The Ministry of Finance has announced a substantial inflow of foreign exchange totaling Rs. 780 million in December 2023. This surge is poised to propel Sri Lanka's gross official reserves beyond USD 4 billion by the year-end.
The impressive boost is attributed to multiple funding sources received in December. Sri Lanka secured a second tranche of USD 337 million from the International Monetary Fund (IMF), USD 200 million from the Asian Development Bank (ADB) for diverse programs, and an additional USD 250 million from the World Bank.
These disbursements, totaling USD 787 million, have a strategic focus on reinforcing budget support and augmenting the country's external buffers, as reported by the President's Media Division (PMD).
The Finance Ministry highlighted that the notable inflow of USD 780 million in foreign exchange to the Government will significantly bolster the nation's external buffers. The gross official reserves are now anticipated to exceed USD 4 billion by the close of 2023, surpassing initial expectations, according to official statements.
