Can’t release foreign reserves, Central Bank of Sri Lanka tells Basil
The Central Bank of Sri Lanka has reportedly informed Finance minister – Basil Rajapaksa that more foreign reserves cannot be released as per regulations of the Finance Act.
The minister, in return, had informed of this at the last Cabinet meeting, the ‘Aruna’ newspaper reports.
Noting that 90% of Treasury Bills have already been issued, the minister had said that if more foreign reserves need to be released, more money will have to be printed.