Currency Swap Facility for Sri Lanka
- Reserve Bank of India (RBI) has decided to provide USD 400 million currency swap facility for Sri Lanka . however, this facility will be valid till November 2022. due to this, Sri Lanka will meet with its short-term international liquidity requirements and will help to increase its foreign exchange reserves following the economic crisis resulting from COVID-19 Disease.
Points to Remember –
- At recent, A “technical discussion” has been held btetween India and Sri Lanka for scheduling of the bilateral debt repayment.
- Also, there will be anthor round of technical discussions between bothe of nations, that will be held soon.
About Sri Lanka
Capital – Colombo, Sri Jayawardenepura Kotte
Currency– Sri Lankan Rupee
President– Gotabaya Rajapaksa
Prime Minister– Mahinda Rajapaksa