COLOMBO, Jan. 7 (Xinhua) -- Sri Lanka's foreign reserves will reach 7 billion U.S. dollars by the end of 2025, the Governor of the Central Bank of Sri Lanka (CBSL) Nandalal Weerasinghe has said.
He said on Monday during a discussion on local TV that the country's foreign reserves remain robust and the current foreign reserves are higher than they aimed for.
Weerasinghe said the foreign reserve target for 2024 was 5.6 billion dollars but the country achieved 6.5 billion dollars before setting debt.
After settling debts, Sri Lankan reserves stood at 6.1 billion dollars and the CBSL expects the reserves to reach 7 billion dollars at the end of 2025, he said, adding that Sri Lanka can pay 3 to 4 billion dollars annually as debt servicing, following debt restructuring.
If the South Asian nation can maintain 8 billion dollars in reserves, it will have a strong buffer to meet foreign debt obligations, he said. ■
