The Cabinet has approved proposals for the issuance of Sri Lanka Development Bonds and International Sovereign Bonds under the Public Borrowing Program 2018.
The Sri Lankan Government said that the maximum borrowing limit for 2018 is LKR 1,893 billion and LKR 1,313 billion out of them will be obtain from local sources and LKR 580 billion from foreign sources.
The Cabinet decided to undertake the Development Bonds issue under the supervision of Central Bank of Sri Lanka for obtaining USD 3,000 million (Approximately LKR 456 billion) for the Year 2018. It was also decided to obtain funds up to USD 2,000 million through issuing International Sovereign Bonds in year 2018.
Both proposals were put forward by Finance and Mass Media Minister Mangala Samaraweera.