In a recent press conference held on October 29, Cabinet Spokesperson Minister Vijitha Herath announced that the new government has not printed any money to date. He also confirmed that no foreign loans have been acquired from international institutions thus far.
Minister Herath’s comments came in response to a journalist’s inquiry regarding the government’s financial practices. He explained, “Generally, the Central Bank has a system for issuing new currency in proportion to the maturity of treasury bills and bonds, which occurs daily. While the topic of minting money often arises, it is important to clarify that we have not actually minted any new money; this process is not feasible. We would like to see a banknote featuring the signature of the current administration, but such a note has yet to be issued. Any reports suggesting otherwise are completely false.”
Despite Minister Herath’s statements, the internationally recognized economic website Econominnext reported yesterday that the government has printed 100 billion through various means.
