Dr. H N S Karunatilake (1988 – 1992)

 Dr. Halwalage Neville Sepala Karunatilake was the eighth Governor, assuming duties in November 1988 and vacating his position in June 1992.  

Educated at Trinity College, Kandy, Dr. Karunatilake obtained his BA Degree in Economics in 1952 with an entrance scholarship from the University of Ceylon. He then began his career as a visiting lecturer at the Universities of Colombo and Sri Jayawardenapura (then Vidyodaya University). He joined the Central Bank in March 1953 and initially worked in the Economic Research Department. Dr. Karunatilake pursued his post graduate education through Scholarships awarded by the Colombo Plan and Fulbright. With these opportunities, he obtained his MSc in Economics from the London School of Economics (1957). The MPA (Harvard) and MA Economics (Harvard) degrees were obtained through his Fulbright Research Fellowship during 1964-1965. He was also made a Research Fellow in Economics during his time at the Harvard University. Dr. Karunatilake was awarded the PhD in Economics from the University of London in 1972.

In 1975, Dr. Karunatilake became Director of the Economic Research Department and was appointed Deputy Governor in 1978. During his career at the Central Bank, Dr. Karunatilake provided his services and expertise to a range of institutions such as financial institutions, universities, Boards of research institutions, Bankers’ Training Institute (presently Institute of Bankers of Sri Lanka), Cabinet subcommittees and several state and private sector organisations. 

He was President of the Society for International Development (Sri Lanka Chapter), President of the Sri Lanka Economic Association and the first editor of the Sri Lanka Economic Journal. He published many books on economics and banking in addition to having more than 150 articles published in local and foreign journals.