Govt to Obtain US$ 5,000 M Through Bonds
Co-Cabinet Spokesman Minister Gayantha Karunathilaka while briefing the media at the first Cabinet meeting for 2018, said that the Government has decided to obtain US$ 3,000 million, which translates into roughly Rs 456 billion, through the issuance of Sri Lanka Development Bonds for 2018. In addition US$ 2,000 million will be obtained by issuing International Sovereign Bonds
As per the Appropriation Bill, No. 30 of 2017, the highest estimated State loan that could be received has been tabulated at Rs 1,893 billion. Out of this figure Rs 1,150 billion has been set aside to repay the loans taken, while Rs 743 billion is for development projects and to meet other expenses.
Furthermore, out of the loan of Rs 1,893 billion, Rs 1,313 billion is to be obtained through domestic loan facilities and a further Rs 580 billion from overseas loan facilities, said Co-Cabinet Spokesman Minister Gayantha Karunathilaka. He added that the issuance of bonds will be supervised by a panel appointed by the Central Bank of Sri Lanka.