Sri Lanka wants a new loan of one billion dollars from India for the purchase of essential goods
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Sri Lanka has received an incentive package of $ 333 million from the International Monetary Fund to overcome its economic crisis. This is the first installment of the three billion dollar stimulus package of the Monetary Fund. This will help the country to get financial support from other partner countries as well.
Sri Lanka will seek a new $1 billion temporary line of credit from India to buy essential goods, including food and medicine. Sri Lanka’s official media gave this information on Monday. Sri Lanka has received an incentive package of $ 333 million from the International Monetary Fund to overcome its economic crisis. This is the first installment of the three billion dollar stimulus package of the Monetary Fund. This will help the country to get financial support from other partner countries as well.
The official Daily News newspaper reported that Sri Lankan finance ministry officials have agreed with their Indian counterparts to obtain a new temporary $1 billion facility to “purchase essential food, medicine and other goods for the country”. Conversed with Meanwhile, Dr. Indrajit Kumaraswamy, former Governor of the Central Bank, said in a discussion organized by the Center for Banking Studies of the Central Bank, “…the Reserve Bank is also in talks to secure the swap of the Indian rupee.” Is. The amount is still uncertain and could be as high as a billion dollars. That is still being worked out.” The Daily Mirror newspaper quoted the senior economist as saying on Saturday, “This is expected to boost Sri Lanka-India trade.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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