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Sri Lanka to obtain debt from India and Australia ahead of Sinhala and Tamil New Year

Sri Lanka is set to obtain debt reliefs from India and Australia for the importation of food items for the upcoming Sinhala and Tamil New Year, disclosed Trade Minister Bandula Gunawardena.

Accordingly, discussions have already commenced to obtain a debt facility of US$ 01 billion from India and US$ 200 million from Australia.

Under the debt facility from India, potatoes, onions, dhal and medicines are expected to be purchased and under the debt from Australia, dhal and barley.

The imports backed by these debts will be sufficient for six months and the repayments are to be carried out in monthly instalments, reports added.

MIAP

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