President Anura Kumara Dissanayake announced plans to strengthen Sri Lanka’s foreign reserves, stating that the government expects to secure around USD 700 million before the end of May under the 5th and 6th tranches of the IMF programme, subject to a staff-level agreement.
Speaking in Parliament today (07) while presenting the Cabinet-approved economic relief package, the President said that extensive discussions with the Asian Development Bank had resulted in an agreement to provide approximately USD 1.2 billion in funding within this year. He also noted that additional financial support is expected through projects prepared with the World Bank.
The President emphasized that assistance from the Asian Development Bank and the World Bank would help ease pressure on the country’s foreign reserves. He further revealed that, for the first time, the Central Bank had purchased USD 700 million from the market during January and February, helping reserves reach close to USD 7 billion.
