Opposition’s allegations regarding money printing are untrue: Cabraal

Minister of State Ajith Nivard Cabraal claimed that all the allegations leveled against the government by the opposition regarding money printing are false.

This was stated by the Minister of State at a media briefing held at the Government Information Department today.

“ Money printing is a temporary payment made by the central bank to carry out the current programs,” he said.

He stated that about 10 per cent of the money is expected to be spent by the central bank through the country’s budget for the year.

“In some cases, the government is unable to repay the amount as the program progresses. Such conditions are not unique to 2021. Proponents of the case have been working to make the actual transcript of this statement available online. The Opposition is trying to exaggerate it,” Cabraal said.