Central Bank Governor
Nandalal Weerasinghe has said that Discussions are underway with India for a
billion US dollar swap, and another 1.5 billion US dollars are expected from
deferred payments under the Asian Clearing Union.
India has already
deferred about 1.5 billion US dollars from payments due under the Asian
Clearing Union to India on imports.
Sri Lankan importers pay
about 500 million US dollars every two months to the central bank to be
remitted to India. “They have agreed to defer that,” Governor Nandalal
Weerasinghe told parliament’s COPE Assembly.
“We have used about 1.5 billion so far. There is another 1.5 billion that will collect at the Central Bank over the next six months. In addition, we are discussing with India to get from RBI a swap facility of about one billion US dollars. That is at the discussion level.”
Sri Lanka has received
500 million US dollar oil credit for petroleum and are have agreed to give
another 500 million dollars, Governor Weerasinghe said.
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