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Feb 22, 2017

Govt. plans sale of Samurai bonds Featured

The government is reportedly planning a sale of Japanese Yen-denominated securities also known as 'Samurai' bonds.

Reports say the government has had talks in this regard with three Japanese banks.

'Samurai bonds' are sold in the Japanese domestic market by foreign entities.

It is alleged a big loss will be caused when converting the invested Yen to dollars for local requirements.

Also, it will be a violation of conditions Sri Lanka has reached with the IMF.

The second regional country to obtain a loan from the IMF after Afghanistan, Sri Lanka has already violated three of the conditions laid down by the global lending institution, economists say.

A year ago, finance minister has prevented a Japanese bank named Nomurai to invest in Samurai bonds in Sri Lanka.

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