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Monday May 10th, 2021
Economy

Sri Lanka to relax foreign borrowing limits of private firms: Buget2017

ECONOMYNEXT – Sri Lanka will allow private firms to borrow more abroad but they have to hedge forex risks, Finance Minister Ravi Karunanayake said.

There was a limit of 35 percent of capital on foreign borrowings, he said.

Companies could borrow abroad but they have to hedge the forex exposure, Karunayake said. Violators will be fined 50 million rupees, he said.
 

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