Sri Lanka’s gross official reserves stood at USD 1.9 billion at the end of June, according to Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka.
In a statement to the media, he stated that the amount includes a USD 1.5 billion swap facility from the People’s Bank of China.
The Central Bank Governor also warned that headline inflation in Sri Lanka could reach 70% in the coming months.
He added that headline inflation in Sri Lanka will rise from its current level of 50%.
The guidelines and framework for loan moratoriums and restructuring, including grace periods for capital and interest, will be issued.
He stated that the broad guidelines and framework for banking and non-banking institutions will be issued over the next six months.
The Central Bank Governor also stated that litigation against defaulters should be put on hold for at least the next six months.