India extends duration of USD 400 mn currency swap facility with Sri Lanka
In an unstinted and multi-faceted support to Sri Lanka which is grappling with its worst-ever economic crisis, India has extended the duration of the USD 400 million currency swap facility which had been concluded with the island nation in January. This was the first extension of an international debt instrument to Sri Lanka after the government led by President Gotabaya Rajapaksa on April 12 temporarily suspended debt servicing. The embattled government had announced an orderly default until the country came to an agreement with the International Monetary Fund (IMF) for…
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