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.
Charumini DE SILVA
source: Dailynews