The Central Bank Act, which was passed making the Central Bank and its activities more independent, will come into effect from today (15).
Acting Minister of Finance Dr. Ranjith Siambalapitiya says that the printing of money by the Central Bank will be limited from now on.
Accordingly, in the case of a special security problem in the country or a world-class health problem, money printing is allowed only under exceptional circumstances.
The minister also mentioned that only an amount not exceeding 5% of the value of the issued treasury bills can be printed.
Mr. Ranjith Siyambalapitiya, the Acting Minister of Finance, who explained some of the special points of the Central Bank Central Bank Act effective from today, also said: