Sri Lanka may tap lenders for $500m
Sri Lanka may tap international lenders for $500m to fund post-war rebuilding following an IMF bailout that has boosted investor confidence in its finances, the central bank said yesterday.
Petroleum Industries Minister Susil Premajayantha said Sri Lanka was not likely to pay the huge compensation of US$ 261 million or the equivalent of over Rs. 30 billion demanded by three foreign banks for the abrogation of the controversial hedging deal with the CPC.