Sri Lanka’s Gross Official Reserves (GOR) have increased to USD 5.7 billion by the end of June 2024, up from USD 4.4 billion at the close of 2023.
This rise includes a swap facility from the People’s Bank of China (PBOC), which comes with specific conditionalities on usability.
The GOR increase was largely driven by net purchases of USD 1.8 billion by the Central Bank from the domestic foreign exchange market during the first half of 2024, along with the receipt of approximately USD 336 million from the International Monetary Fund (IMF) following the completion of the second review under the Extended Fund Facility (EFF) Arrangement.
As of the end of June 2024, the GOR now covers 3.9 months of imports.
