Sri Lanka asks for international debt relief on Coronavirus hit

Sri Lanka has asked international lending agencies to give debt relief for vulnerable nations as a coronavirus pandemic is wreaking havoc around the world

Mar 25, 2020
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Colombo: Sri Lanka has asked international lending agencies to give debt relief for vulnerable nations as a coronavirus pandemic is wreaking havoc around the world.

“President Gotabaya Rajapaksa requests international donor agencies to provide a debt moratorium or debt deferment facility to all vulnerable developing nations to the COVID – 19 risk,” his office said in a statement.

“President had urged Director General of the World Health Organization to forward this request to multi-lateral and bilateral lending agencies.”
 
Sri Lanka has over 4.0 billion US dollars to repay in 2020, but the economy has been hit by a Coronavirus epidemic which has cripple exports.

Sri Lanka has made large liquidity injections into money market over the recent weeks and the rupee is under pressure. (Colombo/Mar25/2020)

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