Money Printing at Rs 1.6074T establishes new record

Government of Sri Lanka’s (GoSL’s) non-demand-pull inflationary face value money printing (FVMP) debt increased by 0.29 per cent (Rs 4,572 million) to a new record high of Rs 1,607,398.46 million (Rs 1.6074 trillion) yesterday. GoSL’s highest to the seventeenth highest FVMP debt has been registered in the 17 consecutive market days to yesterday, though not necessarily in a particular order.

The highest, Rs 1.6074 trillion was recorded yesterday, second highest Rs 1.6071 trillion was recorded on Friday 17 September, the third highest figure of Rs 1.6028 trillion was recorded on Tuesday 21 September, the fourth highest 1.5776 trillion was on Thursday 16 September, the fifth highest Rs 1.5560 trillion on Tuesday 14 September, the sixth highest Rs 1.5498 trillion on Wednesday 15 September, the seventh highest Rs 1.5429 trillion on Monday 13 September, eighth highest FVMP debt of Rs 1.5409 trillion on 10 September, ninth highest figure of Rs 1.5324 trillion on 8 September, tenth highest figure of Rs 1.5307 trillion on 7 September, eleventh highest figure of Rs 1.5306 trillion on 9 September, twelfth highest figure of Rs 1.5285 trillion on 3 September, thirteenth highest figure of Rs 1.5279 trillion on 6 September, fourteenth highest figure of Rs 1.5118 trillion on 2 September, fifteenth highest figure of Rs 1.4991 trillion on 1 September, sixteenth highest figure of Rs 1.3658 trillion on 31 August and the seventeenth highest figure of Rs 1.3177 trillion on 30 August respectively.

GoSL’s FVMP debt has been over Rs 1 trillion for a record 44 consecutive market days to yesterday (Wednesday 22 September) due to a lack of revenue. MP is equivalent to the face value holdings of Treasury (T) Bills and T Bonds by Central Bank of Sri Lanka (CBSL). CBSL is the only mandated authority to print money in the country.