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Sri Lanka's Samagi Jana Balawegaya stands for reform of the central bank to ensure accountability and transparency as well as ensuring its independence, its leader Sajith Premadasa said as the country is hit by one of the worst currency crises it is history after a bout of money printing.
Sri Lanka's main opposition Samagi Jana Balawegaya stands for reform of the central bank to ensure accountability and transparency as well as ensuring its independence, its leader Sajith Premadasa said as the country is hit by one of the worst currency crises it is history after a bout of money printing.
Sri Lanka's main opposition Samagi Jana Balawegaya stands for reform of the central bank to ensure accountability and transparency as well as ensuring its independence, its leader Sajith Premadasa said as the country is hit by one of the worst currency crises it is history after a bout of money printing.
Sri Lanka should not use foreign reserves for imports, because under a 6.5 percent policy rate an equal amount of money will be printed, which will prevent a contraction in credit and reserve money, encourage imports, perpetuate forex shortages and bring the country closer to default.
Sri Lanka's gross overnight liquidity injections topped 400 billion rupees by mid December as money was printed to offset dollar sales by the central bank (sterilized interventions) and sell downs of a Treasuries stock held outright.