Sri Lanka promises to stop printing money soon as inflation hits 60%

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by Boo_Randy

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Sri Lanka, which is facing one of the worst economic crises in years with depleting foreign reserves, recorded the highest inflation in Asia amid plans to stop printing local currency to pay salaries.

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Prime Minister Ranil Wickremesinghe said on Tuesday that the inflationrate is expected to reach 60 per cent. Printing local currency was an attempt at quashing what’s been called Asia’s fastest inflation.


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