Sri Lanka aiming to increase foreign reserves to US$ 10 bn by end 2017April 27, 2017, 12:00 pm
Finance Minister Ravi Karunanayake told the media yesterday that a combination of sovereign bonds, a syndicated loan and the forthcoming investment by China in the Hambantota Port will boost Sri Lanka's foreign reserves to US$10 billion by the end of this year.
At present the country's foreign reserves stand at US$ 5.3 billion.
Meanwhile, the government will issue its sovereign bond in June which will be organized by seven lead managers; Citicorp, HSBC, Deutsche Bank, Standard Chartered Bank, Morgan Stanley, a Chinese bank and a Chinese finance corporation. This bond issuance is expected to raise US$ 1.5 billion.Read More...
Last Updated Apr 28 2017 | 07:37 am