LBO Home IndoChina | About Us | To Advertise | Contact Us rss LBO Mobil rss rss rss rss rss
International Arbitration Centre to be established in Sri Lanka |     Electricity tariff reduction for hotels and shops from this November                                          A Special Tax Scheme for the motor vehicle imports instead of the current system                                          Value Added Tax reduced to 11 percent |     Aerospace Engineering Unit will be established at the Moratuwa University | EPF payment from the employer to be increased to 14%                                          Sri Lanka Customs to have a One Stop Service Center |  Import tax removed on infant milk food                                          A special duty scheme on motor vehicles for foreign employed individuals |  Main Sri Lankan towns to be developed under a special Urban Development Programme                                          
Sat, 25 October 2014 01:49:20
Sri Lanka will not sell sovereign bond this year: CB Governor
12 Dec, 2012 11:39:10
Dec 12, 2012 (LBO) - Sri Lanka has decided not to sell a sovereign bond in 2013, Central Bank Governor Nivard Cabraal said, urging commercial banks to tap the international capital market more.
"Government will not be taking direct loans from abroad," Cabraal told bank directors at a forum in Colombo.

"Commercial borrowing from the market will not happen this year.'

A unit within the Central Bank manages and raise debt for the government.

Cabraal said it will be a "useful window to the market" for commercial banks to tap international capital.

Sri Lanka's state-run Bank of Ceylon has raised loans in the international market and re-lent to the government in the past.

Authorities have also allowed bank to borrow up to 50 million US dollars a year without approval from the Central Bank from next year. Other companies could borrow up to 10 million US dollars.

Cabraal said foreign borrowing for fixed terms were more stable than even portfolio flows.

With foreign loans banks could finance larger projects such as infrastructure, he said.

Your Comment
Your Name/Handle
Your Email (Your email will not be displayed)
Location
Country
Your Email
Receivers Email
Your Comment