SL to receive US dollars 1.5 billion from China as swap

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Sri Lanka is set to receive a swap of US 1.5 billion from the Central Bank of China to raise its foreign reserves.

The Central Bank (CB) last week explained that measures were being taken to ensure that by end of 2021 official reserves will remain above US dollars 3 billion.

The CB said as articulated in the Six-Month Road Map, number of foreign exchange inflows are envisaged in the very near term.

“Major foreign exchange inflows to the Central Bank include SWAP facilities with Middle Eastern and other regional central banks amounting to about US dollars 2 billion. The Government is also in the process of securing Government to Government financing, syndicated loans as well as loans from multilateral organisations,” the CB said.

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