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Foreign Reserves reach an all time high

Apr 9, 2011 5:20:26 AM - itnnews.lk

The country’s foreign reserves have reached an all time high. It exceeded 7,000 Million US Dollars to reach 7,200 Million US Dollars.

According to the Central Bank this sharp increase had been recorded following the receipt of the Sixth installment from the International Monitory Fund. The total due is eight installments. The Central Banks said the grant of 218 Million given as the Sixth tranche is a clear indication that Sri Lanka had met the required goals to continue with IMF future projects. Many countries had failed to meet the required targets to continue with IMF. The Bank emphasized that this clearly gives a message to investors in the world that country’s economy was on the positive path. The Government expects more foreign investments in the near future.