According to the Central Bank of Sri Lanka (CBSL), Sri Lanka’s official reserve assets saw a notable increase of 9.6% in April 2024, reaching USD 5.43 billion compared to USD 4.96 billion in March 2024. However, this total includes proceeds from a swap with the People’s Bank of China (PBoC) amounting to around USD 1.4 billion. It’s worth noting that these funds are subject to certain conditionalities regarding their usability. This uptick in reserve assets reflects a positive trend in Sri Lanka’s financial landscape, potentially bolstering the country’s economic stability and resilience in the face of external challenges.
