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sashimaal
sashimaal
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Posts : 5785
Join date : 2014-02-28

Sri Lanka foreign reserves up after Brexit, USD6.1bn now: Ravi K Empty Sri Lanka foreign reserves up after Brexit, USD6.1bn now: Ravi K

Thu Jul 07, 2016 10:23 pm
Message reputation : 100% (2 votes)
July 07, 2016 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake told Parliament Thursday that the country has seen an upward movement in foreign reserves after Brexit.

Finance Minister pointed out that the country now has reserves sufficient for 4 months of imports.

“We can see that there is an advantage in Brexit to Sri Lanka,” Karunanayake said without giving details.

“Foreign reserves have gone up by about 250 million US dollars during these two weeks. Now the reserve position is at 6.1 billion US dollars.”

Sri Lanka’s official reserves were 5.62 billion dollars at the end of May, down from 6.07 billion dollars end of April, Central Bank data showed.

Official reserves were at 8.2 billion dollars at the end of 2014 and the IMF expects reserves to climb to 7.8 billion dollars by end of 2016.


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yellow knife
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Sri Lanka foreign reserves up after Brexit, USD6.1bn now: Ravi K Empty Re: Sri Lanka foreign reserves up after Brexit, USD6.1bn now: Ravi K

Fri Jul 08, 2016 7:13 am
Keep a track on foreign reserves...This time he seems to be more pragmatic than saying an unidentified person parking reserves here...


Sri Lanka foreign reserves up after Brexit, USD6.1bn now: Ravi K Sri-lanka-foreign-exchange-reserves
http://www.tradingeconomics.com/sri-lanka/foreign-exchange-reserves

It seems YP government has frightened foreigners immediately after winning election and happy to see they return


5 year foreign reserve chart shows the drop in 2015 more clearly...

Sri Lanka foreign reserves up after Brexit, USD6.1bn now: Ravi K Sri-lanka-foreign-exchange-reserves
http://www.tradingeconomics.com/sri-lanka/foreign-exchange-reserves
sashimaal
sashimaal
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Sri Lanka foreign reserves up after Brexit, USD6.1bn now: Ravi K Empty Re: Sri Lanka foreign reserves up after Brexit, USD6.1bn now: Ravi K

Fri Jul 08, 2016 7:33 am
Message reputation : 100% (1 vote)
YK - foreigners won't come when there is a BOP crisis due to the impact it creates on exchange rates. Both Governments were responsible to this , but this Government made things much worse by funding their excessive spending on printed money.
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mymoney
Posts : 544
Join date : 2014-08-06

Sri Lanka foreign reserves up after Brexit, USD6.1bn now: Ravi K Empty Re: Sri Lanka foreign reserves up after Brexit, USD6.1bn now: Ravi K

Fri Jul 08, 2016 9:50 am
sashimaal wrote:YK - foreigners won't come when there is a BOP crisis due to the impact it creates on exchange rates. Both Governments were responsible to this , but this Government made things much worse by funding their excessive spending on printed money.

Appreciate moderate view...
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mymoney
Posts : 544
Join date : 2014-08-06

Sri Lanka foreign reserves up after Brexit, USD6.1bn now: Ravi K Empty Re: Sri Lanka foreign reserves up after Brexit, USD6.1bn now: Ravi K

Fri Jul 08, 2016 9:51 am
yellow knife wrote:Keep a track on foreign reserves...This time he seems to be more pragmatic than saying an unidentified person parking reserves here...


Sri Lanka foreign reserves up after Brexit, USD6.1bn now: Ravi K Sri-lanka-foreign-exchange-reserves
http://www.tradingeconomics.com/sri-lanka/foreign-exchange-reserves

It seems YP government has frightened foreigners immediately after winning election and happy to see they return


5 year foreign reserve chart shows the drop in 2015 more clearly...

Sri Lanka foreign reserves up after Brexit, USD6.1bn now: Ravi K Sri-lanka-foreign-exchange-reserves
http://www.tradingeconomics.com/sri-lanka/foreign-exchange-reserves

Thanks YK...
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