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CBSL gold reserves halve

10 Jan 2022

The gold reserves, which form part of the official reserve assets of the Central Bank of Sri Lanka (CBSL), have decreased by $ 206.8 million in December 2021. As of end-November 2021, the gold reserves stood at $ 382.2 million. However by end-December 2021, the gold reserves had fallen to $ 175.4 million. Samagi Jana Balawegaya (SJB) MP Harsha de Silva last Saturday (8) claimed that the remaining gold reserves will also be sold before January ends. “These are all temporary solutions. Although you sell your earnings, you will not get an income in the following month by doing so,” the MP told the media last Saturday. He also added that the Government needs to find a mode of income. “Instead of doing that, the Government plans to sell off everything,” Dr. de Silva added.  Meanwhile, the official reserves assets, as per CBSL data, had increased to $ 3.1 billion in December 2021 from $ 1.6 billion in the previous month. This includes the growth in liquid foreign exchange reserves to $ 2.8 billion in December 2021 from $ 1.0 billion in November 2021.  


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