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SRI LANKAN BANKER SAYS MONEY SHOULD NOT BE PRINTED FOR WARS.
COLOMBO, Sept 1 Asia Pulse - A central bank should not relax monetary policy (print more money) to increase employment, or finance wars and subsidies, because inflation, which is worse than terrorism, would be the result, a top Sri Lankan economist said.
"Though societies should fight terrorism with real resources mobilised from the society, it is not advisable to use central banks nominal resources to fight such wars," W A Wijewardene, deputy governor of Sri Lanka's central bank, said.
"This is because when inflation raises its ugly head, it is also like a terrorist who has no mercy on anyone who fails to index his income with inflation.
...
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Source: HighBeam Research, SRI LANKAN BANKER SAYS MONEY SHOULD NOT BE PRINTED FOR WARS.