By Yohan Perera

Sri Lanka’s foreign reserves have declined to $3 billion from $ 4 billion with the recent settling of a loan installment of $ one billion, UNP Deputy Leader Ruwan Wijewardene said yesterday.   

Mr. Wijewardene who met party activists of Biyagama yesterday said this billion dollar settlement was a loan which the government had raised by keeping treasury bills as a guarantee. “The foreign reserves stood at $ 7 billion when we handed over the government in 2019,” he said.   

“Government claims that reserves can be increased. The State Minister of Finance has recently informed the media. Sri Lanka will get a total of $ 2.65 billion. India will provide $ 400 million, Bangladesh $ 200 million; the government will also borrow $ 300 million from Chinese development Bank. The Central Bank is planning to borrow $ 200 million from international financial markets. It has been planned to borrow further $ 300 million by keeping sovereign bonds of local banks. In addition IMF is expected to give a grant of $ 800 million for COVID prevention. Also the government plans to earn $ 400 million by selling its assets. The very people who accused us of selling off state assets are doing the same thing,” he alleged.   

• The very people who accused us of selling off state assets are doing the same thing now