Sri Lanka gets nod to sell US$1.5bn sovereign bond

ECONOMYNEXT – Sri Lanka’s Cabinet of ministers has approved government borrowing of 1.5 billion US dollars through an International Sovereign Bond, the state information office said.

Sri Lanka will go to market as conditions permit.

In 2019, Sri Lanka had already sold 2.4 billion US dollars, though a sovereign bond.

The requirement to issue the International Sovereign Bond was proposed by Finance Minister Mangala Samaraweera, a statement said.

The decision to issue the ISB takes into account current international bond market conditions as well as government borrowing limits, it said.
(COLOMBO 29 May 2019)

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