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    Sri Lanka to settle $500 mln bond maturing on Thursday - officials Featured

    January 21, 2015

    Sri Lanka will draw on its foreign currency reserves to settle a five-year $500 million sovereign bond maturing on Thursday, central bank officials said, a move analysts say would put pressure on interest rates and the rupee.

    The officials said the authorities had opted against rolling over the issue.

     

    "It'll be paid from the reserves," a central bank official told Reuters. Another official confirmed the move.

     

    Foreign currency reserves fell by $474.33 million to $7.37 billion in the last two months of 2014, central bank data shows.

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