Dec 05, 2021

SL Foreign reserves down to lowest in history 

Sri Lanka’s Opposition Samagi Jana Balawegaya has alleged in Parliament last week that foreign reserves have dropped to USD 1.5 billion which included the gold reserves of USD 300 million.

The Government did not refute the opposition claim that the available cash reserve was only USD 1.5 billion less than one month’s import payment, lowest in history. 

Speaking at a news conference at the Opposition Leader’s office in Colombo, MP Eran Wickramaratne said as a result, essential food items and fuel shortages would follow and the country could face power cuts in the future.

“When this government came to power, the foreign reserves, which was more than $ 7 billion, has now been reduced to 1.5 billion dollars as this government is more concerned with giving relief to its cronies than governing the country,” he said.

'Sri Lanka Mirror' has pointed out that this would happen last July.