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Government Stabilizes 1.5% of the ISB Interest Rate.

Resulting an increase of 1.5% in the interest rate on International Sovereign Bonds (ISBs), the forming of a 52-day illegitimate Government has amounted a loss of Rs. 6.4 Billion in the recent issue of ISBs, Finance Minister, Mangala Samaraweera said yesterday.

An irate Minister Samaraweera lambasted the former president and now opposition leader, Mahinda Rajapaksa and his party for creating this jeopardy.

The issuance of ISB’s by Sri Lanka at a higher interest rate compared to low rates at which bonds were issued by Thailand and Greece at the same period was questioned by the Opposition and JVP leaders last week.

Furthermore, when asked how confident is he in achieving the 4.4 percent budget deficit this year Samaraweera said he is confident of achieving the target with a team of experts and a well thought out plan.

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