• Wed. Jul 24th, 2024

Sri Lanka’s Central Bank Printed Rs.77.05 billion in Q1

Central Bank of Sri Lanka (CBSL) printed Rs.77 05 billion in the first quarter of this year compared to a record Rs.588 billion a year ago.

Money printing in March rose to the highest levels so far during the year as CBSL printed a record Rs.60.23 billion.

After reaching a staff-level agreement with IMF for the bailout package in last September, the money printing drastically reduced.Under the arrangement with IMF, the CBSL is restricted from printing money except for debt repayments.

The IMF under its $3 billion EFF allowed the Government to use part of the facility for budgetary requirements.

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