The mode in which the foreign reserves amounting to US$ 1.6 billion have surged up to US$ 3.1 billion must be disclosed before the country, urged the Samagi Jana Balawegaya (SJB), following the announcement made by the Central Bank of Sri Lanka (CBSL) this morning.
Speaking to a briefing held in the Opposition Leader’s Office today (29), SJB MP Nalin Bandara pointed out that the people have a right to know about the mode in which these foreign reserves have spontaneously surged.
Foreign reserves were rising in US dollars as well as in other currencies, as well as gold reserves, the MP reminded, stressing that how an additional amount of US$ 1.5 billion was included to the reserves must be explained.
The SJB MP went on saying that if the reserves were surged in gold or yuan, they could not be used to settle dollar expenses or settle foreign debts and that the yuan currency could only be used for goods imported from China.
The ongoing dollar deficit can be resolved temporarily only in an event of a reserve position surge in US dollars, Bandara added.