Sri Lanka will be bankrupt by January: Harsha -BY Shenal Fernando Source: Themorning Says $ 1.4 b outflows expected in Dec., Jan. Negative $ 437 million currency reserves by end Jan. $ 4.8 billion due in Feb.-Oct. 2022 Negative $ 4.7 billion currency reserves by Oct. Sri Lanka will be bankrupt by January 2022 as the country’s foreign currency reserves are insufficient to fund the foreign currency-denominated debt service repayments over the next two months, Samagi Jana Balawegaya (SJB) MP Dr. Harsha de Silva claimed.  “During the months of December and January we have to repay $ 114 million in short-term funds. In addition, we have to repay $ 1,137 million in other loans as well as $ 194.7 million in interest payments. Therefore by end January we will have only $ 140 million left from the existing total foreign reserves and when considering in terms of liquid foreign currency, ...

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Sri Lanka and China sign US$ 1.5 billion currency swap deal Source:Dailymirror The Central Bank of Sri Lanka (CBSL) and the People’s Bank of China (PBoC) have entered into a bilateral currency swap agreement with a view to promoting bilateral trade and direct investment for economic development of the two countries, and to be used for other purposes agreed upon by both parties, CBSL said. The People’s Republic of China remains Sri Lanka’s largest source of imports. In 2020, imports from China amounted to US$ 3.6 billion (22.3% of Sri Lanka’s imports).  ...

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