SL settles US$ 500mn ISB obligation

Sri Lanka has settled a US$ 500 million International Sovereign Bond (ISB) which matured today.

The announcement in this regard was made by  theCentral Bank Governor Ajith Nivard Cabraal via Twitter message.

There was a growing chorus by a number of economists in the country urging the authorities to default this ISB to save valuable foreign currency for essential imports such as food, fuel and medicine.