Money printing increases by Rs 29.882 B, passes Rs 1.8 T
By Paneetha Ameresekere
Government of Sri Lanka’s (GoSL’s) face value money printing (FVMP) debt breached the Rs 1.8 trillion barrier yesterday, increasing by Rs 29,882 million (1.68 per cent) to Rs 1,804,400.94 million (Rs 1.8044trillion) due to a lack of revenue. GoSL’s FVMP debt has been over Rs one trillion for a record 79 consecutive market days to yesterday.
In related developments, GoSL’s highest to the fifty second highest FVMP debt has been registered in the 52 consecutive market days to yesterday, though not necessarily in a particular order. GoSL’s FVMP debt is equivalent to the FV of Central Bank of Sri Lanka’s (CBSL’s) Treasury (T) Bill and T Bond holdings. The only mandated authorised body to print money is CBSL. Yesterday’s Rs 29,882 million increase was however non-demand pull inflationary causing as it was used to meet an external and not a domestic commitment.