Former UNP Deputy Leader and MP Ravi Karunanayake says the public should be informed about the agreements reached with the International Monetary Fund (IMF) following Sri Lanka’s economic crisis, as well as the country’s existing debt burden.
Speaking to the media, Karunanayake said that when the relevant loan agreement was finalised, Sri Lanka was expected to have foreign reserves of US$9.2 billion by 2026.
He said the target was later revised to US$8.8 billion, which represents the level of foreign reserves Sri Lanka is expected to reach by the end of December 2026.
Karunanayake noted that Sri Lanka’s foreign reserves stood at US$6.59 billion as of August, meaning the country would need to accumulate an additional US$2 billion during the remaining months of the year to reach the target.
He said this would require the country to raise approximately US$400 million per month.
Karunanayake made these remarks during an interview with the Ceylon Wire website.
