OBMSGATEWAY

OBMSGATEWAY
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Monday, November 17, 2014

OKONJO-IWEALA: PRINTING MORE MONEY WILL SPUR INFLATION

Printing money without adequate revenue support will lead to serious consequences for the country.

It will spur inflation as the experiences of Germany in the early part of the last century and more recently, Argentina and Zimbabwe demonstrate.

This prescription will victimise the poor and the middle class that it is supposedly protecting.

The best way to protect the interest of the ordinary people is to control inflation as much as possible, expand the economic base, strengthen the sectors that drive growth, boost critical infrastructure and create more jobs.

We have already started doing that, the results are already coming but we still have a lot of work to do.

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