Sri Lanka plans US$1.5bn sovereign bond in 2017

ECONOMYNEXT – Sri Lanka plans to raise up to 1.5 billion US dollars from a sovereign bond in 2017, Central Bank Governor Indrajit Coomaraswamy said.

Cabinet approval had been sought to go to international markets, he said.

In addition Sri Lanka has also floated a syndicated loan for up to a billion US dollars.

Deputy Governor Nandalal Weerasinghe said in 2017, government debt service was around 2.6 billion US dollars for 2017.

Governor Coomaraswamy said some of the dollar inflows expected in 2017, which could also involve sales proceeds of Hambantota Port, Mattala Airport, sales of non-strategic state ventures and land could be used to reduce or lengthen the tenor of foreign debt.  (Colombo/Feb08/2017)


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