{"id":153811,"date":"2025-12-22T18:03:48","date_gmt":"2025-12-23T01:03:48","guid":{"rendered":"https:\/\/www.lankaweb.com\/news\/items\/?p=153811"},"modified":"2025-12-22T18:03:48","modified_gmt":"2025-12-23T01:03:48","slug":"how-we-administrators-developed-sri-lanka-on-rupees-till-the-end-of-1977-3","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2025\/12\/22\/how-we-administrators-developed-sri-lanka-on-rupees-till-the-end-of-1977-3\/","title":{"rendered":"How We administrators developed Sri Lanka on Rupees till the end of 1977."},"content":{"rendered":"<h2><span style=\"color: #0000ff;\"><em><strong><u>by Garvin Karunaratne<\/u><\/strong><\/em><\/span><\/h2>\n\n\n<p>Posted on January 17th, 2024<\/p>\n\n\n\n<p>Our monetary economists of today have decided that printing money is to be stopped till the end of the year. The new Central Bank Act of 2023 is said to forbid money printing. Some foremost economists and the Central Bank of Sri Lanka are of the opinion that printing money causes inflation and should not be done.<\/p>\n\n\n\n<p>I lived in Sri Lanka till 1973 and worked in senior Administrative Service positions from 1955 to 1973- some 17 years handling arduous development tasks all done with locally printed Rupees. In 1970, as a Deputy Director of the Small Industries Department, I actually handled foreign currency disbursement to all small industrialists in the country. Thus I speak with firm authority, through sheer experience -not research knowledge picked up from the internet or research, following ideas of elite professors or guided by utterances from foreign monetary institutions<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-lankaweb-com wp-block-embed-lankaweb-com\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"UlaLMxwEHQ\"><a href=\"https:\/\/www.lankaweb.com\/news\/items\/2024\/01\/17\/how-we-administrators-developed-sri-lanka-on-rupees-till-the-end-of-1977\/\">How We administrators developed Sri Lanka on Rupees till the end of 1977.<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#8220;How We administrators developed Sri Lanka on Rupees till the end of 1977.&#8221; &#8212; LankaWeb.com\" src=\"https:\/\/www.lankaweb.com\/news\/items\/2024\/01\/17\/how-we-administrators-developed-sri-lanka-on-rupees-till-the-end-of-1977\/embed\/#?secret=btJScrrAhj#?secret=UlaLMxwEHQ\" data-secret=\"UlaLMxwEHQ\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>by Garvin Karunaratne Posted on January 17th, 2024 Our monetary economists of today have decided that printing money is to be stopped till the end of the year. The new Central Bank Act of 2023 is said to forbid money printing. Some foremost economists and the Central Bank of Sri Lanka are of the opinion [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57],"tags":[],"class_list":["post-153811","post","type-post","status-publish","format-standard","hentry","category-by-garvin-karunaratne"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/153811","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=153811"}],"version-history":[{"count":1,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/153811\/revisions"}],"predecessor-version":[{"id":153812,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/153811\/revisions\/153812"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=153811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=153811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=153811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}