INSUBCONTINENT EXCLUSIVE:
today (15 Sep.), Acting Minister of Finance Ranjith Siyambalapitiya said.Accordingly, the Acting Minister explained that as per the new Act,
excessively, in the recent past.He emphasised that such money printing would be allowed only under special circumstances, such as a concern
of national security or a global health crisis, adding that only an amount not exceeding 5% of the value of the issued Treasury Bills can be
printed.Siyamabalapitiya further explained that the CBSL will now be required to work towards achieving the set inflation target, and in the
event it fails to do so, it will be required to explain why.Meanwhile, with regards to appointments to the General Board of Governors of
CBSL, Siyambalapitiya emphasised that the Treasury Secretary will no longer be involved in this process
He added that the qualifications required for such appointments have also been listed in the new CBSL Act, while all such appointments will
require approval from the Constitutional Council.
