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Monday, 03 March 2014 - 11:24
Sri Lanka credit to SOEs surge in December.
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Sri Lanka's credit from commercial banks to state enterprises surged to 57 billion rupees in December 2013, ending four months of net pay downs of debt, as a drought worsened in the country hitting hydro power.

Credit to state enterprises surged to 365 billion rupees in December 2013 from 308 billion rupees in November 2013, after coming steadily down from 368.2 billion in July.

Key state borrowers from Sri Lanka's bank in the past included the Ceylon Electricity Board and Ceylon Petroleum Corporation which in turn gives credit to the CEB to run losses and subsidize energy.

 
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