Sri Lanka prints Rs.115.6 bn in April as economic crisis continues


Sri Lanka has printed Rs 6.55 billion this week, pumping a total of Rs 115.62 billion into the market in April, central bank data showed.

The government has printed Rs. 223.64 billion so far this year, among which Rs 220.4 billion had been printed after the COVID-19 virus started spreading since March 13.

Sri Lanka continues to deal with an economic crisis after a treasury bill auction to raise Rs 30 billion this week also went undersubscribed with Rs 23.3 billion coming from investors.

The three-month bills were sold at 6.75 percent, six-month bills at 6.80 percent, and 12-month bills at 7.00 percent, all unchanged from last week, according to the monetary authority.

Government securities which stood at Rs.78.01 billion on March 12 have skyrocketed to Rs. 298.38 billion April 30, the central bank said.

A 62 million dollar auction of Sri Lanka Development Bonds too went undersubscribed last Wednesday with only bids worth USD 18 million coming from investors.