By the dawn of the new millennium, Sri Lanka was war-weary. The military camps along the Mullaitivu, Kilinochchi, Eastern Province and A9 roads, which stretched for 52 km, had fallen into enemy hands.The southern port and airport had come under enemy attack. The capital was a shooting range for the Tigers. Sri Lanka and Eelam shared a border. A southern citizen had to obtain a visa from the LTTE to travel to the north, paying a fee.
At that time, hopes for a unified country were dying.
It was against this backdrop that Mahinda took over the country in November 2005.
Nevertheless, the Madamulana Mahinda did not flinch in the face of the Vellvetithurai Prabhakaran. He was also not afraid of the “whites” who were pulling the strings of the Tigers. The liberation project started at Mavil Aru Sluice was victoriously completed at Nandikadal Lagoon.
It was a collective victory.
While the war heroes including Fonseka were fighting, another group in the South was fighting another war to maintain the economy. The then Central Bank Governor Ajith Nivard Cabraal was at it’s forefront.
By now, the Greek bond deal that Ajith Nivard Cabraal made in 2011 has become a controversial issue.
In 2011, the profit made from the Central Bank’s reserve Management under Ajith Nivard Cabraal was Rs. 47.3 billion. He made that profit by investing a small part of the portfolio in Bonds of countries such as Ireland, Spain, and Pakistan. However, the investment made in Greece resulted in a loss of Rs.1.8 billion, although at the time when the investment was made, Greece was rated BB. At the same time, all the investments in the above countries were made with the approval of the Central Bank’s Foreign Operations Unit and the Monetary Board.
Therefore, if the Court thinks that Cabraal should bear the loss of Rs.1.8 billion from the Greek bond transaction, then Cabraal should be entitled to the profit made that year, which is Rs.47.3 billion.
While the war was fought by the war heroes, the logistical support for their efforts smoothly flowed like a river because of Ajith Nivard Cabraal and his colleagues.
Although Ajith Nivard Cabraal was not honoured with any medals, the work done by him and his colleagues at the back-end of the military operation, was immense.
This appreciation is recorded on the birthday of this unsung hero.
*Keerthi Ratnayake*
