SRI LANKA NEWS (OCTOBER 2021) Compiled by Victor Melder. Sri Lanka has turned to China for more fuel purchases on long-term credit as the country continues to face serious issues in raising funds for oil imports. Sri Lanka was having discussions with China through the Chinese ambassador to purchase fuel for six months on a Sovereign Bond – the debt security issued by the Government to raise money for financing government programs. Existing diesel and petrol purchase arrangements which end in November and January respectively, would be extended to buy fuel on credit for the next six months. The move comes after similar talks with Oman to seek credit for US dollars 3.6 billion to buy refined and crude oil. Minister Gammanpila said initial talks had been held during his recent visit to Oman and agreements needed to be finalised to obtain the facility.Sri Lanka is expecting a five-year grace ...