Central Bank to raise Rs 2.5 bn from bond issue : Foreign reserves to reach US$ 7.5 bn by year end

Saturday, 11 February 2017 - 17:30

Central+Bank+to+raise+Rs+2.5+bn+from+bond+issue+%3A+Foreign+reserves+to+reach+US%24+7.5+bn+by+year+end

The Central Bank has sought Cabinet approval to raise 2.5 billion US dollars in 2017 from a sovereign bond issue of 1 billion US dollars, and a syndicated loan of 1.5 billion US dollars.

Reports state, that these fund inflows the country could expect its foreign reserves to reach 7.5 billion US dollars by the end of this year.

The governor said that the economy was responding to the stabilization measures adopted by the Central Bank and the government.



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