The govt has been warned against excessive printing of money as it negatively drives money supply growth and interest rates, the Daily News reports.
The CEO roundtable in a statement on the economy expressed their concern on the money supply growth usually enabled by excessive printing of money, which then drives up inflation.
The statement about the economic situation by the CEO Roundtable Chairman Mr Oswell Binha said in part:
In doing so, the government has the obligation to consult key stakeholders before they introduce key policy changes.
Too much money printing has far greater consequences for the preservation of currency than any other variables in the universe, therefore, the most important policy measure to give the currency a fighting chance is firm determination to control money supply growth,
The CEO Roundtable’s statement comes at a time the govt is slowly injecting more into the market.
More: Daily News
But there is rampant inflation now when the government hasn’t been printing much money and paying civil servants peanuts?Why not give advice on that issue?