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Sri Lanka: Chinese come calling

by Col R Hariharan Chinese defence minister’s visit  The recently held Quad summit, which transformed an informal framework of the US, India, Japan, and Australia, into a formal grouping with…

China approves $1.5 billion currency swap with Sri Lanka

(Reuters) – China has approved a 10 billion yuan ($1.54 billion) currency swap with Sri Lanka, a government spokesman in Colombo said on Wednesday. The deal will allow the island…

Sri Lanka seeks $2.2 bn from China as reserves shrink

Sri Lanka is seeking $2.2 billion from Chinese banks, the government said Thursday, in echoes of a borrowing binge more than a decade ago that resulted in the country having…

Pakistan Offers $50 Million New Credit Line to Sri Lanka to Boost Defence Ties

Cash-strapped Pakistan has offered a $50 million new credit line to Sri Lanka to boost cooperation in the defence and security sectors. Pakistan Prime Minister Imran Khan announced the new…

Rupee to depreciate by 12% in 2021- First Capital

Sri Lanka’s First Capital Research expects LKR to depreciate approximately by 12 percent during this year. “With the weak foreign currency reserve position, high foreign currency debt repayment and a…

Sri Lanka Will Manage its looming debt crunch without IMF Support – Cabraal

The State Minister of Money Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal reiterated that the Government is able to manage the debt servicing with the available without resorting…