Sri Lanka Economists Oppose Government’s Allocation of $500 Million for Maturing Bond Repayment

Sri Lanka Economists Oppose Government’s Allocation of $500 Million for Maturing Bond Repayment
A general view of the Chinese-managed terminal of the Colombo port is seen from the Galle Face promenade in Colombo, Sri Lanka on Feb. 2, 2021. Ishara S. Kodikara/AFP via Getty Images
|Updated:

Sri Lanka’s government has set aside $500 million for maturing bond repayment, Central Bank Governor Ajith Nivard Cabraal said on Jan. 5, a move that some economists believe is a mistake given the country’s foreign currency shortage to pay for imports.

Cabraal announced on Twitter that $500 million has been allocated for an international sovereign bond maturing on Jan. 18, but some economists opposed the move, urging the government to instead restructure its debt.
Aldgra Fredly
Aldgra Fredly
Author
Aldgra Fredly is a freelance writer covering U.S. and Asia Pacific news for The Epoch Times.
Related Topics