Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the td-cloud-library domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/gazldsmh/newsnow.lk/english.newsnow.lk/wp-includes/functions.php on line 6122
Central Bank says Sri Lanka economy is winning confidence - NewsNow - English

Central Bank says Sri Lanka economy is winning confidence

Date:

NEWSNOW | COLOMBO – Central Bank says political stability is essential for sustained growth and development in the country.

Issuing a statement, in response to concerns expressed regarding the performance of the Sri Lankan economy in recent days, the CBSL said foreign sentiment signals confidence in Sri Lanka’s economic performance and potential.

An International Sovereign Bond (ISB) amounting to $ 2.5bn (the largest ever) was successfully issued. It was 2.6 times over-subscribed. Large orders were placed by some of the world’s largest and most reputed investment funds.

With the receipt of ISB proceeds, gross official reserves have increased to $ 9.9bn which is historically the highest level.

There has been a very favourable response to the RFP for a term loan of $ 1bn. The Government is considering upscaling this loan and to utilize the incremental proceeds to repay more expensive existing debt.

Despite outflows from emerging markets in the wake of normalization of US interest rates as well as synchronized growth in US, Europe and Japan for the first time since the Global Financial Crisis, there have been net cumulative inflows both to the stock market as well as the rupee-denominated Government Securities market.

There have been foreign portfolio investments in equity, through primary and secondary market investment in the Colombo Stock Exchange to the tune of $ 9. 6mn to-date in 2018. In 2017, inflows amounted to $ 278.5mn.

Net inflows into the Government Securities market amounted to $ 6.05mn so far this year. In 2017, net inflows amounted to $ 441mn.

FDI flows of $ 1.9bn in 2017 were an all-time record, albeit from a low base.

Share post:

Latest News

Popular

More like this
Related

Social Justice Party Demands Immediate Revocation of Hijab Ban for Muslim Women Health Workers in Trincomalee

The Social Justice Party has strongly condemned a recent...

Riyadh to Host 5th Saudi Media Forum: Global Media and Tech Giants to Gather Under Royal Patronage

By- Khalidh Rizwan The bustling capital of Saudi Arabia is...

Colombo Magistrate’s Court Acquits Accused in 2008 White Van Assault Case

The Colombo Magistrate’s Court No. 3, presided over by...

Sri Lanka Ambassador Explores Digital Economy Partnership with Riyadh-Based Digital Cooperation Organization

Sri Lanka's Ambassador to the Kingdom of Saudi Arabia,...