Sri Lanka to add Yuan bonds to forex reserve assets

Friday, 04 January 2013 - 11:45

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Central Bank Governor Nivard Cabraal said Sri Lanka will diversify its foreign reserve assets to reflect government debt and Yuan denominated bonds are a candidate.

 

Sri Lanka has borrowings mainly in US dollars, Japanese Yen, Special Drawing Rights and Euro but China has become a large lender over the past five years.

 

Though loans were initially US dollar denominated, over last year several large Yuan denominated loans have been approved.