IMF warns Sri Lanka against further cuts in capital expenditure to meet fiscal targets
Pics courtesy: Johncderrick.com
Sri Lanka’s gross official reserves by end October stands at US$ 7.1 billion, adequate to cover import bills of 4.5 months, announced the Central Bank.
As of end September, the gross official figure stood at US$ 7 billion.
“Sri Lanka’s gross official reserves were maintained at a satisfactory level during the first ten months of 2013, in spite of outflows on account of foreign debt service payments”
According to the Bank Sri Lanka has paid US$ 1.25 billion as foreign debt payments during this year, while another IMF-SBA payments of US# 369 million.
In the meantime, total international reserves, which include foreign assets of commercial banks by end October stood at US$ 8.5 billion.
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