About: http://data.cimple.eu/news-article/aedba67d11d4caab3d911b52579e6240ac1bddaf7501aafdea5f203e

Facets (new session)
Description
Metadata
Settings
- owl:sameAs
- Inference Rule:

About: http://data.cimple.eu/news-article/aedba67d11d4caab3d911b52579e6240ac1bddaf7501aafdea5f203e Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

Attributes	Values
rdf:type	schema:NewsArticle
schema:articleBody	Sri Lanka and China have signed a $1.5 billion currency swap deal, the island nation's central bank said Tuesday, as it struggles with a major foreign exchange crisis and debt repayments. Colombo had been negotiating for months to secure credit from China -- its largest single source of imports -- as the island's foreign reserves plummet amid the pandemic. Chinese influence in the South Asian nation has been growing in recent years, through loans and projects under its vast Belt and Road infrastructure initiative, raising concerns among regional powers and Western nations. The Central Bank of Sri Lanka said the three-year swap arrangement for 10 billion yuan with the People's Bank of China was "with a view to promoting bilateral trade and direct investment for economic development of the two countries". Officials said talks were also under way to secure another $700 million from the China Development Bank. Sri Lanka's economy was already reeling from the deadly 2019 Easter bombings, with the coronavirus epidemic and lockdowns further weighing on growth. The economy contracted by a record 3.9 percent last year. Foreign reserves fell to $4.5 billion in February from $8.0 billion a year ago, despite Sri Lanka banning the import of luxury goods and vehicles as well as some food commodities. Under former president Mahinda Rajapaksa between 2005 and 2015, Colombo borrowed billions from China, accumulating a mountain of debt for expensive infrastructure projects. Rajapaksa returned to power as prime minister in 2019, after his brother Gotabaya Rajapaksa was elected president. Sri Lanka was forced to hand over its strategic Hambantota port on a 99-year lease to a Chinese company in 2017 after Colombo said it was unable to service the $1.4 billion debt from Beijing used to build it. aj/grk/leg
schema:headline	Sri Lanka secures $1.5 billion Chinese loan
schema:mentions	Foreign-exchange reserves 2019 Sri Lanka Easter bombings China Development Bank Joule Renminbi Colombo Mahinda Rajapaksa Gotabhaya Rajapaksa Asia Sri Lanka Pandemic China Magampura Mahinda Rajapaksa Port Currency swap Luxury goods
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-03-23 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	68 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

Faceted Search & Find service v1.16.115 as of Oct 09 2023

Alternative Linked Data Documents: ODE Content Formats:

RDF

ODATA

Microdata

About

OpenLink Virtuoso version 07.20.3238 as of Jul 16 2024, on Linux (x86_64-pc-linux-musl), Single-Server Edition (126 GB total memory, 11 GB memory in use)
Data on this page belongs to its respective rights holders.
Virtuoso Faceted Browser Copyright © 2009-2025 OpenLink Software