Top economist Dhananath Fernando mentions that the nations foreign exchange reserves are not used to help with the import of motor vehicles.When importing any goods to the country, foreign reserves are not used and instead cash made through exports are utilied, Fernando noted.Speaking throughout a media instruction, economic expert Dhananath Fernando kept in mind If imports were to be used the reserves, Sri Lankas reserve volume would never ever be sufficient.He said the countrys reserves are roughly around USD 6.6 billion, but Sri Lanka imports goods worth over USD 20 billion each year.
Imports can not take place through the reserves, Dhananath Fernando asserted.He included cars and other products are imported using the funds the country earns through exports, the money from the tourist market services and from foreign remittances.However, if essential, it is possible to carry out imports through the reserves, however there is no requirement to do so, economic expert Dhananath Fernando added.