The Central Bank (CB) says it’s in negotiations with its domestic and foreign counterparts to boost the level of foreign exchange reserves are reaching an advanced stage.
In a press release, the CB stressed that its official reserves remain unchanged at November levels of $5.6 billion.
“The receipt of these expected inflows as well as the ongoing improvements in the domestic production economy leading to the expansion of foreign exchange earnings will facilitate the maintenance of exchange rate stability, while meeting Sri Lanka’s debt obligations on time, in the period ahead as well,” it noted.
According to the CB, Sri Lanka has nearly $6 billion worth of extreal debt servicing commitments over the next one year period.