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Tremendous response from foreign investors:
Central Bank raises over $ 250 million in TBs and bonds
Charumini DE SILVA
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The Central
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“With the dawn of peace there is a tremendous response from foreign
investors for Treasury Bonds and Treasury Bills. During the past three
months, the Central Bank of Sri Lanka (CBSL) raised more than US$ 250
million.
The confidence among foreign investors about the country’s macro
economy program has build and we hope that this will remain in the
future as well”, a senior official of the Central Bank of Sri Lanka told
Daily News Business.
“Bonds worth US$ 175 million are maturing this month. The CBSL will
re-issue bonds worth US$ 150 million in the near future. The issue of
bonds will increase the foreign exchange inflow of the country’s
economy”, he said.
“When there is a bond issue most Sri Lankan investors seize a lead on
it. Since the world economy is also recovering from the effects of
global recession we will have a great response from foreign investors
for the forthcoming US$ 150 million bond issue”, he said.
“The CBSL offered bonds worth US$ 50 million during June and raised
US$ 125 million. There was a very good response from the local investors
and the CBSL hopes this momentum will continue in the future as well”,
he said.
“The IMF standby facility is similar to a guarantee for the
international community to demonstrate that the country’s macro economy
program is on the right path. At present, we see the excellent response
from foreign investors with the approval of the IMF standby facility.
There were many inquiries especially from foreign investors and the Sri
Lankan diaspora who are keen on investing. The CBSL is confident that
the country’s financial system will have an overall improvement and that
will help us to stabilize the economy in the future”, he said.
Highlights:
* Good response from investors
* CBSL raised $ 125 m in June
* Overall improvement anticipated
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