Deputy Minister Chathuranga Abeysinghe on Friday rejected opposition warnings that Sri Lanka is heading toward another economic collapse, saying foreign reserves stood at $6.3 billion and a further $1 billion was expected within the next 30 days.

“Those who are looking forward to another economic collapse, it ain’t gonna happen,” Abeysinghe said in a statement, contrasting the Government’s record with what he called speculation by opposition groups. “They thought Trump tariffs can bring us down, Ditwah to bring us down, now energy crisis to bring us down. We as a country managed all three.”

Citing macro indicators for 2025, Abeysinghe pointed to economic growth of 5 percent, inflation at 2.2 percent, interest rates holding between 7 and 8 percent, and rupee depreciation contained to 3.9 percent for the year. He said all three of the country’s main foreign exchange-earning sectors had grown in 2025, with two recording growth above 20 percent.

The Deputy Minister also noted that $2.1 billion in vehicle imports had been permitted after years of restrictions and that $5.1 billion in external debt had been repaid during the current Government’s tenure. Barriers on export proceeds and external investment reinvestment had been eased to support economic activity, he added.

“The economy will adjust based on fundamentals and adjust itself without much intervention,” Abeysinghe said, characterising recent pressures on the rupee as a manageable adjustment in an import-dependent economy. He also said some opposition members could face corruption-related charges in coming months, including matters linked to the Easter Sunday attacks.

His remarks add a fourth Government-side voice to the rupee-crisis cycle alongside President Anura Kumara Dissanayake’s Nindavur “2022 will not happen again” rebuttal, CBSL’s engagement with forex dealers and the recovery of the rupee to Rs. 329 in the spot market. The $1 billion 30-day inflow expectation implicitly references both the IMF Executive Board’s anticipated May 27 disbursement and pending multilateral inflows.

The opposition has staked out a contrary position, demanding an urgent parliamentary debate on the rupee crisis and warning of a frozen forex market.

Source: Newswire — “It ain’t gonna happen”: Deputy Minister rejects opposition’s collapse fears.