Sri Lanka foreign reserves at USD5.6 billion end May

June 14, 2016 (LBO) – Sri Lanka’s official reserves were 5.62 billion dollars at the end of May, down from 6.07 billion dollars end of April, Central Bank data showed.

Foreign currency reserves were 4.6 billion dollars, and reserves in Gold were 0.8 billion dollars.

The IMF’s first disbursement of SDR 119.894 million (168.1 million dollars) is expected to add to reserves in June, and the remainder of a 1.5 billion dollar 36-month facility will be available in 6 installments subject to quarterly reviews.

Official reserves were at 8.2 billion dollars at the end of 2014, sufficient for 4.3 months of imports, and the IMF expects reserves to climb to 7.8 billion dollars, or 3.7 months of imports, by end of 2016.