Sri Lanka’s foreign reserve, enough for one month’s import

Sri Lanka’s foreign reserve assets were 1.6 billion US dollars by the end of November, down from 2.3 billion US dollars in October, the Sri Lankan Central Bank said.

By the end of November, the foreign currency reserves were 1,009.5 million dollars while the reserve position in the IMF was 67.0 million dollars.

Special Drawing Rights were 127.2 million, reserves in Gold were 382.2 million and other reserve assets were 1.1 million US dollars.

Of the IMF’s allocation of SDR 554.8 million received by Sri Lanka on 23 August 2021, a large portion was converted into US dollars.

Official reserves do not include the swap facility signed with the People’s Bank of China of US$ 1.5 bn.

Meantime, the Milk Powder Importers’ Association says that the import of milk powder has become problematic again due to the shortage of dollars in the country.

The union says that the money related to the importation of milk powder has not been paid to those foreign companies since last January.

The Milk Powder Importers’ Association stated that they have requested the Ministry of Finance to provide the required US dollars for this purpose.


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