After India , SL turns to China for more financial support

19 March 2022 07:05 am - 5 - {{hitsCtrl.values.hits}}

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In the wake of the foreign exchange crisis, Sri Lanka has sought further financial assistance from China including the deferment of loan payments and a credit arrangement to import essentials and raw materials, Daily Mirror learns.

Sri Lanka has to pay more than US $ 100 million to the Chinese banks as loan installments this year.

According to informed sources, the government has sought assistance to reschedule these payments till the country gets over the current crisis.

Besides, the government has sought a separate credit arrangement to purchase raw materials from China, needed for the local industries to be sustained.

Asked about the situation, a spokesman for the Chinese embassy said he could only confirm that Sri Lanka had asked for more financial assistance and both sides were working on it.

Earlier, Sri Lanka secured a US $ 1 billion credit line from India to purchase essential food commodities and pharmaceuticals. Also, a US $ 500 million credit line has been arranged to purchase fuel from India. (Kelum Bandara)

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Comments - 5

johan Saturday, 19 March 2022 09:09 AM

Basil to India Mahinda to China to seek assistance. Promise for resettlement after three years at that time will this government be in power

Tax Payer Saturday, 19 March 2022 09:11 AM

The request from China is for loans to be rescheduled until SL gets over the current crisis. Can SL get over the crisis during the term of this Govt. ?

Ram Saturday, 19 March 2022 09:17 AM

When GOSL is seeking credit arrangements from India and now from China the talk that IMF help will be sought is bullshit to hoodwink the people. All these credit will be at a higher interest than IMF

Kevin John Saturday, 19 March 2022 05:42 PM

Sri Lankan learn to luve racism ,slavery and the begging

ala Saturday, 19 March 2022 06:16 PM

who is the pimp , India or China

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After India , SL turns to China for more financial support

Comments - 5

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