Sri Lanka asks for international debt relief on Coronavirus hit
ECONOMYNEXT – Sri Lanka has asked international lending agencies to give debt relief for vulnerable nations as a Coronavirus pandemic is wreaking havoc around the world.
“President Gotabaya Rajapaksa requests international donor agencies to provide a debt moratorium or debt deferment facility to all vulnerable developing nations to the COVID – 19 risk,” his office said in a statement.
“President had urged Director General of the World Health Organization to forward this request to multi-lateral and bilateral lending agencies.”
Sri Lanka has over 4.0 billion US dollars to repay in 2020, but the economy has been hit by a Coronavirus epidemic which has cripple exports.
Sri Lanka has made large liquidity injections into money market over the recent weeks and the rupee is under pressure. (Colombo/Mar25/2020)