Samurai Bond to support reserves to maintain around USD8Bn throughout 2019: FC

Aug 20, 2019 (LBO) – Sri Lanka’s First Capital Research believes that the raising of 500 million dollars via Samurai Bonds is likely to support to maintain reserves around the 8 billion dollar mark throughout the rest of this year.

As per the Governor of Central Bank, the government will soon issue Request for Proposals to raise 500 million dollars through Samurai bonds, which may boost reserves and enable finance debt repayments.

The tender board must be first approved by the Cabinet and is expected to take approximately 1-2 weeks to get through all the administrative procedures.

Sri Lanka’s gross official reserves were 8,343.9 million US dollars by the end of July, down from 8,864.98 million US dollars in June.