by Sanath Nanayakkare A former Deputy Governor of the Central Bank of Sri Lanka yesterday urged the country’s economic policymakers to develop and propose economic strategies and policies to benefit the overall economy in the medium to long term as their short-term measures such as import restrictions and excess money supply in the market through money printing could cause negative repercussions. Dr. W.A. Wijewardena made this comment while speaking at a virtual presentation and panel discussion on the Sri Lanka Development Update 2021 launched by the World Bank. “Increasing the money supply faster than the growth in real output will cause inflation. The money supply growth numbers so far warn us of an accelerated inflation. In fact, inflation in Sri Lanka is a ‘historical heritage’ which is higher than many global rates including the annual inflation rate in the US,” he said.