SL to double issuance of development bonds

The cabinet this week approved the plans to double the issuance of Sri Lanka Development Bonds to US $ 3 billion.
Finance Minister Ravi Karunanayake had proposed to increase the limit of issuance of Sri Lanka Development Bonds, including the development bonds to be expired this year.
The cabinet had approved the proposal “considering the low liquidity situation and interest rates of treasury bills and treasury bonds”. Interest rates are expected to go up further in the short term due to the expectations of the US Federal Reserve raising rates couple of times more this year.