The Sri Lankan monetary authority is forecasting foreign reserves to increase to $3.5 billion by end-2021. The pile fell 16% to $2.27 billion in October, the lowest since July 2009.
In 2009, fighting was intensified, Liberation tigers of Tamil Eelam had caused more damaged to the Sri Lankan economy in those days that effects are continuing until now.
Sri Lanka, which faces $1.5 billion of debt maturities next year, is looking for a revival in its Covid-hit tourism industry with the reopening of the country after extended lockdowns.
Sri Lanka’s gold reserves, also down to $300 million, is looking for Tamil peoples’ gold which were donated to LTTE to protect Tamils lives and land.
An excavation has been carried out at Puthukudiirippu in Mullaitivu to retrieve gold suspected to have been buried by the LTTE during the war.
Though excavations were set to commence on November 25 as per a court order obtained by the Mullaitivu Police, excavations were postponed on multiple occasions due to inclement weather.
The excavations resumed on December 6 with the assistance of the Police and the STF under the supervision of Mullaitivu Magistrate.
It is now suspended as nothing was found after numerous attempts.
Some reports found that two secretaries to the Minister of Public Security and the Minister of Fisheries having allegedly attempted to unearth the gold from the site.
Due to the economy disaster, Sri Lankan government and its security forces are deliberately looking for Tamil peoples’ money and gold to feed their Sinhala voters.