The Sri Lankan government has printed Rs. 03 trillion of cash, said Sri Lanka Freedom Party (SLFP) MP Ranjith Siyambalapitiya, speaking to Parliament yesterday (04).
Accordingly, the country is driving itself into a hyper-inflation risking the emergence of complicated problems and the situation could be irreversible should it continue, the SLFP MP said.
But Sri Lanka has relegated even below the level of bankruptcy as per announcement made by Finance Minister Ali Sabry that foreign reserves have dropped below US$ 50 million, SJB MP Dr. Harsha de Silva said.
Meanwhile the Colombo sources said that China agreed to a loan restructuring programme as China has done the same with many other African and South American countries that have obtained huge loans from China.