COLOMBO (NewsRadio): State Minister of Money & Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal says the government has managed to settle the debt of US$ 1 billion International Sovereign Bond issue yesterday.
State Minister Ajith Nivard Cabraal said the deadline to settle the ISB debt was today.
The State Minister said the government has accordingly honoured its commitments and maintained the confidence of investors.
Meanwhile, Cabinet Spokesperson Minister Keheliya Rambukwella said the government has managed the foreign reserves diligently without impacting the local economy.
Speaking during the weekly Cabinet media briefing in Colombo today, Minister Keheliya Rambukwella said the government was able to honour its debt commitments due to the manner in which it handled the economy.
The Minister said the banks can continue to issue Letters of Credit and facilitate payments for imports from today.
Minister Keheliya Rambukwella noted that Sri Lanka is required to pay another US$ 500 million in January and US$ 1 billion in July next year.
He said Sri Lanka has never defaulted in its payments and the government will ensure that the loans are repaid on time.