The proposed US $ 1 billion loan to be obtained from China will be utilised to settle the previous loans from the Chinese banks, Daily Mirror learns.
Sri Lanka’s current loans from China also amount to nearly US $ 1 billion, a top source said. The latest method will be adopted since China does not have the concept of rescheduling debts.
The authorities of the two countries are currently negotiating terms and conditions of the new financial facility to be extended.
Besides, there will be another US $ 1.5 billion buyer’s credit from China to import materials from China.
The Board of Investment (BOI) of Sri Lanka has successfully increased Foreign Direct Investment (FDI)…
A total of 85 Chinese nationals convicted for various crimes, including cyber-related offences, were deported…
The Vehicle Importers Association of Lanka (VIAL) has urged the public to carefully consider their…
Former Presidents Mahinda Rajapaksa, Maithripala Sirisena, Ranil Wickremesinghe, former Ministers Basil Rajapaksa, P. Harrison, Wijith…
Two more daughters of former Minister Keheliya Rambukwella, Chamithri Jayanika Rambukwella and Amali Nayanika Rambukwella—as…
After a three-year run at the top of the annual list from the Economist Intelligence…