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Friday, 28 April 2017 - 12:40
Government plans to accumulate 10 billion US dollars foreign reserves before end of this year.
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Finance Minister Ravi Karunanayake says that the next tranche of the IMF loan of US$1.5 billion will be released to Sri Lanka next June.

He also said the country’s foreign reserve will exceed $10 billion US before the end of this year.

Currently Sri Lanka has less than US$6 million.

Meanwhile, the Finance Ministry has named 7 commercial banks to issue sovereign bonds valued at $1.5 billion US to the international market.

The minister further said that in addition, two syndicated loans of another one billion US dollars and $500 million US from Sri Lanka Development Bonds would be used to boost the foreign reserves of the country.

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