The Government of Sri Lanka (GOSL) introduced the Special Deposit Accounts (SDAs) on 08 April 2020 to seek assistance for the national effort to overcome the effects of COVID-19 outbreak in the country. Accordingly, as at 07 October 2020, total deposits in SDAs amounted to approximately USD 272 million.
Considering the potential of SDAs to attract a substantial amount of foreign exchange into the country and the resultant positive impact on the foreign currency reserve position of the country and the overall economy, GOSL has decided to extend the validity period of opening SDAs up to 07 April 2021 on recommendation of the Monetary Board of the Central Bank of Sri Lanka.