CBSL prints Rs. 202 billion, government committing mistake says Fmr. Dep. Governor

CBSL prints Rs. 202 billion, government committing mistake says Fmr. Dep. Governor

CBSL prints Rs. 202 billion, government committing mistake says Fmr. Dep. Governor

Written by Muaad Razick

30 Dec, 2021 | 10:58 pm

COLOMBO (News 1st); Sri Lanka’s Central Bank data show that Rs. 202 billion had been printed on Wednesday (29).

It’s the first time since it had printed money since the 14th of October 2021.

This brings the total money printed so far this year up to Rs. 825 billion.

Wednesday’s (29) printing of money had taken place while a treasury bill auction went undersubscribed as well.

The central bank had issued treasury bills to gain Rs. 48.5 billion on Wednesday (29).

But it only received Rs. 33.5 billion.

Former Deputy Governor of the Central Bank Dr. W. A Wijewardena says the artificial controls on interest and exchange rates have caused the current economic crisis in Sri Lanka.

” There are lots of mistakes committed by the present administration concerning the economy of the country. Some of the are that the price control gazette being withdrawn ”, said Dr. Wijewardena.

He added that all other controls also have been withdrawn. But still, there are the import controls, converse, and requirements.

The former Governor said, that all these things have frightened not only the citizens of Sri Lanka but also our protective investors, and these things have to be reported as soon as possible and the country has to go back to the operations of a market economy in order to build confidence and push Sri Lanka back to a long term economic growth.

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