It is reported that the Central Bank of Sri Lanka has printed nearly one hundred billion rupees. Commenting on this, Matale District Samagi Janabalawega leader Rohini Kaviratne says that the government continues to borrow through treasury bills and has started ‘money molding’ using a recognized money molding mechanism.
“The central bank is creating money through the term auction and the overnight auction as a short-term financing mechanism.”
Central Bank of Sri Lanka on 25 October 2024 (Friday) Rs. An amount of 36.16 billion has been pumped into the country’s monetary system through an overnight auction. Its simple practical meaning is that the Central Bank of Sri Lanka has minted 36.16 billion rupees through it,” she says.
In the last 7 days of the last week, the Central Bank has molded the amount of Rs. 70 billion.
By October 25, 2024, the excess liquidity deposited in the central bank’s standing facility will be Rs. 193.4 billion. A month ago, that excess liquidity was Rs. remained 138 billion. Accordingly, the excess liquidity in a month is Rs. 55.4 billion has increased.
Tomorrow (Oct. 28), the government will issue another Rs. 14,500 crores or Rs. The central bank is working to get a loan of 145,000 million.
In order to control the inflation of the country and to have economic stability, money molding should be controlled. However, it is very clear that the ret economy is entering a dark wrong path, said Mrs. Kaviratne.
– Media unit