China lends another $1.5 Bn!

The $ 1.5 billion exchange deal to be taken from the Central Bank of China will take place this week, Treasury Secretary S.R. Attygalle said.

The exchange is aimed at boosting Sri Lanka’s foreign reserves.

The Central Bank of Sri Lanka has stated that Sri Lanka’s foreign exchange reserves will be around US $ 3 billion with this deal.

Sri Lanka’s foreign exchange reserves have fallen to US $ 1.5 billion, of which only US $ 1.1 billion is in exchange, according to Finance Ministry sources.

However, commenting on the foreign exchange problem, Central Bank Governor Ajith Nivard Cabraal recently said that Sri Lanka’s foreign exchange reserves would increase to US $ 3.5 billion by December 31 and that accordingly, the amount of foreign reserves should not be a problem.

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