Sri Lanka’s foreign reserves have reached approximately USD 6.5 billion, surpassing the targets set by the International Monetary Fund (IMF), according to Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka.
Key Highlights:
- Foreign Reserves Achievement:
- Dr. Weerasinghe confirmed that the country has successfully built its foreign reserves, surpassing IMF targets, marking a positive economic development.
- Resumption of Vehicle Imports:
- Addressing concerns, the Governor announced that vehicle imports will resume, following the stabilization of Sri Lanka’s economy.
- He emphasized that vehicle imports will be managed in a way that avoids negatively affecting the country’s foreign reserves.
- Fiscal Policy Measures:
- Dr. Weerasinghe stressed the importance of appropriate fiscal policies to control vehicle imports, ensuring a balanced approach to economic recovery.
This announcement signals confidence in the country’s economic stability and its ability to manage external trade while safeguarding its foreign reserves.
