Press briefing of Cabinet Decision taken on 2017-02-14

Issuance of International Sovereign Bonds by the Government

- In accordance with the Appropriation Act for the year 2017, the balance outstanding during the financial year 2017 of the maximum borrowings of the Government stands at Rs.1,579.11 Billion. It has been estimated that the sum necessary for the settlement of loan instalments and interest payments within the year 2017, amounts to Rs.1,480 Billion. Accordingly, the proposal made by Hon. Ravi Karunanayke, the Minister of Finance, for the issuance of International Sovereign Bonds within the total debit limit of the Appropriate Act for the year 2017, with a view to raising funds up to US$1,500, was approved by the Cabinet.