Ex-PNB CEO rubbishes deputy minister's 'print more money' idea

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Former PNB chief executive officer (CEO) Jalil Rasheed has rubbished the idea of printing money to help the economy.This is after Youth and Sports Deputy Minister Wan Ahmad Fayhsal Wan Ahmad Kamal suggested that Bank Negara print more ringgit notes to give to the people to spend.Speaking to BFM radio on Monday, the deputy minister said this can be coupled with forgiving debt to help the people."We can couple this (forgiving debt) with a helicopter money monetary policy, where the central bank can directly print money and give it to the people so that they can spend it."These are some measures that are quite doable, we just need an innovative policy from the central bank as well," he said. Wan Ahmad Fayhsal Wan Ahmad Kamal Helicopter money refers to a policy of printing a large sum of new money to be distributed among the public, to stimulate the economy during a r…