Currency Swap between Bangladesh and Sri Lanka
On 26th May, 2021, Bangladesh Bank, Bangladesh’s central bank approved a $200 million currency swap agreement with Sri Lanka, which will help Colombo tide over its foreign exchange crisis.
Key Points
- Sri Lanka, staring at an external debt repayment schedule of $4.05 million in 2021 is in urgent need of foreign exchange.
- A currency swap is effectively a loan that Bangladesh will give to Sri Lanka in dollars, with an agreement that the debt will be repaid with interest in Sri Lankan rupees.
- For Sri Lanka, this is cheaper than borrowing from the market, and a lifeline as it struggles ....
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Related Content
- 1 India Assumes Chairmanship of Bay of Bengal Inter-Governmental Organisation
- 2 Israel Withdraws from UN Human Rights Council
- 3 US Shifts Stance on Ukraine at UN Vote
- 4 India at the Indian Ocean Conference
- 5 India and France Strengthen Partnership
- 6 US-India COMPACT Initiative
- 7 Bhutan PM’s Visit Strengthens India-Bhutan Ties
- 8 India and Japan: Partnering for Africa’s Sustainable Development
- 9 Australia’s Roadmap for Boosting Trade Ties with India
- 10 Interpol Launches ‘Silver Notice’ to Combat Transnational Crime
- 1 Mali Suspended from African Union
- 2 China’s Three-Child Policy
- 3 US Opposes Militarization of Artic
- 4 Permanent Commission Proposed For Israel Human Rights Violations
- 5 Lithuania quits China’s 17+1 Cooperation
- 6 Project DANTAK
- 7 India backs Maldives’s candidature for UNGA President
- 8 India-Australia Meeting
- 9 First BRICS Employment Working Group Meeting
- 10 Asian Development Bank
- 11 G7 Foreign Ministers Summit
