Syria is printing new bank notes in Russia to replace old and damaged bills and is not increasing the amount of cash in circulation, central bank Governor Adib Mayaleh said today.
Mayaleh was responding to a Reuters news agency report that Syria was financing its fiscal deficit with new cash.
“We have worn out currency that should be replaced,” Mayaleh said in an interview with state-run Syrian TV.
The measure will have “no effect on inflation or prices,” Mayaleh was quoted as saying by state-run SANA news agency on June 17.
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