Sri Lanka will not default debt repayments : Cabraal

COLOMBO (News1st): Sri Lanka has sufficient funds to meet its external debt obligations, state finance minister Ajith Nivard Cabraal has said. "We can pay it (the debt) all very comfortably," Cabraal told a news briefing on Wednesday. He pointed out that Sri Lanka does not require to purchase international sovereign bonds in the coming years, as currency swaps are in the pipeline. "Sri Lanka cannot always resort to loans as a tool to move forward," he said. The state finance minister noted that a bill on the Port City in Colombo, that is under construction, will be brought to Parliament shortly. "We are working on attracting investments to the Port City," Cabraal noted.