Print more money rather than borrow, Putrajaya urged

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Money supply is controlled by Bank Negara Malaysia. An economist has suggested that the government increase the money supply instead of taking more loans.PETALING JAYA: An economist says the government’s move to raise its debt ceiling will give it more room to borrow money for programmes to stimulate economic recovery, but believes Putrajaya should opt for a different approach. Kameel Mydin Meera, a former dean of the Institute of Islamic Banking and Finance at the International Islamic University Malaysia, believes the government should opt for quantitative easing instead. Quantitative easing allows the government to increase the supply of money in the economy without borrowing. It involves printing or creating new ringgit and the idea is to boost spending within the economy and in doing so, stimulate the economy. Speaking to FMT, Kameel said the government will need to roll out…