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What amount of credit line has been sought by the Sri Lankan from India to purchase Crude Oil?
A)
$200 million
B)
$300 million
C)
$400 million
D)
$500 million

Correct Answer :   $500 million


* Sri Lanka has sought a USD 500 million credit line from India to pay for its crude oil purchases amid a severe foreign exchange crisis in the island nation.
 
* The move came few days after energy minister Udaya Gammanpila warned that the current availability of fuel in the country can be guaranteed only till next January.
 
* The state-run Ceylon Petroleum Corporation (CPC) owes nearly USD 3.3 billion to the two main government banks -- Bank of Ceylon and People's Bank. The state oil distributors imports crude from the Middle East and refined products from other areas, including Singapore.

Published On : October 19, 2021
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