International Sovereign Bonds: JVP demands explanation

News

Janatha Vimukthi Peramuna (JVP) Leader Anura Kumara Dissanayake today insisted that the Finance Minister and State Finance Minister should explain to Parliament how the Central Bank had gone for an International Sovereign Bond (ISB) issue at a far higher interest rate than other countries in the region and beyond.

By Sandun Jayawardana

Speaking during the debate on the Budget's Second Reading, Mr Dissanayake revealed that the Central Bank had recently issued a 5-year ISB of USD 1 Billion at the interest rate of 6.85% and a 10-year ISB of USD 1.4 billion at an interest rate of 7.81%.

This is in marked contrast to similar recent ISBs of other countries in the region and beyond, including Vietnam (4.78%), Thailand (2.51%) and Greece (3.84%).

The JVP Leader questioned as to how come Sri Lanka issued ISBs at such a high interest rate when even Greece, which was on the verge of collapse due to a financial crisis, had issued them at a much lower interest rate.

"It is the people of this country who have to bear the burden of this. They are the ones who will be paying. There are now suspicious transactions even when obtaining loans. The Finance Minister and State Finance Minister owes this Parliament an explanation as to why ISBs were issued at such a high interest rate," he stressed.

Comments

Still No Comments Posted.

Leave Comments

Most Reviews

May 31, 2025

- 482 - 0

Flt Lt Kasun Cumaratunga , more than a pilot, a guardian remembered on his 37th death anniversary

Kasun, was born in 28th Sept 1964, the grandson of the legendary author and linguist Munidasa Cumaratunga and son of SSP Bindu Kumaratunga and Winifred

June 2, 2025

- 449 - 0

National Tax week launched

The Inland Revenue Department (IRD) backed by the Excise and Customs Department today launched a fresh drive to collect taxes including some Rs.780 billion listed as ‘collectable defaults’.

June 2, 2025

- 354 - 0

SriLankan Airlines’ new A330 Fleet to perform low fly past over Colombo on Wed.

May 29, 2025

- 262 - 0

Mahindananda and Nalin Fernando Jailed

Former Sports Minister Mahindananda Aluthgamage and former Sathosa Chairman Nalin Fernando have sentenced to 20 and 25 years respectively after they were found guilty in a case of fraud.

May 30, 2025

- 259 - 0

In Pix: Weather situation in Colombo

June 3, 2025

- 193 - 0

Krishanthi Kumaraswami convicts FR dismissed by SC

The Supreme Court today unanimously dismissed a Fundamental Rights petition filed by five convicts in the 1996 Krishanthi Kumaraswamy abduction, rape, and murder case.