Sri Lanka seeks to increase swap amount to $1 billion from RBI

NEW DELHI (Reuters) - Sri Lanka has begun talks with the Reserve Bank of India (RBI) to increase its swap amount to $1 billion, the acting finance minister said on Tuesday, as it struggles with the rising cost of its debt.

Minister of State for Finance Eran Wickramaratne also confirmed a Reuters report that the government was considering a loan offer of $300 million from the Bank of China to help it repay its debt over the next several months.

(Reporting by Shihar Sneez; Editing by Sanjeev Miglani and Angus MacSwan)