Sri Lanka offered US$1.5bn equivalent Renminbi swap from China

ECONOMYEXT – Sri Lanka has been offered a 1.5 billion US dollar equivalent Renminbi swap from the People Bank of China, Central Bank Governor Indrajit Coomaraswamy said.

The swap has a tenor of three years, he said.

Because the swap is denominated in Yuan, the Central Bank is studying the matter, he said.

Sri Lanka is also in talks for a 400 million US dollar swap from the Reserve Bank of India.

Coomaraswamy said the RBI swap had to get approvals from the cabinet and the attorney general, and he expects it to be drawn down soon. (Colombo/Feb22/2019-SB)

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