Former United National Party Deputy Leader and Parliamentarian Ravi Karunanayake has questioned the Government’s plan to increase Sri Lanka’s foreign exchange reserves to US$9 billion by the end of this year.
Speaking on the issue, Karunanayake said the country’s reserves are currently around US$6.5 billion, meaning an additional US$2.5 billion would need to be accumulated within the remaining five months.
He questioned how the Government intends to achieve this target and whether there is a clear plan to increase foreign reserves by around US$500 million each month.
Karunanayake stressed that, given the current economic situation, the Government should immediately introduce measures to protect and strengthen the country’s foreign exchange position.
He warned that failure to take appropriate action could leave Sri Lanka vulnerable to further economic pressures and crises in the future.
