G7 to offer debt relief for SL

• The Indian Govt backed Reserve Bank of India (RBI) has said a $1 billion credit facility provided to SL to buy essential goods can be settled in Indian rupees

The Group of Seven economic powers support efforts to provide debt relief for Sri Lanka, G7 finance chiefs said on Thursday in a draft communiqué from a meeting in Germany, agency reports said.

Meanwhile The Reserve Bank of India (RBI) has said a $1 billion credit facility backed by the Indian government that has been provided to Sri Lanka to buy essential goods can be settled in Indian rupees, outside of the arrangement of the Asian Clearing Union arrangement - Repo