According to Parliamentarian Udaya Gammanpila, the current Central Bank Governor, Nandalal Weerasinghe, holds the record for printing the most currency notes.
He was appointed governor after pinpointing that printing money was a bad monetary practice, but he has printed more money than ex-Governor Ajith Nivard Cabraal.
It was revealed that Governor Nandalal Weerasinghe has printed 55% more money daily than Governor Ajith Nivard Cabral.
Former Minister Udaya Gammanpila disclosed the statistics relating to money printing. He also pointed out how these funds were spent.
The MP said that no matter how much he knows about the implications, Central Bank Governor Nandalal Weerasinghe is addicted to money printing just like a drug pusher is addicted to drugs.
He also predicted that in 2023, nearly 5 trillion rupees will have to be minted.
Udaya Gammanpila also said:
“Initially, Nandalal Weerasinghe, taking over the position as the Governor of the Central Bank, said that due to his predecessors’ decision to print money, the country’s inflation has risen and the country’s economic crisis has intensified beyond accepted limits.”
“Having said that, he has now become the central bank governor who has minted the largest amount of money in history .”
“We have to understand with numbers whether this story is true or not.”
“Professor W.D. Laxman has issued Treasury bills of 1260 billion rupees in the 551 days from March 13, 2020, to September 14, 2021, when he was in the position of Governor of the Central Bank. That means money has been moulded. In plain language, he has minted money at the rate of 2.18 billion rupees per day.
“Next comes Governor Nivard Cabral of the Central Bank. He has issued new Treasury bills totalling 446 billion rupees within a period of 203 days from September 15, 2021, to April 5, 2022. That means he has minted money worth 2.2 billion rupees per day. Mr. Lakshman’s record is broken by Mr Cabral, who makes more than billions.
“After that comes Mr Nandalal Weerasinghe, the current Governor of the Central Bank, who preached to us all over the media about the habit of moulding money.”
“From April 6, 2022, to September 30, 2022, he issued 590 billion rupees in new Treasury bills.” That means, during his time, money worth 3.37 billion rupees has been minted every day.
