Sri Lanka to double Development Bond limit to raise liquidity

Apr 26, 2017 (LBO) – Sri Lanka’s Finance Ministry is to increase the limit of issuing Sri Lanka Development Bonds (SLDBs) from 1,500 million US dollars to 3,000 million dollars including development bonds due to expire this year. Cabinet approval has also been granted to this proposal considering the low liquidity situation and interest rates […]

Sri Lanka to forge ahead despite external pressures: Ravi

Feb 17, 2017 (LBO) – Sri Lanka’s finances are improving despite global turmoil, Brexit and higher interest rates in the US, backed by a Fitch Ratings outlook upgrade, the finance minister said. “State revenues in 2016 rose to over 13 percent of gross domestic product from around 10 percent and the budget deficit had come […]

Sri Lanka President appoints members to commission on bond issue

Jan 27, 2017 (LBO) – Sri Lanka’s President Maithripala Sirisena today appointed a tri-member special presidential commission to inquire into the allegations of malpractices in the bond issues of the Central Bank. The commission comprises of Supreme Court judges Justice Kankanithanthri T. Chitrasiri, Justice Prasanna Sujeewa Jayawardena and retired Deputy Auditor General Vellupillai Kandasamy. The […]

‘s Auditor General acted unprofessionally: Finance Minister

Jan 25, 2017 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake today accused the Auditor General of releasing a confidential report to COPE without his knowledge. On the 19th August 2016, the Finance Minister had requested a special report from the Auditor General under section 43 (2) of the Monetary Law Act, within a period […]

Sri Lanka Central Bank blocks taking out of Perpetual profits: Harsha

Jan 25, 2017 (LBO) – Sri Lanka’s Central Bank has blocked Perpetual Treasuries from taking out the company profits for any purpose, Deputy Foreign Minister Harsha de Silva said on Tuesday. Speaking at the bond debate in Parliament, de Silva pointed out that the Central Bank Governor and the Monetary Board has acted in a […]

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