ECONOMYNEXT – Sri Lanka’s central bank has repaid 225 million US dollars to the Reserve Bank of India in the first quarter of 2024, on top of earlier repayments, official data shows.
In October 2023 the Sri Lanka gave a Treasury guarantee to cover a 2,601.43 million dollar credit from RBI to Sri Lanka’s central bank.
Sri Lanka’s got deferred payments due to India via the Asian Clearing Union during the worst currency crisis triggered by rate cuts since the creation of the central bank.
According to official data the outstanding debt due to the Reserve Bank of India fell to 2,226.43 million US dollars by end March 2024 from 2,451.43 million dollars in December.
From October the central bank had repaid 375 million dollars to India.
Sri Lanka has repaid debt and also collected reserves by avoiding precipitate rate cuts.
More: - https://economynext.com/sri-lanka-repays-us225mn-to-reserve-bank-of-india-in-first-quarter-168998/
In October 2023 the Sri Lanka gave a Treasury guarantee to cover a 2,601.43 million dollar credit from RBI to Sri Lanka’s central bank.
Sri Lanka’s got deferred payments due to India via the Asian Clearing Union during the worst currency crisis triggered by rate cuts since the creation of the central bank.
According to official data the outstanding debt due to the Reserve Bank of India fell to 2,226.43 million US dollars by end March 2024 from 2,451.43 million dollars in December.
From October the central bank had repaid 375 million dollars to India.
Sri Lanka has repaid debt and also collected reserves by avoiding precipitate rate cuts.
More: - https://economynext.com/sri-lanka-repays-us225mn-to-reserve-bank-of-india-in-first-quarter-168998/
