Sri Lanka to halve foreign holdings in govt securties to 5pc

Reuters . Colombo | Update:

Sri Lanka plans to restrict foreign holdings of government securities to a maximum 5 per cent from the current 10 per cent, the governor of the Central Bank of Sri Lanka said on Wednesday.

"In view of the increased volatility in global financial markets, we also intend to reduce the threshold for foreign investment in rupee denominated Government securities from 10 per cent of the outstanding Government securities stock at present to 5 per cent," Governor Indrajit Coomaraswamy said.

   
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