FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post


ADVERTISE
Poll

EXCHANGE RATE PREDICTION: 2022

 
 
 
 

View results

ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» When will supply chain disruptions ease?
by ResearchMan Today at 9:57 am

» The war in Ukraine is no longer shocking the wheat market
by ResearchMan Today at 9:50 am

» KHL Massive forex gains close to 6 billions
by rajini Yesterday at 10:54 pm

» Tourism in Sri Lanka: One step forward, two steps back
by rajini Yesterday at 9:21 pm

» Expolanka to continue its winning streak
by samaritan Yesterday at 4:12 pm

» Govt gets its priorities wrong
by samaritan Yesterday at 10:25 am

» Ambassador assures U.S. support to Sri Lanka to find solutions to economic issues
by samaritan Yesterday at 10:16 am

» IMF-Sri Lanka bailout talks end without a deal
by ChooBoy Yesterday at 9:16 am

» Sri Lanka Breaks Into Hyperinflation Zone Amid Dollar Crunch
by CHRONICLE™ Yesterday at 8:11 am

» Sri Lanka needs to do more on debt restructuring before a bailout package is finalised, says IMF
by CHRONICLE™ Yesterday at 8:06 am

» Global COVID cases rise as BA.4 and BA.5 expand
by samaritan Yesterday at 7:04 am

» POSITIVES & TARGETS BY IMTIAZ BUHARDEEN
by Gowri123 Wed Jun 29, 2022 4:38 pm

» We’re seeing a shift toward international and value stocks, says Schwab’s Kleintop
by target1 Wed Jun 29, 2022 2:40 am

» Wall Street stumbles as consumer pessimism stokes growth fears
by target1 Wed Jun 29, 2022 2:34 am

» Free Market Capitalism vs. Crony Capitalism
by target1 Wed Jun 29, 2022 2:30 am

» Sri Lankan corporations reap large profits as workers and rural toilers face poverty and starvation
by CHRONICLE™ Tue Jun 28, 2022 6:37 pm

» අද රාත්‍රියෙන් පසු, යක්ෂයාගේ හෝරාව ඇරඹේ!
by God Father Tue Jun 28, 2022 6:13 pm

» Derana 360 with Minister Dhammika Perera
by samaritan Tue Jun 28, 2022 1:07 pm

» CENTRAL INDUSTRIES PLC (CIND.N0000)
by LHW Tue Jun 28, 2022 9:24 am

» Breaking News- Kanchana to go to Qatar ; 2 more ministers off to Russia
by Beyondsenses Tue Jun 28, 2022 8:13 am

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » INDIA SAID TO WORK ON $1.9 BILLION ECONOMIC AID FOR SRI LANKA- Bloomberg

INDIA SAID TO WORK ON $1.9 BILLION ECONOMIC AID FOR SRI LANKA- Bloomberg

Go down  Message [Page 1 of 1]

bizstock


Equity Analytic
Equity Analytic

India Is Said to Work on $1.9 Billion Economic Aid for Sri Lanka
2021-12-21 10:10:21.423 GMT


By Shruti Srivastava and Anusha Ondaatjie
(Bloomberg) -- India is working on an economic package
worth as much as $1.9 billion to help Sri Lanka, according to
people with knowledge of the matter, as the island nation
struggles to rebuild foreign reserves that are enough to cover
just a month of imports. 

Credit lines being considered include $1 billion in two
equal tranches for importing essentials such as food and
medicines by next month and $500 million for fuel purchases from
India, the people said, asking not to be identified as the
discussions are private. The Reserve Bank of India is also in
talks with Colombo for a $400 million currency swap, they said.


The aid will help Sri Lanka buy more time to build its
foreign exchange reserves, which fell to $1.59 billion as of
November. The pile is enough to barely cover a month’s import,
stoking fresh concerns about the nation’s ability to honor debt
maturing next year -- the reason cited by Fitch Ratings for
cutting the sovereign’s credit score deeper into junk territory
last week.


Earlier this month, Sri Lanka’s Finance Minister Basil
Rajapaksa met with his Indian counterpart Nirmala Sitharaman and
Foreign Minister S. Jaishankar in New Delhi. The two sides
agreed on short- and medium-term cooperation including an urgent
food and health security package, credit to cover import of fuel
from India, early modernization of the Trincomalee tank farm and
a currency swap, according to a statement from the Sri Lankan
High Commission in the Indian capital.

 
India is negotiating development of Trincomalee oil tank
farm as a part of the assistance deal, one of the people said.
India’s foreign ministry didn’t immediately respond to messages
and an email seeking comment, while Sri Lanka’s media minister
Dullas Alahapperuma didn’t respond to a question on whether the
tank farm was part of conditions to secure inflows from India.
Colombo, which has curbed imports to conserve foreign
exchange, raised fuel prices effective Tuesday to crimp demand
and preserve dollars.

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum