It is reported that Sri Lanka is ready to implement an ambitious plan to increase its foreign reserves by at least 8.4 billion dollars.
Minister of State for Finance Shehan Semasingha also said that Sri Lanka will start building up its foreign reserves with the International Monetary Fund disbursing the first tranche of its extended monetary facility in the next two weeks.
Sri Lanka hopes that the International Monetary Fund (IMF) will approve the $2.9 billion financial facility by the 20th of this month, and the World Bank has already agreed to provide $1.5 billion.
In addition, the government hopes that the Asian Development Bank (ADB) will provide $1 billion in aid and hopes to raise $3 billion through the restructuring of some selected state-owned enterprises.