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Friday April 3, 2020 05:31:37
ECONOMYNEXT – Sri Lanka’ President Gotabaya Rajapaksa has met central bank Governor W D Ashman and other officials on forex reserves and confidence building among investors, his office said.
“The President also enquired into the issues connected with the management of Foreign Exchange Budget and external reserves,” his office said in a statement.
“He urged the CBSL officials to maximum confidence building measures are taken for the investors in the Sri Lanka Sovereign Bonds.”
Sri Lanka bond prices fell sharply (interest rates went up) in March 2020 as rate cuts and liquidity injections pressured the rupee raising fears about the ability of the country to repay dollar liabilities.
The central bank had injected about 24 billion rupees in the last week of February 2020 through a profit transfer, another 50 billion on March 13 and more than 50 billion rupees through a reserve ratio cut on March 17.
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