RBI extends Sri Lanka swap line
Island nation defaulted amid debt, currency and balance of payment crises
The Reserve Bank of India has extended a $400 million swap line first granted to its Sri Lankan counterpart in January. The Indian high commission in Colombo announced the extension in a tweet on April 22, citing India’s “unstinted and multi-faceted support” for its island neighbour.
The Central Bank of Sri Lanka has been arranging swap lines with other Asian central banks since at least 2020. In July 2020, it concluded an earlier agreement for a $400 million swap line with the RBI, which the
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