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Sri Lanka Can’t Use $1.5 Billion Swap on China IMF Concerns

  • Seeking more cash from India, sees Japan aid forthcoming
  • Seeking rapid aid and longer extended fund facility from IMF
Indrajit Coomaraswamy
Indrajit CoomaraswamyPhotographer: Ore Huiying/Bloomberg
Updated on

Bankrupt Sri Lanka can’t tap a $1.5 billion credit line from Beijing as China is concerned the International Monetary Fund may force delays in repayment.

“There is a condition in relation to the months of import cover that we need to have in order to be able to draw on that money,” said Indrajit Coomaraswamy, a former central bank of Sri Lanka governor who is advising the government.