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Leading News from Sri Lanka ::
Nov 07, Colombo: Sri Lanka's Gross Official Reserves will exceed USD 5 billion with the receipt of the second installment of the IMF loan, the Central Bank said today.
The International Monetary Fund (IMF) on Friday approved the second trench of USD 329 million under its 20-month Stand-by Arrangement of USD 2.5 billion to Sri Lanka.
According to the Central Bank, currently the gross official international reserves (without ACU balances) of the country which stand over USD 4.8 billion will surpass USD 5 billion mark with the receipt of the USD 329 million.
With the renewed investor confidence on the Sri Lanka's economy and the continuation of the steady increase in foreign exchange inflows, the country's external reserves position is expected to strengthen further in the coming months, the Central Bank said.
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