Gazette on international sovereign bonds

The Government yesterday moved the Extraordinary Gazette notification of 27 February permitting the Government to issue international sovereign bonds during this year and to make any payments in relation to such issuance for non-resident investors.

The Gazette signed by Finance Minister Mangala Samaraweera has been issued in par with the regulations made under Section 29 read with Section of the Exchange Control Act No.12 of 2017.

In January, the Central Bank of Sri Lanka (CBSL) issued a request on proposals from investment banks to sell up to $ 2 billion in international sovereign bonds as the Government readies to repay $ 5.9 billion in debt this year.According to the CBSL, the approved international sovereign bonds program for 2019, the Government intends to issue Sovereign Bonds in dollars, yen, renminbi and euro. (AH)