China approves US$1.5bn dollar swap with Sri Lanka
Posted on March 11th, 2021

Courtesy NewsIn.Asia

China approves US$1.5bn dollar swap with Sri Lanka

Colombo, March 11 (Economy Next): The People’s Bank of China has confirmed that a 1.5 billion dollar equivalent swap arrangement had been approved, State Minister for Capital Markets and Money, Nivard Cabraal said.

He said Sri Lanka could draw down the swap at any time but it will be kept as a buffer.

One Response to “China approves US$1.5bn dollar swap with Sri Lanka”

  1. Nimal Says:

    Why are we in a such a hurry to borrow such a large sum?

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