The latest Central Bank statement reveals that Sri Lanka’s official foreign exchange reserves stand at US$ 2.8 billion, adequate for 1.8 months’ worth of imports.
State Minister of Finance Ajith Nivard Cabraal said in response to a warning by economic analysts after paying off a US$ billion loan on July 27 that measures were being taken to raise the official reserves to US$ 7.5 billion. Three weeks after the Minister’s announcement, the Central Bank has officially stated that the official reserves are US$ 2.8 billion.
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