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  2. Economy of Sri Lanka - Wikipedia

    en.wikipedia.org/wiki/Economy_of_Sri_Lanka

    In 2018 China extended a loan of $1.25 billion consisting of a below-market-rate syndicated loan and smaller Panda bond to bail out Sri Lanka. [ 198 ] [ 199 ] [ 200 ] In 2021, Bangladesh agreed to give Sri Lanka loans of at least $200 million from the foreign exchange reserves under a currency swap deal.

  3. Sri Lankan economic crisis (2019–present) - Wikipedia

    en.wikipedia.org/wiki/Sri_Lankan_economic_crisis...

    Sri Lanka issued its first international sovereign bond in 2007, with high interest rates to incentivise investors. According to commentators, the money was used to fund vanity projects rather than projects of national utility. [40] Sri Lanka's foreign debt increased substantially, going from US$11.3 billion in 2005 to $56.3 billion in 2020. [41]

  4. Sri Lanka and the International Monetary Fund - Wikipedia

    en.wikipedia.org/wiki/Sri_Lanka_and_the...

    Sri Lanka is an island nation located in the Indian Ocean. Sri Lanka joined the International Monetary Fund on August 29, 1950. [1] Since June 1965, Sri Lanka has taken 16 loans from the IMF, with a total value of 3,586,000,000 SDR's. The most recent of these loans was agreed to in June 2016, with an agreed total of 1,070,780 SDR's, and ...

  5. Sri Lanka reduces interest rates for 1st time since ... - AOL

    www.aol.com/news/sri-lanka-reduces-interest...

    The Central Bank said in a statement that the lending and deposit interest rates were reduced by 250 basis points to 14% and 13%. According to the Central Bank, the headline inflation stood at 35. ...

  6. Debt restructuring in Sri Lanka - Wikipedia

    en.wikipedia.org/.../Debt_restructuring_in_Sri_Lanka

    Given the strained financial circumstances, the Sri Lankan government has opted for debt restructuring as a means to manage its domestic debt. This involves renegotiating the terms and conditions of existing debts, such as extending maturity periods, reducing interest rates, or rescheduling payments.

  7. Sri Lankan president says he is seeking to defer loan ... - AOL

    www.aol.com/news/sri-lankan-president-says...

    Sri Lanka's president said Wednesday that he is seeking a loan repayment moratorium until 2028 as the debt-ridden county tries to emerge from bankruptcy. President Ranil Wickremesinghe told ...

  8. Sri Lanka sovereign default - Wikipedia

    en.wikipedia.org/wiki/Sri_Lanka_sovereign_default

    Sri Lanka's newly appointed Central Bank Governor Nandalal Weerasinghe sharply raised policy rates on April 8 allowing interest rates to go up and reduce money printing. By end March foreign reserves were down to US$1.9bn and there were concerns over their actual usability since about US$1.5bn which had come from a Renminbi swap from China.

  9. Grameen Bank - Wikipedia

    en.wikipedia.org/wiki/Grameen_Bank

    Grameen Bank ( Bengali: গ্রামীণ ব্যাংক) is a microfinance specialized community development bank founded in Bangladesh. [4] [5] It makes small loans (known as microcredit or "grameencredit") [6] to the impoverished without requiring collateral . Grameen Bank is a Statutory Public Authority. It is originated in 1976, in ...