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Sri Lanka set to avert debt crisis this year: central bank chief

South Asian island plays balancing act to secure bailouts from China and India

Central Bank of Sri Lanka Gov. Indrajit Coomaraswamy expects the Indian Ocean tug of war between China and India to help his country secure aid. (Photo by Yuji Kuronuma)

COLOMBO -- Sri Lanka is on course to avert a balance of payments crisis this year, the country's central bank chief says, expressing confidence in the island nation's ability to secure aid from both China and India to repay looming debts.

The South Asian country intends to use its politically important location in bailout negotiations, Central Bank of Sri Lanka Gov. Indrajit Coomaraswamy told the Nikkei Asian Review in an interview on Jan. 24.

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