Sri Lanka to sell US$3.0bn in dollar bonds

ECONOMYNEXT – Sri Lanka has raised a limit on selling dollar-denominated Sri Lankan development bonds to 3.0 billion in 2017, the government said.

The cabinet of ministers had approved a proposal for more dollar debt by Finance Minister Ravi Karunanayake.

The move was due to ‘low liquidity’ in Treasury bills and bonds, a statement said.

Dollar-denominated SLDB’s are sold mainly to domestic investors who are permitted to have foreign currency accounts, including banks and exporters. (Colombo/Apr26/2017)

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