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

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 ::
UNP ready to meet President with affidavits from more than 113 MPs
-- [1 minutes ago]
Senior police officer handing high profile investigations transferred
-- [1 hour and 1 minutes ago]
Sri Lanka President insists on another vote showing majority to accept no confidence motion against his PM
-- [2 hours ago]
Sri Lankan President's all-party meeting ends with no solution for ending the crisis
-- [3 hours ago]
TNA, UNP to attend President's all party meeting, JVP, Speaker will not
Suspect arrested while transporting over Rs. 25 million worth heroin
Isobar expands operations in Sri Lanka
President calls all party leaders for a conference today
Sri Lanka PM says he cannot be removed forcibly
US underscores a democratic outcome to political developments in Sri Lanka

Copyright © 2000, 2016 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, 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 LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.