CBSL debt management criticised; total Bond outstanding at over Rs.4 trillion

CBSL debt management criticised; total Bond outstanding at over Rs.4 trillion

CBSL debt management criticised; total Bond outstanding at over Rs.4 trillion

Written by Lahiru Fernando

28 Apr, 2017 | 9:16 pm

Central Bank’s debt management has been criticised by the CBSL’s former Deputy Director Dr. W.A.Wijewardena

Dr. Wijewardena criticised the CBSL during a questioning at the Presidential Commission of Inquiry. He was questioned on the calculations he made to ascertain the long term loss to the government due to the impugned bond auction.

When asked if the witness misled the 1st COPE appointed to probe the matter, he responded stating that his calculations are correct.

In relation to the Intra-day Liquidity Facility, the witness said that the ILF is to be used to facilitate a payment process and not for investment purposes.

According to a documents presented before the witness, at present there are 60 Treasury Bonds in issue, with a total bond outstanding of rupees four trillion fifty five billion.

Attorney-at-Law Chanaka de Silva presented another document stating the value of the bonds that will mature in 2019 was just over Rs. 400 billion.

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