Thursday, 18 June 2020 07:32

Government to raise USD 500 million to finance Vote on Account

The Government of Sri Lanka (GOSL) intends to raise a Foreign Currency Term Financing Facility (FTFF) denominated in United State Dollars (USD) up to a limit of USD 500 million in 2020, the Ministry of Finance said yesterday.

The FTFF is expected to be raised at a fixed rate or a floating rate, linked to the USD 6 Month LIBOR or its successor with a maturity period of 1 year or more.

The proceeds of the FTFF will be used for the purposes of financing the expenditure as approved in the Vote on Account for the Fiscal year 2020. (Colombo Gazette)

 

 

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