Economics

Sri Lanka Central Bank’s Foreign Reserves Remain Negative at US$728 Million (July 2024)

  • September 18, 2024

As of July 2024, Sri Lanka’s central bank continues to face a challenging financial situation, with net foreign reserves remaining in the negative at US$728 million. This represents a significant improvement from mid-2022, when net foreign assets were deeply negative at US$4.6 billion. The drastic decline in reserves in 2022 was driven by borrowing through

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Tourism

Sri Lanka’s Foreign Exchange Earnings Reach $4.5 Billion by June 2024

  • July 22, 2024

Sri Lanka’s foreign exchange earnings from workers’ remittances and tourism have exceeded USD 4.5 billion by mid-2024. Workers’ remittances reached USD 2,822.6 million from January to June 2024, marking an 11.4% year-on-year increase. June alone saw remittances of USD 964.2 million. Tourism revenue hit USD 1,556.6 million, reflecting a 77.9% increase compared to the same

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