Cabinet nod for US $ 1.5bn bond issue

The Cabinet of Ministers has approved a proposal to raise US $ 1.5 billion through a sovereign bond issue to repay loans and manage interest payments.
Sri Lanka estimated the borrowing requirement to cover loan instalments and interest in 2017 is US $ 9.8 billion.
The Central Bank has already announced plans to raise up to US $ 1 billion through a syndicated loan to build the country’s foreign reserves.