Sri Lanka repays US$700mn Reserve Bank of India swap in June
ECONOMYNEXT – Sri Lanka’ had repaid a 700 million US dollar swap with the Reserve Bank of India in June, the Central Bank said.
India said in March 2016 that the 700 million dollar swap would have to be repaid in three months or until a deal with the International Monetary Fund comes into effect.
The IMF deal was approved by the lenders’ executive board in the first week of June.
Sri Lanka’s central bank had borrowed a total of 1.1 billion US dollars through two swaps. The remainig 400 million dollar swap has a term of six months from March 08. (Colombo/July01/2016)