In a bold statement that will surely put everyone’s minds at ease, the Central Bank of Sri Lanka has declared that the country has enough foreign reserves to last a whopping four months of imports. With official reserves at $5.7 billion at the end of July, now dipping to $4.4 billion in September, officials are confident this will keep the economy thriving (or at least treading water).
Included in this impressive figure is $1.4 billion from the People’s Bank of China’s currency swap facility—because who wouldn’t want to depend on a lifeline from China to stay afloat?
