Sri Lanka’s official foreign reserves have reached approximately USD 3.1 billion as of today, the Governor of the Central Bank of Sri Lanka (CBSL) Ajith Nivard Cabraal announced today.
In a Twitter message, he said that the official reserve position of the Central Bank will remain around that level by the end of 2021 as well.
“In keeping with our previous announcements, the official reserve position of the CBSL has today reached approximately USD 3.1 billion and will remain around that level by end 2021 as well,” he tweeted.
Meanwhile, the Treasury announced on Monday (27) that Sri Lanka is set to receive 1.5 Billion USD from the Central Bank of China.
Treasury Secretary S. R. Attygalle said the financial assistance will be obtained through a swap transaction.
Attygalle further said Sri Lanka will receive 1.5 Billion USD by this week.
Furthermore, the Bangladesh Bank yesterday announced it will extend the validity of the USD 200 million credit facility extended to Sri Lanka.
The Bank said it will extend the credit facility by another three months after the expiry of its first three-month tenure.
The swap transaction with China and the credit facility extension by Bangladesh come at a time when Sri Lanka is grappling with an economic crisis. (NewsWire)
As expected, the @CBSL has added Chinese Central Bank’s 10 bln yuan ($1.5 bln) to its reserves from a swap deal signed early this year. This was meant to used only for Chinese imports and this is not something @an_cabraal has done after he took over. Here is his promised inflows https://t.co/chOXX8ajJD pic.twitter.com/70Xype9LYZ
— Shihar Aneez (@shiharaneez) December 29, 2021