Hirunews Logo
Sri+Lanka+holds+rates%2C+state+guarantee+for+gold-backed+loans
Tuesday, 20 May 2014 - 11:44
Sri Lanka holds rates, state guarantee for gold-backed loans
15

Shares
1,852

Views
Sri Lanka's Central Bank held policy rates at 6.5 and 8.0 percent with private credit showing positive growth in March, and said a government credit guarantee would be available for gold backed loans.

Gold-backed loans from banks have contracted after gold prices fell and borrowers defaulted making banks more cautious to lend.

In March commercial banks had increased rupee denominated loans to private borrowers by 15.3 billion rupees but some repayments of dollar borrowings foreign invested firms, reducing the total to 7.6 billion rupees.
Make a Comment
Make a Comment

DOWNLOAD HIRUNEWS APP ON ANDROID & APPLE