Feb 15, Colombo: Sri Lanka's cabinet of ministers has given its approval for the government to issue international sovereign bonds up to US$ 1.5 billion.
A cabinet statement said that according to the Appropriation Bill 2017 the balance outstanding of government's maximum borrowings for the financial year 2017 is Rs. 1,579.11 billion.
It has been estimated that Rs. 1,480 billion is required for payment of loan instalments and interest in 2017.
Accordingly, the Cabinet of Ministers has approved the proposal made by Minister of Finance Ravi Karunanayake to issue international sovereign bonds for obtaining funds up to US$ 1.5 billion.