Sri Lanka to raise over US $ 2.5 Bn via further International debt – CBSL

October, 3, 2018

Sri Lanka’s financial market regulator Central Bank (CBSL) plans to raise over US $ 2.5 billion through at least 1 billion in a U.S. Dollar International Sovereign Bond (ISB) issue, another US $ 250 million each from Panda (Yuan) Bonds and Samurai (Yen) Bonds with another over US $ 1 billion loan from China Development Bank within coming months before the end of the year, the Central Bank of Sri Lanka (CBSL) Governor Dr. Indrajit Coomaraswamy told reporters yesterday (02) at a meeting held to brief on the latest policy interest rates decision.  

Accordingly addressing the routine post monetary policy review press conference, CBSL Governor had told reporters that a billion dollar loan from China Development Bank is expected to come within a week.

Meanwhile CBSL said that, Sri Lanka’s current foreign reserve position is at around US $ 7.3 billion and so far this year the CBSL has only spent over US$ 184 million (Net basis) worth of reserves to defend the rupee against the US dollar. However it was evident that the CBSL intervened aggressively to adjust the exchange rate during the first few weeks of September 2018.