10 December 2021 06:51 am Views - 122
By Yohan Perera and Ajith Siriwardana
Whilst stating that Sri Lanka’s foreign reserves have dropped to approximately US $ 1.5 billion ($ 1587 million), State Minister of Finance Shehan Semasinghe yesterday said there are certain groups engaged in drug trafficking and arms rackets that are out to destabilise the country both politically and financially.
Responding to a question raised by MP Anura Kumara Dissanayake in the House on an earlier date, the State Minister said these groups who are determined to de-stabilise the nation exist both in and out of Parliament.
“Sri Lanka’s foreign reserves stood at $ 8.6 billion by end 2014 while it had dropped down to $ 7.6 billion by the end of 2019. This has resulted in the increase of foreign debt services. Sri Lanka’s foreign debts were 42.4 per cent of total debt services in 2014 while it had arisen to 46.4 per cent by end 2019. However the aim of our government is to limit total foreign debt service to 40 per cent of total debt services,” the State Minister said.
He said the government had to use the foreign reserves for the containment of COVID-19 pandemic. Accordingly, he revealed that Sri Lanka had spent a sum of Rs 221 billion for pandemic related expenses this year. We have managed to provide both jabs to 76.2 per cent of the population. This is higher than the global standards as only 55.3 per cent of the global population are fully vaccinated at the moment.