Deputy Minister of Economic Development Anil Jayantha has reiterated in Parliament that the government has not printed money as claimed by various factions.
He was responding to claims made by certain organizations alleging that Rs. 1.2 trillion had been printed under the incumbent administration.
The Deputy Minister said such statements were either made “intentionally or out of ignorance.”
He explained that, under present circumstances, the government neither has the ability nor the legal authority to print money.
Clarifying further, he stated that the recent monetary expansion has taken place through reserve money operations carried out by the Central Bank of Sri Lanka (CBSL), which should not be confused with government-driven currency printing.
He stressed that portraying it otherwise is misleading to the public.
The Deputy Minister noted that Sri Lanka currently has Rs. 1.6 trillion in reserve money, while the broad money supply has reached nearly Rs. 15 trillion.
He emphasized that this growth in the broad money supply was due to Central Bank interventions, and not due to printing of money by the government.
