Latest Breaking News On - Sri lanka development - Page 13 : comparemela.com

Friday July 9, 2021 9:45 am Friday July 9, 2021 9:45 am ECONOMYNEXT – Sri Lanka has allowed domestic firms to borrow and invest in international sovereign bonds which are going at a discount after sovereign downgrades and balance of payments crisis triggered by liquidity injections. Domestic firms can buy ISBs by borrowing abroad or bringing in funds from abroad and placing half of them in dollar-denominated government bonds called Sri Lanka Development Bonds. “Repayment schedule of interest and capital of the said foreign currency borrowings shall be (as agreed between the resident borrower and the foreign lender) matched against the receipt of coupons and maturity proceeds of the corresponding investments in ISBs and SLDBs,” the central bank said.

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