CB woos fund managers in S’pore
View(s):The Central Bank (CB) is wooing foreign funds for Sri Lankan sovereign bonds, CB Governor Arjuna Mahendran said. He told the Business Times that during visit to Singapore last Monday, he had met with some existing fund managers and rating agency officials in this regard. Some local fund managers told the Business Times that PIMCO (Pacific Investment Management Co.) which specialises in fixed income securities has been purchasing heavily into local government bonds. ”This was the last leg of the ‘non-deal roadshow’ which started when we went to the US recently. We visited some states in the US and also went to Hong Kong. Singapore was the last stop,” he said.
Mr. Mahendran and his team of central bankers – Deputy Governor Dr. N. Weerasinghe along with Assistant Governors R. Ranasinghe and C. Siriwardene and Chaminda Bandara of CB’s Public Debt Department made up the team to Singapore. They had explained to the fund managers on the reforms on the economic front and how the Constitutional amendments will be carried out. “Now with the IMF on board, they’re more comfortable,” Mr. Mahendran said. The team had met with ratings agencies.