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Sri Lanka crisis

Sri Lanka to build foreign reserves after IMF rescue: central banker

Weerasinghe says talks with creditors like China are going well, may drag into 2023

Nandalal Weerasinghe, governor of the Central Bank of Sri Lanka, speaks at a news conference. He said in an interview that until IMF funding starts flowing, "we will not get any external financing from anyone."   © Reuters

COLOMBO -- Dollar-strapped Sri Lanka is pinning its hopes on a still-elusive $2.9 billion International Monetary Fund bailout before it starts rebuilding its usable foreign reserves, the head of the country's central bank told Nikkei Asia in a recent exclusive interview.

"Once the IMF starts disbursing their commitments following the IMF board's approval, it will be the point at which we will start building our foreign reserves," Gov. Nandalal Weerasinghe said.

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