Sri Lanka is set to get a fresh influx of over $ 1.2 billion to boost its official foreign reserves which have fallen to an alarmingly low level of $ 2.8 billion in the recent past. Attygalle yesterday (31) announced that Sri Lanka was set to get an accumulated influx of $ 1.2 billion from the International Monetary Fund (IMF), Bangladesh, and China Development Bank (CDB). Bangladesh Bank grants the loan under a currency swap agreement it entered with the Central Bank of Sri Lanka (CBSL). The Opposition stated that Sri Lanka has fallen to such a low level to obtain loans from a country (Bangladesh) that used to export rice sacks to Sri Lanka. 12 of 2017 to include the provision for the increased rate of interest on SDAs.

Source: The Nation August 31, 2021 18:33 UTC