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India to give debt moratorium for Sri Lanka?

17 July 2020 02:08 am - 10     - {{hitsCtrl.values.hits}}

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India is currently in discussion with the Sri Lankan authorities to grant a debt moratorium for Sri Lanka as requested by Prime Minister Mahinda Rajapaksa, the Daily Mirror learns.

The Prime Minister made this request from Indian Prime Minister Narendra Modi during his official visit to New Delhi in February this year.

Sri Lanka’s total outstanding loan component from India is US $ 962 million. This includes the interest accrued.

The payment due for this year with interest is US$169. 7 million. The Sri Lankan Government made this request as part of its plan for debt restructuring.

Meanwhile, the agreement for the currency SWAP faculty of US$ 1. 1 billion will be signed between the Reserve Bank of India and the Central Bank of Sri Lanka next week. (Kelum Bandara)

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  Comments - 10

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  • Siva Friday, 17 July 2020 03:38 AM

    They need the money as they are on a defense eqipment buying spree

    saman Friday, 17 July 2020 03:53 AM

    It would be good for people to know all the conditions that GOSL agreed upon.

    Siduhath Friday, 17 July 2020 06:12 AM

    Thought Srilanka is a rich country by the sounds of Pawul Paksa’s claims, and now we are begging for more debts? Where’s Gnanasara the nationalistic hero?

    BigEars Friday, 17 July 2020 07:43 AM

    The request is for a debt moratorium of US$169. 7 million. This is small compared to what we have to service this year. Looks like we are heading on a "Grease" track.

    Sambo Friday, 17 July 2020 07:54 AM

    and what are they expecting or being promised on behalf it by our government. Our development is selling lands to other countries.

    DillonDP Friday, 17 July 2020 08:26 AM

    Because of mathale airport threat

    Geetanjali Mishra Friday, 17 July 2020 08:27 AM

    Good cooperation between two countries. Should help each other during crisis.

    BuffaloaCitizen Friday, 17 July 2020 09:03 AM

    India should treat Sri Lanka in the same manner as China. Demand they right off sovereign areas of land for 99 years.

    sundar Friday, 17 July 2020 09:10 AM

    where are all the anti India Nationalists, WW etc. Can you (WW) go on a hunger strike

    Samantha Fernando Friday, 17 July 2020 06:25 PM

    When is that beggar Dr Wickramasinghe from USA who always predicts doomsday ?


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