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Sri Lanka to raise Treasury bill limit by Rs400bn

ECONOMYNEXT – Sri Lanka plans to raise the limit on issuing Treasury bills by 400 billion rupees in a resolution to be presented to parliament on October 20.

The Treasury has fully sold the existing 850 billion rupees of Treasuries.

Over 200 billion rupees of the bills have been bought by the Central Bank to inject liquidity in to the banking system and generate balance of payments pressure.

Several tax bills including controversial retrospective and one-off taxes are to be presented to parliament.

Attempts to raise the T-bill limit and controversial taxes failed earlier this year due to a lack of a parliamentary majority.

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