Former UNP Deputy Leader and MP Ravi Karunanayake has questioned the Government’s claims regarding the country’s foreign exchange reserves and the reported surplus in the Treasury.
Karunanayake said that when the Ranil Wickremesinghe administration concluded in September 2024, when the current Government was elected, Sri Lanka’s foreign exchange reserves stood at around US$6.1 billion.
He noted that by August 2026, 23 months later, reserves had increased to approximately US$6.5 billion.
Based on these figures, he said only around US$400 million had been added to the country’s foreign exchange reserves during the 23-month period.
Karunanayake also questioned the Government’s claims that the Treasury currently has a surplus.
He attributed the situation to the continued implementation of tax measures introduced during the previous administration.
The former Deputy Leader pointed out that while taxes are collected in Sri Lankan rupees, the country’s debt repayments have to be made in US dollars.
He questioned why the Government was not settling more of the country’s debt if, as claimed, there is a surplus in the Treasury.
