The Hon. Ravi Karunanayake
Hon. Ravi Karunanayake questioned how the Government intends to bridge the gap between projected reserves of about US$6.7 billion, including expected IMF and ADB inflows, and the US$7.2 billion target. He warned that uncertainty could affect macro-linked bondholder decisions and pressure the rupee, noting the fiscal impact of exchange rate depreciation and interest rate changes. He urged action to prevent bureaucratic delays from constraining the economy.
Verbatim record (translated)
Machine-translated from Sinhala / Tamil / English¶ 01 Hon. Minister, with Net Reserves at US$6.186 billion, the IMF fifth tranche of US$330 million and an ADB funding of US$190 million would bring us to roughly US$6.7 billion. What about the balance to reach US$7.2 billion? Otherwise, macro‑linked bondholders will decide to move out or in, impacting the rupee. Every 1 percent depreciation of the rupee impacts Government expenditure by Rs. 46 billion; every 1 percent interest rate change impacts the economy by Rs. 160 billion. Together, let us ensure the economy is not stymied by bureaucracy.
Provenance
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- Hansard, Wednesday, 24 September 2025 ·No. 1759815459006615 ·English daily/uncorrected Hansard
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Cite as: The Hon. Ravi Karunanayake. 10th Parliament, Parliament of Sri Lanka. Hansard, 24 September 2025. No. 1759815459006615. Politick, https://staging.politick.io/lk/speeches/20814