Sri Lanka’s foreign reserves expected to surpass USD 4bn by year-end
December 20, 2023 07:25 pm
The Ministry of Finance has stated that with a notable inflow of foreign exchange worth Rs. 780 million in December 2023, the gross official reserves are expected to surpass USD 4 billion by the end of the year.
In December 2023, Sri Lanka received a second tranche of USD 337 million from the International Monetary Fund (IMF), USD 200 million from the Asian Development Bank (ADB), for various programs, and USD 250 million from the World Bank.
Accordingly, these disbursements, totalling USD 787 million, aim to strengthen budget support and enhance the country’s external buffers, the President’s Media Division (PMD) reported.
The Finance Ministry stated that the USD 780 million notable inflows of foreign exchange to the Government will reinforce the country’s external buffers. The gross official reserves are expected to surpass USD 4 billion by the end of 2023, higher than anticipated, it said.
