Money printing will not in any way impact the inflation of the country. -S.R. Attygalle-

Money printing will not in any way impact the inflation of the country. -S.R. Attygalle-

Money printing will not in any way impact the inflation of the country. -S.R. Attygalle-

Written by Staff Writer

30 Jul, 2021 | 10:21 pm

COLOMBO (News1st): Secretary to the Treasury and Ministry of Finance – S.R. Attygalle says  that even though the Central Bank of Sri Lanka has taken steps to print large sums of money in the past, that will not in any way impact the inflation of the country.

The Secretary to the Ministry of Finance expressed these views attending a media briefing that was held online to apprise the public of the current economic situation of the country.

“Most people think that inflation might go up when we print more money. The inflation might go up only if you use that money” he added.

“The Central Bank will give us dollars if we give them rupees in return. That is what has happened here. It was the Central Bank that paid off this amount by using the reserves” the Secretary to the Ministry of Finance said.

“In order to do that, I had to issue a Treasury Bill. Then the money circulation was not affected” he went on to say.

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