Sri Lanka’s Central Bank to sell USD 75mn worth development bonds

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Jan 08, 2016 (LBO) – The Central Bank will issue 75 million US dollars of development bonds of one year, two years and three months, and four years and five months to local and foreign investors.

The Debt Department said the subscription will be at a floating rate of US dollar six month LIBOR plus a margin (floating rate) or at a fixed rate to be determined through competitive bidding.

Minimum investment is 100,000 US dollars with additional investments in multiples of 10,000 US dollars.

The issue will be open for subscription from 11 to 18 January and has a date of settlement of 21 January 2015.

Development bonds are to be issued by the Public Debt Department of Central Bank and exempted from income tax paid in Sri Lanka.

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Nirmalan Dhas
Nirmalan Dhas
6 years ago

I do not want to be a wet blanket, and I certainly want to see this government succeed…BUT given the absence of a clear developmental strategy and a policy network that can drive that strategy and a legislative nexus and regulatory framework that support the implementation of these policies along with the processes and systems and organizations structures required for policy implementation…and no signs of any awareness or acceptance of the need for this…and worse still an increasing attempt to “shape” all the wrong that has been done along with its destruction…I am beginning to feel a bit concerned.

I am aware the Sri Lanka – unlike Singapore, or even America – is a country full of villages…and villages are full of villagers…and villagers think in strange ways that seek to prevent change and preserve the present and if possible travel back to the imagined glories of a distant past. I will not dwell on the circumstances that generated a Singapore and America that are free of villages and villagers…but I am a bit concerned that a refusal and rebellion against the move towards realizing the island potential that arises from its geo strategic location may lead to Sri Lanka also becoming a village free platform.

It is not that I have any great love for villages or for villagers. I am quite comfortable in an apartment perched one hundred stories above the street-line. It is just that I have some idea of how certain – currently very successful – locations became free of villages and villagers and I would not like to be party to such processes of de-villagization even from my distant perch one hundred stories in the sky. I think that the Prime Minister can understand very well what I am saying BUT I am just as sure that most of the other “politicians” who make up the government DO NOT…even the few who are being looked up to as “stars’ of one sort or another.

So I would like to see the hubris being abandoned and a sober team set work on what I have outlined above and the preparation of the population for a hard long haul at high speed in order to reach the highest possible position of vantage by 2030 when the technologies that have driven our civilization so far will be transformed and a new technologically civilization will emerge through the incremental changes being made. If there is no such team to be found then Sri Lanka shall greet 2030, shorn of villages and villagers and colonized by highly functional beings who know no nation as their own and no country as their home, who have very high IQs and who have the skills that enable them to make the island play the role that it was born to play but which its villages could not support and its villagers could not perceive.

So those who wish to borrow under the development banner…please make sure that your development strategy is supported by what I have described. If not your borrowings will become the chain by which the island will be led to the shearing house.

Nirmalan Dhas
Nirmalan Dhas
6 years ago

I do not want to be a wet blanket, and I certainly want to see this government succeed…BUT given the absence of a clear developmental strategy and a policy network that can drive that strategy and a legislative nexus and regulatory framework that support the implementation of these policies along with the processes and systems and organizational structures – including a highly complex intelligence network built by extremely intelligent people – required for policy implementation…and no signs of any awareness or acceptance of the need for this…and worse still an increasing attempt to “shape” all the wrong that has been done along with the destruction it has caused…I am beginning to feel a bit concerned.

I am aware that Sri Lanka – unlike Singapore, or America, or Australia – is a country full of villages, more than thirty thousand (30,000) of them…and villages are full of villagers…and villagers think in strange ways that seek to prevent change and preserve the present and make it the future and if possible travel back to the imagined glories of a distant past. I will not dwell on the circumstances that generated a Singapore and an America and an Australia that are free of villages and villagers…but I am a bit concerned that a refusal and rebellion against the move towards realizing the island potential that arises from its geo strategic location may lead to Sri Lanka also becoming a village free platform.

It is not that I have any great love for villages or for villagers. I am quite comfortable in an apartment perched one hundred stories above the street-line supported by an impersonal cash fed support system that will see me to my grave. It is just that I have some idea of how certain – currently very successful – locations became free of villages and villagers and I would not like to be party to such processes of de-villagization even from my distant perch one hundred stories in the sky. I think that the Prime Minister can understand very well what I am saying BUT I am just as sure that most of the other “politicians” who make up the government DO NOT…even the few who are being looked up to as “stars’ of one sort or another.

So I would like to see the hubris being abandoned and a sober team set to work on what I have outlined above and the conscious preparation of the population for a hard long haul at high speed in order to reach the highest possible position of vantage by 2030 when the technologies that have driven our civilization so far will be transformed and a new technological civilization will emerge through the consolidation of incremental changes that are currently being made. If there is no such team to be found then Sri Lanka shall greet 2030, shorn of villages and villagers and colonized by highly functional beings who know no nation as their own and no country as their home, who have very high IQs and who have the skills that enable them to make the island play the role that it was born to play but which its villages could not support and its villagers could not perceive.

So those who wish to borrow under the development banner…please make sure that your development strategy is supported by what I have described. If not your borrowings will become the chain by which the island will be led to the shearing house.