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Sri Lanka looking to raise capital overseas.

Global Banking News-31 July 2009-Sri Lanka looking to raise capital overseas(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 31 July 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Sri Lanka is planning to raise about USD500m from overseas investors.

The country is to use the money to rebuild itself. It had earlier received a loan from the International Monetary Fund (IMF) to shore up its finances.

The central bank governor in Sri Lanka said, 'We will take a decision in the next few weeks. We did an investor update in many parts of the world. We are here in India today to see whether there is appetite for syndicated loans, sovereign bonds.'

The IMF had last week approved a USD2.6bn loan to help Sri Lanka rebuild and replenish its foreign-exchange reserves.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Date:Jul 31, 2009
Words:160
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