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Gotabaya seeks additional $1.1 billion SWAP facility from Modi


Prime Minister Narendra Modi with Sri Lankan President Gotabaya Rajapaksa ahead of their bilateral meeting at Hyderabad House in New Delhi, on November 29, 2019. | File | Photo Credit: V.V. Krishnan

Sri Lankan President Gotabaya Rajapaksa on Saturday sought a “special” $1.1-billion currency swap facility from Prime Minister Narendra Modi to boost its foreign exchange reserves under strain in the wake of the coronavirus pandemic.

The Central Bank of Sri Lanka had recently sought a $400-million currency swap with the RBI under the SAARC facility. Mr. Rajapaksa told Prime Minister Narendra Modi over telephone that the additional amount “to ...


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