Sunday, October 1, 2023

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Reserve position surge claimed by CBSL Chief like ‘Cobra appeared out of Kelani River’

The spontaneous surge of the foreign reserve position to US$3.1 billion claimed by the CBSL Governor is merely a media showoff resembling the ‘Cobra appeared out of the Kelani River,’ said Samagi Jana Balawegaya (SJB) MP Dr. Harsha De Silva speaking to a briefing today (29).

The SJB MP emphasised that a responsible institution like the Central Bank of Sri Lanka (CBSL) has deliberately refrained from disclosing the modes by which such a spontaneous surge has occurred.

At a time when the public image of the current regime is being tarnished on a daily basis, the CBSL and its Governor are concealing the truth thereby picturing a false image, Dr. Silva pointed out.

Stressing that the country is suffering from a severe forex crisis, the SJB economist added that there are no dollars to import essential commodities including gas, milk powder and medicines.

Despite many experts’ advice on seeking the support of the International Monetary Fund (IMF) to resolve the ongoing forex crisis, the government did not heed such an option, Dr. Silva claimed.

In the backdrop, the CBSL Chief is behaving a like a ‘Superman,’ demonstrating an increased reserve position without disclosing the modes, he went on, questioning whether all the problems will be solved from tomorrow.

The SJB MP citing sources further noted that the reserve position was supposedly increased via 10 billion yuan obtained from China subjugated to certain restrictions.

Suggesting that the country has been driven into an abyss in this manner due to the politicians’ conduct of concealing the truth about the country for a long time satisfying the people for political purposes, Dr. Silva added that the abyss is being dug deeper by concealing the real forex crisis via the government’s media showoff.


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