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Composition of Sri Lanka's Gross Official Reserves
The reported gross official reserves as of February 2022 stood at USD 2,311 MN, out of which 98% (USD 2,242 MN) consisted of short-term swaps maturing within 12 months. Whilst the quantity of reserves is important it is equally necessary to consider the quality of reserves. Short term swaps and foreign investment in government securities are essentially short-term in nature, and portfolio investments in government securities are also volatile. In an ideal scenario, reserves should comprise largely of non debt creating inflows such as FDI and current account surpluses. Sri Lanka however has consistently run current account deficits in its balance of payments. The second best option would be long-term stable borrowings (such as ISBs) that have a significantly longer repayment duration than short term swaps or volatile portfolio investments. Such instruments provide a greater degree of stability and longevity for a country’s reserves.
Featured Insight
Composition of Sri Lanka's Gross Official Reserves
The reported gross official reserves as of February 2022 stood at USD 2,311 MN, out of which 98% (USD 2,242 MN) consisted of short-term swaps maturing within 12 months. Whilst the quantity of reserves is important it is equally necessary to consider the quality of reserves. Short term swaps and foreign investment in government securities are essentially short-term in nature, and portfolio investments in government securities are also volatile. In an ideal scenario, reserves should comprise largely of non debt creating inflows such as FDI and current account surpluses. Sri Lanka however has consistently run current account deficits in its balance of payments. The second best option would be long-term stable borrowings (such as ISBs) that have a significantly longer repayment duration than short term swaps or volatile portfolio investments. Such instruments provide a greater degree of stability and longevity for a country’s reserves.
Featured Insight
Composition of Sri Lanka's Gross Official Reserves
The reported gross official reserves as of February 2022 stood at USD 2,311 MN, out of which 98% (USD 2,242 MN) consisted of short-term swaps maturing within 12 months. Whilst the quantity of reserves is important it is equally necessary to consider the quality of reserves. Short term swaps and foreign investment in government securities are essentially short-term in nature, and portfolio investments in government securities are also volatile. In an ideal scenario, reserves should comprise largely of non debt creating inflows such as FDI and current account surpluses. Sri Lanka however has consistently run current account deficits in its balance of payments. The second best option would be long-term stable borrowings (such as ISBs) that have a significantly longer repayment duration than short term swaps or volatile portfolio investments. Such instruments provide a greater degree of stability and longevity for a country’s reserves.
Featured Insight
Composition of Sri Lanka's Gross Official Reserves
The reported gross official reserves as of February 2022 stood at USD 2,311 MN, out of which 98% (USD 2,242 MN) consisted of short-term swaps maturing within 12 months. Whilst the quantity of reserves is important it is equally necessary to consider the quality of reserves. Short term swaps and foreign investment in government securities are essentially short-term in nature, and portfolio investments in government securities are also volatile. In an ideal scenario, reserves should comprise largely of non debt creating inflows such as FDI and current account surpluses. Sri Lanka however has consistently run current account deficits in its balance of payments. The second best option would be long-term stable borrowings (such as ISBs) that have a significantly longer repayment duration than short term swaps or volatile portfolio investments. Such instruments provide a greater degree of stability and longevity for a country’s reserves.
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Sri Lanka Ports Authority – A Profitable SOE
The SLPA has made an operating profit since 2015. The SLPA revenue has consistently witnessed a growth from 2015 to 2019 , with a marginal decline in 2020.From 2016 onwards the SLPA has managed to make a net prof...
2022-05-02
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Financial Performance of Sri Lanka’s National Water Supply and Drainage Board
The below figure illustrates how Sri Lanka has performed at providing citizens with least basic drinking water services. As shown, Sri Lanka has had a reasonable performance compared to other South Asian nationsThe National W...
2022-02-23
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Sri Lanka Transport Board’s (SLTB) is making a loss in 2020 for the first time since 2016
Annual operating profit of SLTB has declined substantially by 250 % in 2020. SLTB has been operating profitably from 2017 onwards. However, an operating loss of LKR 2,3...
2021-08-09
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