Sri Lanka negotiating US200mn swap with China Development Bank

ECONOMYNEXT – Sri Lanka’s central bank close to finalizing a 200 million US dollar swap with China Development Bank, Governor Indrajit Coomaraswamy said.

The terms have been negotiated and the contract is with attorney general for legal clearance, he said.

Sri Lanka’s foreign reserves fell to 6.1 billion US dollars in October.

The International Monetary Fund also approved a second tranche earlier this month.

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