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Message: <blockquote data-quote="monson" data-source="post: 28681069" data-attributes="member: 30005"><h3></h3>Sri Lanka is set to implement an ambitious plan to increase its foreign reserves by a minimum of $8.4 billion, The Sunday Times reported.This plan will be facilitated by the approval of an International Monetary Fund (IMF) facility on March 20, which will provide a loan of $2.9 billion. The World Bank has already committed to providing $1.5 billion, while the Asian Development Bank (ADB) will provide $1 billion in aid. In addition, $3 billion will be raised through the restructuring of selected state-owned enterprises (SOEs).State Finance Minister Shehan Semasingha stated that the build-up of foreign reserves will commence immediately after the IMF begins disbursing the tranches of the Extended Fund Facility, which is expected to occur within the next two weeks. (NewsWire)- <a href="https://www.newswire.lk/2023/03/12/8-4-billion-sri-lanka-ambitious-plan-to-raise-foreign-reserves/" target="_blank">https://www.newswire.lk/2023/03/12/8-4-billion-sri-lanka-ambitious-plan-to-raise-foreign-reserves/</a></blockquote>

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