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Sunday June 20th, 2021
Economy

Sri Lanka will make bullet repayment in sovereign bond in July: President’s Secy

ECONOMYNEXT – Sri Lanka will make a bullet repayment on a billion US dollar sovereign bond that is falling due in July and maintain the country’s record of not having defaulted on debt, Secretary to the President P B Jayasundera said.

“Within another 30 days the government will honour a one billion dollar bullet repayment of sovereign bonds,” Jayasundera told an investment forum organize by the Ceylon Chamber of Commerce, Colombo Stock Exchange and the Board of Investment.

Jayasundera said foreign debt has been reduced by around 4 billion US dollars in 2020 to 30.2 billion US dollars.

Over all with private and other debt foreign debt had been brought down to 49.2 billion US dollars from 54.8 billon US dollars a year earlier.

Over all with private and other debt foreign debt had been brought down to 49.2 billion US dollars from 54.8 billon US dollars a year earlier.

Central Bank Governor W D Lakshman said Sri Lanka was pursuing import controls, import substitution and boosting exports.

Financial inflows were also being promoted with swaps with central banks to boost resources to repay debt and maintain the country’s ‘untainted’ record in repaying debt.

Sri Lanka is consciously reducing foreign debt and borrowing domestically he said. (Colombo/June07/2021)

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