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 US$ 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 temporarily suspended debt servicing on April 12.
The Government had announced an orderly default until the country came to an agreement with the International Monetary Fund for a possible bailout package
“#India’s unstinted and multi-faceted support to #Srilanka continued. As ongoing currency support, @RBI extended the duration of the US$ 400 million currency swap for @CBSL which was concluded in #January this year.”, the Indian High Commission tweeted. – Times of India
