INSUBCONTINENT EXCLUSIVE:
The Central Bank of Bangladesh, Bangladesh Bank, has granted Sri Lanka six more months to repay the loan of USD 200 million, as per a
request made by Sri Lankan authorities.Accordingly, Bangladesh Bank had actually heeded to the island countrys demands to extend the
repayment period owing to its continuous financial crisis.Bangladesh gave USD 200 million to Sri Lanka under a currency swap contract in
2021, which was set in motion throughout former Prime Minister Mahinda Rajapaksas check out to Bangladesh.This was the very first currency
swap outside the Asian Clearing Union (ACU) system, which was triggered by chaos set off in that nation by the crisis.The ACU is an
arrangement including Bangladesh, Bhutan, India, Iran, Myanmar, Nepal, Pakistan, Sri Lanka and the Maldives, through which intraregional
deals among the taking part central banks are chosen a multilateral basis.
