Lankapage Logo CP 19 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to

Leading News from Sri Lanka::

* Sri Lanka not under 'threat' from US-China trade tensions, says PM
Wed, Sep 12, 2018, 01:10 pm SL Time, ColomboPage News Desk, Sri Lanka.

Sept 12, Hanoi: Sri Lanka's Prime Minister Ranil Wickremesinghe says the country is not under 'threat' from growing China-U.S. trade tensions, as Chinese investments are not significant as Chinese loans.

In an interview with the CNBC on Wednesday, the Sri Lankan Premier said there is a fair amount of China loans and investments but the investments can't be seen as a threat, since the investments are as not big as loans and loans are still dollar-denominated.

However, the Premier said China was the main lender from 2008-2015 and there were short-term issues with China regarding the Hambantota Harbor and Mattala Airport and they have been sorted out. "At least we have turned them into profitable projects."

However, as far as the loans are concerned the biggest chunk today would be international sovereign bonds that needed to be repaid.

"We did point out that two much of borrowings can cause issues for us but the biggest segment of debt is what we raised on international markets and we are committed to repay them. We can't renegotiate them. With China or any other country we have some room but certainly not with the international sovereign bonds," he said.

In responding to a question about the depreciating Sri Lanka Rupee, the Prime Minister said the government is pushing for increased export earnings.

"We are staying with the fiscal limits that have been set. We have borrowed sufficient money and we are pushing for export earnings. Last year we had about US$ 11.7 billion of exports. This year we expect more," he said.


ColomboPage - Recent 10 Stories ::
Parliamentary committee decides to take legal action against 59 unruly lawmakers
-- [16 minutes ago]
Sri Lanka Navy nabs a person with over 3 Kg of Kerala cannabis
-- [1 hour and 13 minutes ago]
Villagers take to the road against the killing of Ratgama businessmen
-- [1 hour and 19 minutes ago]
Sri Lanka's Commercial Bank ends 2018 with a solid performance
-- [1 hour and 49 minutes ago]
Sri Lanka Telecom Group 2018 profits up by 25.58%
-- [1 hour and 59 minutes ago]
Several roads in Colombo to be closed tomorrow for IRONMAN 70.3 Colombo
-- [3 hours ago]
President instructs to complete multi-purpose Uma Oya Development Project by August
Ruwan Wijewardene sworn-in as non-Cabinet Minister of Mass Media
Rathgama businessmen were killed and burned, 15 police officers transferred to ensure impartial investigation
Sri Lanka January tea exports up by 13% while production declines

Copyright © 2000, 2016 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.