State Minister Shehan Semasinghe told Parliament today that by the end of October Sri Lanka’s foreign reserves were at US$ 1,587.7 million.
Several MPs including former PM Ranil Wickramasinghe had inquired from the Government to reveal the official figures of the foreign reserves as of the end of November.
The Central Bank of Sri Lanka had reported that the official foreign reserves of Sri Lanka were at US$ 2,269.2 million in October 2021 and now according to Minister Shehan Semasinghe it has seen a decline of up to US$ 1,587 million in November 2021.
According to the Central Bank’s report, Sri Lanka’s foreign reserves have seen a drop of US$ 682.2 million in November.
The State Minister further noted Sri Lanka’s foreign currency reserves were at USD 1.0095 billion, International Monetary Fund reserves were at USD 67 million, special purchases account funds were at USD 127.2 million, and gold reserves at USD 382.2 million, while other reserves were at USD 1.1 million.
Several individuals, including the Opposition and former Prime Minister Ranil Wickremesinghe, have repeatedly raised concerns over the declining foreign reserves of Sri Lanka.
Many have pointed out that the declining foreign reserves can result in Sri Lanka being unable to import essential goods and crude. (NewsWire)