Sri Lanka discusses new loan from China
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13

Sri Lanka discusses new loan from China

Sri Lanka discusses new loan from China

The Governor of the Central Bank Ajith Nivard Cabraal says that Sri Lanka would try to negotiate a new loan from China to cushion the effects of the country’s debt repayments to China itself.

 

Responding to a question from journalists at a press briefing in Colombo yesterday (12), he said that Sri Lanka has a very good understanding with China about its debt and debt repayment as well as investments. “So maybe there is a possibility that we would have a new loan coming from China in order to cushion the effects of our debt repayments to China itself.

 

He said it is to cushion the debt repayments to China that Sri Lank would try to negotiate a new loan for that purpose as well as for any other purposes. The central bank governor said that Sri Lanka is also negotiating USD 1 billion facility with India to import goods from the neighboring nation. We are also negotiating with India to have a USD 1 billion facility with India in order to import goods from India,” Mr. Cabraal said.

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