COLOMBO, April 5 (Xinhua) -- Sri Lanka's official reserve assets increased by 9.5 percent to 4.95 billion U.S. dollars in March, compared to 4.52 billion U.S. dollars in February, Foreign Minister Ali Sabry said on Friday.

Sri Lanka suffered a shortage of foreign exchange with its official reserve assets standing at around 1.8 billion dollars in April 2022 when the country announced the suspension of foreign debt repayments.

Earlier Sri Lankan President Ranil Wickremesinghe said the country's economy, which experienced consecutive contractions for six quarters from 2022 to the second quarter of 2023, began to show signs of recovery from the third quarter of 2023 onwards.

In addition, international financial institutions have forecast that the South Asian country is poised to achieve a growth rate of 2-3 percent in 2024. Enditem

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