
Sri Lanka Economy
February 3, 2025 at 08:10 AM
*Sri Lanka running out of Foreign Exchange Reserves which Ranil Wickremesinghe as President built from $ 25mn dollars to Billions of dollars Except for *Useless Chinese Gamed Swap given to Gota only restricted to be used to Chinese Imports when our other reserves reach over Equivalent of 8 months Imports Cost which we have not yet achieved and eventhough China increased tenure of it with Anura Kumara for 3 years until 2028 Sri Lanka unable to achieve minimum 8 months of Foreign Exchange reserves cost for Imports.*
*The pre determined FX outflows slightly increase in 2025* Sri Lanka managed to extend China’s currency swap for another three years. The interest payments via coupons for the restructured ISBs are expected to start in 2025, which has increased interest and capital payments for the next 12 months of 2025.
Reference Chart - www.charts.lk