26 February 2011

Sri Lankan President Requests Advanced Economies not to Expose the World to Danger by Money Printing

25th February 2011, www.news360.lk

Sri Lankan President Mahinda Rajapaksa today made a request from the advanced economies in the World to act in a responsible manner and not to place the world in danger by acting irresponsibly.

The President warned that massive quantities of new money injected by certain advanced nations into their economy would have a negative impact on the rest of the world in time to come.

Rajapaksa expressed his concern while addressing the South East Asian Central Bank Governors who are currently taking part in a conference in Colombo.

Speaking about the injection of new money by advanced economies Rajapaksa said “It is widely expected that such infusion, while possibly stimulating growth and employment within the issuing nation, would have a massive negative impact on the rest of the world in time to come”.

He said such decisions should to be taken in consultations with multi-laterals institutions and other key players rather than making unilateral decisions.

Central Bank Governors from countries like Singapore, Thailand, China, Papua New Guinea, Cambodia, Indonesia, Korea, Mongolia, Pakistan and Nepal are taking part in this two day South East Asian Central Bank Governors conference which will end tomorrow.

3 comments:

Anonymous said...

A timely request before we all go under a deluge of Dollars.

Anonymous said...

Not only for US, money printing is not good for ANY country.

Anonymous said...

Not necessarily. If Sri Lanka prints money, that would be their problem. But, If America (US) prints money, that would be a global issue.

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