• Printing of currency in unlimited proportions has created the present inflation in the country

By Shane Seneviratne 

Professor in Economics in the Peradeniya University Ananda Jayawickrema said the printing of currency in almost unlimited proportions has created the present inflation in the country and that the people would soon face a state of hunger without means to find food.  

 He told the media in Kandy yesterday that several countries that resorted to limitless printing currency had faced similar crises. He pointed out that Germany and Zimbabwe were among them.

“Germany printed dollar currency used in the country to pay compensation to the countries affected by the Second World War and Zimbawe to pay compensation to the estates acquired from foreigners in 2007. The foreigners who left the country with the dollar reserves creating severe inflation in Zimbawe. The people could buy only three eggs for 100 Trillion dollars. A similar situation is brewing in Sri Lanka”  Prof. Jayawickrema further said. 

• Several countries that resorted to limitless printing currency had faced similar crises