The Hon. (Dr.) Anil Jayantha
Dr. Anil Jayantha clarified that the IMF-linked requirement concerns Net International Reserves rather than Gross Reserves, and said the Central Bank’s US$1.2 billion foreign exchange purchase was part of managing that position. He noted strong export earnings, remittances, and tourism income, and argued that the Central Bank should be allowed to act independently in maintaining required reserve levels and meeting future targets.
Verbatim record (translated)
Machine-translated from Sinhala / Tamil / English¶ 01 Sir, these are not mere numbers from the Central Bank; they are linked to Gross and Net Reserves as explained. Maintaining Gross Reserves is not compulsory under the Programme; NIR is. The US$1.2 billion purchase was to manage the position, as the Central Bank observes other variables.
¶ 02 Export income exceeded US$11 billion as of August. Remittances and tourism earnings are also robust. We must allow and respect the Central Bank’s autonomy. Its actions in maintaining required levels and acquiring forex last year were appropriate. We have time to achieve targets and they will use their tools appropriately.
Provenance
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- Hansard, Wednesday, 24 September 2025 ·No. 1759815459006615 ·English daily/uncorrected Hansard
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Cite as: The Hon. (Dr.) Anil Jayantha. 10th Parliament, Parliament of Sri Lanka. Hansard, 24 September 2025. No. 1759815459006615. Politick, https://staging.politick.io/lk/speeches/20813