Tuesday July 27, 2021 7:21 am
Tuesday July 27, 2021 7:21 am
ECONOMYNEXT – Sri Lanka’s forex reserve fall after a July sovereign bond payment will be temporary and will be boosted later with other inflows, including investments into under-utilized government properties State Minister for Money and Capital Markets Nivard Cabraal said.
“Any reserve fall will be temporary. It will be buttressed in a planned manner with non-debt investments, which will not flow out,” Minister Cabraal said.
“We have built reserves to use when there are shortfalls. Otherwise there is no need for reserves.”
Sri Lanka had about 4.0 billion dollars of gross official reserves of which a billion US dollars flowed out for bond payment on July 26.