Sri Lanka has successfully completed its repayment of a USD 200 million loan obtained through a currency swap agreement with Bangladesh. According to sources from the Bangladesh Bank, the Sri Lankan government settled the final installment of USD 50 million, along with an interest payment of USD 4.5 million, on September 21, 2023.

This repayment follows a phased approach, with Sri Lanka having already repaid USD 100 million on September 2, 2023, and an additional USD 50 million on August 17, 2023.

This achievement comes as Sri Lanka's economy has been steadily recovering from a severe financial crisis that gripped the nation just one year ago. During that crisis, the country witnessed a staggering inflation rate of 69.8 percent in September. However, recent data shows a significant improvement, with inflation dropping to 6.3 percent in July, reflecting positive developments in the nation's economic landscape.