Talks underway between SL and China for a currency swap agreement

19 July 2020 11:07 pm - 14     - {{hitsCtrl.values.hits}}

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Negotiations are underway between Sri Lanka and China for a currency swap agreement, a spokesperson said yesterday.
Chinese People’s Bank which is China’s Central Bank and the Central Bank of Sri Lanka are currently negotiating this agreement.
A spokesperson for the Chinese embassy in Colombo told Daily Mirror that there would be some concrete developments by the end of this month hopefully.  He said the amount would be negotiated.
Asked about the request for a moratorium for the payment of loans obtained from China, he said the two countries were in close contact with each other regarding financial cooperation in terms of loans, investment and other forms.

A similar currency swap agreement had been signed between the two Central Banks in 2014 when Prime Minister Mahinda Rajapaksa was the President.
Meanwhile, the Central Bank of Sri Lanka will sign a US $ 1.1 billion currency swap deal with the Reserve  Bank of India this week.(Kelum Bandara)

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  Comments - 14

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  • Lumbini Monday, 20 July 2020 07:35 AM

    Is the swap between Rupees and Chinese currency or US dollar and Chinese currency?

    Jude Monday, 20 July 2020 07:51 AM

    Instead of currency swap hand over Mattala Airport !!??

    Islander Monday, 20 July 2020 08:32 AM

    Give the Chinese Hambanthota and they will buy the entire Sri Lanka. They appear to like Islands!!!

    Sokrates Monday, 20 July 2020 08:49 AM

    With this criminal and inhuman dictatorship of China, there can be no more agreements, especially now that the felon and mass murderer Xi took Hong Kong's freedom away.

    sarath Monday, 20 July 2020 09:44 AM

    for all the mighty claims by our politicians, our economy is run by China and India

    BuffaloaCitizen Monday, 20 July 2020 09:45 AM

    This kind of patriotic way of selling the countries finances can happen only under the Rajapakses.

    Johan Monday, 20 July 2020 09:49 AM

    Loans obtained for the useless projects in Hambantota and some highways were partly settled by the Yahapalana Government. What happened to this government why they avoid Repayment without settling in time.Do they want To keep the balance for the future generation.

    Premalal Perera Monday, 20 July 2020 10:14 AM

    Very soon the country will be up for swap.

    navaratna willamune Monday, 20 July 2020 01:36 PM

    currency swaps are used to avoid payments in american dollars? advantage and disadvantages not sure ?

    Ketheesh Waran Monday, 20 July 2020 02:05 PM

    It is bad for Sri lanka. Step in the wrong direction to become as Chinese colony in future. Finally the brothers will sell the country

    kumaran Monday, 20 July 2020 04:38 PM

    All these are temporary! Empires come and empires go. But God is everlasting and He sees and knows the deepest thoughts of man.

    kumaran Monday, 20 July 2020 04:38 PM

    All these are temporary! Empires come and empires go. But God is everlasting and He sees and knows the deepest thoughts of man.

    Kim Monday, 20 July 2020 06:15 PM

    When many countries around the world don't want to have anything to do with China these days Sri Lanka is one of the very few countries in the world that is under obligation to China. The Chinese now have a very poor image around the world especially after failing to control the spread of the corona virus pandemic which originated in one of their labs killing thousands of people around the world due to sheer incompetence on their part. You just cannot trust the Chinese anymore who have now lost all credibility around the world. Very soon Sri Lanka will learn a very bitter lesson.

    Antony Jude Monday, 20 July 2020 08:29 PM

    We don't export anything to China but borrow high interest loan from them. China do not buy anything from Srilanka except land. what's the purpose of this currency swap?


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