brand logo

Sri Lanka bonds set to gain most in Asia as reserve funds sought

30 Aug 2021

Sri Lanka’s volatile dollar bonds are set to jump the most in Asia this month after its central bank unexpectedly raised interest rates earlier in August, in a move that may help boost the country’s foreign exchange reserves, BNN Bloomberg reported. But default concerns remain for the notes, with S&P Global Ratings last week cutting the outlook on its junk CCC+ ratings for the country to negative, citing risks that attempts to boost reserves may fall short of the Government’s expectations. The dollar notes gained 2.9% in August, the biggest increase across Asia, according to a Bloomberg index. The bonds had been falling for the month until the rate hike on 19 August, and they were the worst performers in the previous two months. The debt fell 0.1% on Friday (27) after the S&P move. Any increase in reserves totaling $ 2.8 billion at the end of July would help Sri Lanka address debt maturities next year totaling $ 1.5 billion. The nation has already used a part of that stockpile to repay $ 1 billion of bonds last month. (BNN Bloomberg)

Kapruka

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Automobile, Mother and Baby Products, Clothing, and Fashion. Additionally, Kapruka offers unique online services like Money Remittance, Astrology, Medicine Delivery, and access to over 700 Top Brands. Also If you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.Send love straight to their heart this Valentine's with our thoughtful gifts!

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Automobile, Mother and Baby Products, Clothing, and Fashion. Additionally, Kapruka offers unique online services like Money Remittance, Astrology, Medicine Delivery, and access to over 700 Top Brands. Also If you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.Send love straight to their heart this Valentine's with our thoughtful gifts!


More News..