Sri Lanka government Thursday approved the issue of international sovereign bonds in the international capital market under the supervision of the Central Bank upto USD 1000 million.
Government spokesman Mass Media and Inf
ormation minister Keheliya Rambukwella told media that the government under the supervision of Sri Lanka Central Bank will issue International Sovereign Bonds in the international Capital Market at appropriate, longer term maturity during the year 2010.He said that the Monetary Board having assessed the borrowing needs, resource availability and implication of the borrowing programme on the domestic interest rate structure, was agreeable to the issuance of international sovereign bonds upto the value of US$ 1000 million.
“The Appropriation Act No 7 of 2010,has authorized a gross domestic and foreign borrowings limit of Rs. 980 billion for 2010.It consists of Rs. 456 billion provided for repayment of loans and the balance Rs. 524 billion as new borrowings to meet other financing needs including domestically financed capital projects." The minister said So far in the year the government has borrowed Rs 389 billion and the borrowings for the rest of the year could go upto Rs 591 billion without exceeding statutory limits.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.