Sri Lanka to sign MOU with China to enhance market liquidity


Apr 07, 2016 (LBO) – Sri Lanka’s Prime Minister Ranil Wickremesinghe who is currently on an official visit to China is to sign an MOU in view of maintaining financial stability of the country by enhancing liquidity of the market.

The cabinet nod has been given to the above proposal yesterday at the weekly cabinet meeting.

Prime Minister revealed Parliament recently that Sri Lanka is currently looking at one billion US dollars worth currency swap agreement with China.

Sri Lanka received a 700 million US dollars currency swap from the Indian Central Bank earlier last month.

The expected MOU will also cover the development of agriculture and infrastructure in Sri Lanka, the cabinet said.