Sajith on Cabraal-Economics: Does money-printing have no repurcussions?

Sajith on Cabraal-Economics: Does money-printing have no repurcussions?

Sajith on Cabraal-Economics: Does money-printing have no repurcussions?

Written by Amani Nilar

07 Jan, 2022 | 9:29 pm

COLOMBO (News 1st); The Central Bank Governor does not have the slightest idea on the repercussions faced by countries such as Argentina, Greece, Venezuela and Zimbabwe due to printing money, alleges Opposition Leader Sajith Premadasa. 

Speaking at the ceremony to donate medical equipment to the Vavuniya District General Hospital in line with the Samagi Jana Balawegaya’s Vipakshayen Husmak program, the Opposition Leader mentioned that the Central Bank Governor, Ajith Nivard Cabraal has claimed that printing money will not impact the economy. 

Citing CBSL reports of Sri Lanka’s reserves topping 3.1 billion dollars by the 31st of December, the Opposition Leader said that although Sri Lanka can claim as such due to recent loans received, it is not possible to convert Yuan to Dollars. 

Moreover, Premadasa stated that those in the Government continue to assume that they can simply print money to distribute Rs. 5,000 to deceive the people and to obtain their votes.

He also stated that although the war has ended long ago, the Government continues to conduct international conferences seeking aid.

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