Govt. confident of $ 9 b reserves by end-2026

Saturday, 22 August 2026 01:18 - - {{hitsCtrl.values.hits}}

Finance Deputy Minister says Govt. prepares for about $ 3.9 b in foreign debt repayments in April 2028

Finance Deputy Minister Dr. Anil Jayantha Fernando

The Government is confident Sri Lanka’s foreign reserves will reach the targeted $ 9 billion by end-2026, supported by rising worker remittances and measures to increase net foreign exchange inflows, Finance Deputy Minister Dr. Anil Jayantha Fernando told Parliament yesterday.

Responding to a question from MP Ravi Karunanayake, Dr. Fernando said Sri Lankan migrant workers had remitted more than $ 5 billion during the first seven months of 2026, highlighting the contribution of overseas employment to the country’s external finances.

He said the Government was focusing on increasing net foreign exchange inflows through investments, exports and remittances, while taking measures to diversify sources of foreign exchange and attract more foreign direct investment (FDI).

Dr. Fernando said these efforts were also being pursued in preparation for foreign debt repayments due in 2028.

He told Parliament that Sri Lanka faces repayments of about $ 3.9 billion in April 2028 and said financial strategies were being prepared to increase foreign exchange earnings, including through non-traditional sectors.

The Government is also seeking to direct Sri Lankan workers towards segments of the international labour market offering higher earnings, according to the Deputy Minister.

Dr. Fernando said the measures were aimed at strengthening the country’s capacity to meet future debt obligations while diversifying sources of foreign exchange earnings.