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Sri Lanka pays back $ 1bn Sovereign Bond on time despite political crisis

Sri Lanka maintaining his track record of debt payments paid back a US$ 1 billion International Sovereign Bond borrowed during the previous government yesterday (January 14).In a statement Finance Minister Mangala Samaraweera said despite the disruptions of the 51-day coup, the government maintained its unblemished record of debt repayment and repaid the 2014 International Sovereign Bond amounting to US$ 1 Billion on time.In January 2014 Mahinda Rajapaksa government borrowed USD 1 billion at 6.00% interest rate via an International Sovereign Bond.Non-cabinet Minister Dr. Harsha de Silva said such International Sovereign Bonds have to be fully paid back in one installment and the government has to pay more such debt............

 

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