Sri Lanka negotiating more forex swaps: Finance Minister

COLOMBO (EconomyNext) – Sri Lanka is negotiating forex swaps with two more countries and the country is well prepared to meet any exiting bond investors from rupee bond markets, Finance Minister Ravi Karunanayake said.

India has given a swap of 1,500 million US dollars and negotiations are underway with two more countries, he told foreign correspondents in Colombo.

Already 400 million US dollars had been drawn down from India.

Some of the existing rupee bond holders are those that received securities through private placements, he said.

Sri Lanka will also call proposals from international banks for a syndicated loan of a billion dollars for 5-year or more, he said.


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