Sri Lanka aims for $15.1b in FX reserves by ’28

Sri Lankan President Anura Kumara Dissanayake announced on Wednesday that the government’s goal was to increase the country’s foreign exchange reserves to $15.1 billion by 2028.

The president assured parliament that Sri Lanka will not experience another economic crisis like in 2022 under his leadership.

Dissanayake announced that the government successfully negotiated with the IMF to raise the Pay As You Earn Tax exemption limit from 100,000 rupees (about $345) to 150,000 rupees ($517).

Attribution: Xinhua

Subediting: M. S. Salama