Sri Lanka expects USD 2bn SWAP facilities from Middle Eastern & other regional central banks

The Central Bank says that the measures being taken at present will ensure that by end of 2021 official reserves will remain above US dollars 3 billion.

Releasing a statement, the bank said that major foreign exchange inflows to the Central Bank include SWAP facilities with Middle Eastern and other regional central banks amounting to about US dollars 2.0 billion.

“The Government is also in the process of securing Government to Government financing, syndicated loans as well as loans from multilateral organisations,” the statement said.

“In addition, the expected foreign exchange facilities that were negotiated during the high-level visits abroad made by authorities are also progressing well.”

The Government and the Central Bank remain confident that these expected inflows will materialise and the reserve position will remain at a comfortable level throughout the year 2022.

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