org/web/20160711021751/http://www.pim.lk/index.php/university-administration-2/. 11 July 2016. dead.
  22. Web site: About Us. Nawaloka College of Higher Studies.
  23. News: Lessons on investment from S'pore HC. The Nation. 25 February 2016.
  24. News: Perera. Quintus. Resurgence in Sri Lanka's economy soon. The Sunday Times. 28 February 2016.
  25. News: Sirilal. Ranga. Aneez. Shihar. Sri Lanka appoints ex-central banker Coomaraswamy as new central bank chief. Reuters. 2 July 2016.
  26. News: Dr. Indrajit Coomaraswamy appointed Central Bank Governor. news.lk. 2 July 2016.
  27. News: Sri Lanka's Central Bank Governor to leave his post in December . 27 November 2023 . Lanka Business Online . 25 November 2019.