Sri Lankan government wants to extend the credit line by 6-12 months because there was about $300 million of it left unused.
Sri Lanka wants India to extend credit line
Sri Lanka has urged India to extend by a few months a USD1 billon credit line New Delhi extended in the wake of the island nation’s worst economic crisis.
The Daily Mirror of Colombo reported on Wednesday that the credit line was to expire on March 17.
Two-thirds used
It quoted Reuters as saying that Colombo had used only about two-thirds of the credit, mainly for medicines and food, and so it wanted an extension.
A source in the Sri Lankan finance ministry was quoted as saying that the government wanted to extend the credit line by 6-12 months because there was about $300 million of it left unused.
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