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Central Bank subscribes to LKR 90 billion in treasury bills

The Central Bank of Sri Lanka (CBSL) subscribed to Treasury bills (T-bills) amounting to LKR 90 billion in January 2019, at the request of the Treasury, to assist financing needs of the government due to the delay in receiving expected foreign currency financing arrangements as envisaged in the Treasury’s cash flow for the month of January 2019. 

The Monetary Board has acceded to the Treasury’s request in the national interest and under exceptional circumstances, the Central Bank said in a statement.

"Having reviewed the macroeconomic consequences of subscribing to T-bills by the CBSL, the Government has agreed to reverse part of the transaction in February and the balance during the first quarter of 2019 once the Government's borrowing programme is brought back on track with realisation of expected financial arrangements," the Central Bank said.

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