Sri Lanka’s foreign reserves would reach USD 7 billion by the end of 2025, Governor of the Central Bank of Sri Lanka, Dr. Nandalal Weerasinghe said on Monday night (06) during a discussion on Derana TV. He said that the country’s foreign reserves remained robust.

Dr. Weerasinghe said their foreign reserve target for 2024 had been USD 5.6 billion but the country had raised USD 6.5 billion before settling debts.

After settling debts, the reserves stood at USD 6.1 billion and the CBSL expected the reserves to reach USD 7 billion at the end of 2025, he said, noting that Sri Lanka could pay 3 to 4 billion dollars annually, as debt servicing, following debt restructuring.

If Sri Lanka could maintain USD 8 billion in reserves, it would have a strong buffer to meet foreign debt obligations, Dr. Weerasinghe said.

The current reserve levels were stable to handle these challenges,” Dr. Weerasinghe added. (RK)