gossip vilanguwa, Gossip King, gossipking lk, gossip king gosip, gossip king reaport, gossip king, gosssip time, gossip srilanka, gossip kings, nethfmvilanguwa
lanka fashion lanka fashion lanka fashion lanka fashion lanka fashion

Advertisement

Paid Ads - gossip vilanguwa

lanka fashion

will car sales in customs


12 January 2016

Sri Lanka turns to mystery investor in bid to defend Rupee

An unidentified investor has promised to park $1 billion in dollar deposits in Sri Lanka to help the island nation defend its currency, the finance minister told Reuters, in an unusual move that highlights the country’s precarious finances.
 Finance Minister Ravi Karunanayake declined to reveal the identity of the investor. But he said the investor was Belgian and was working with a Sri Lankan partner.
The investor has promised to transfer the money in two equal tranches from banks in Brussels and Luxembourg, the minister said.
 “Instead of going for bonds and other borrowing, we are permitting it to take place,” Karunanayake said.
 “This is better than negative returns in Europe”, for investors, he said.
 The deposits, which pay an interest rate of 2 percent, are part of the ministry’s plans to raise $3 billion to $4 billion to shore up reserves and defend the rupee, which has hovered around record lows since the central bank floated it on September 4.
 Sri Lanka has run up a large budget deficit, forcing the government to borrow heavily and putting pressure on the rupee.It is now also battling a growing balance-of-payments crisis.

Photo Gallery


lanka fashion lanka fashion lanka fashion lanka fashion lanka fashion lanka fashion lanka fashion lanka fashion lanka fashion lanka fashion lanka fashion lanka fashion lanka fashion lanka fashion lanka fashion lanka fashion lanka fashion lanka fashion lanka fashion lanka fashion