Sri Lanka to issue $1.5 billion of development bonds in 2017
Posted in Local News
Sri Lanka’s Cabinet has approved the issuance of $1.5 billion worth of development bonds in 2017 to strengthen the government’s borrowing programme, an official said on Wednesday.
“The proposal made by Ravi Karunanayake, minister of finance, to issue Sri Lanka development bonds of 1,500 million dollars to strengthen the governments borrowing programme 2017 was approved by the cabinet of ministers,” cabinet spokesman Gayantha Karunatileka told reporters.
Sri Lanka’s economy is still recovering from a debt and balance-of-payments crisis last year, although an economic reform programme is in place as required by the International Monetary Fund when it extended a $1.5 billion, three-year loan.
(Reuters)
Latest Headlines
- Sri Lanka relaxes import restrictions on over 300 items June 10, 2023
- Sri Lanka Government to go ahead with privatising SLT despite ‘NO’ from S.O.C. on National Security June 10, 2023
- Seven Police Narcotics Bureau officers arrested over death of vocational trainer in custody June 9, 2023
- Sectoral Oversight Committee on National Security recommends not to privatise Sri Lanka Telecom June 9, 2023
- Sarath Fonseka resigns from Sectoral Oversight Committee on National Security June 9, 2023
