CB Governor welcomes JPMorgan backing for SL

Friday, 20 May 2022 02:13 - - {{hitsCtrl.values.hits}}

Says this is the best time for foreigners to invest in SL

The Central Bank Governor Dr. Nandalal Weerasinghe yesterday described the JPMorgan statement as a positive and a realistic encouragement.

On Wednesday, JPMorgan Chase and Co., turned overweight on Sri Lanka’s dollar bonds stating that recent events point towards political stability, which could pave the way for discussions with the International Monetary Fund (IMF) and debt restructuring talks.

“It is a good signal about Sri Lanka. I am glad that this statement came from an independent international agency believing in our program, rather than me talking about it,” he responded to a query at the post-Monetary Policy Review media briefing yesterday.

The Governor was of the view that this is the best time for foreign investors to invest in Sri Lanka.

“If the investors believe that the program we are engaging with the IMF and debt restructuring is going to be successful, this is the best time for them to invest in Sri Lanka. They can bring dollars and invest in Government securities or development bonds where we offer a very attractive exchange rate and an interest rate. If they come in now, the return on investment; in my view – is at its best,” Dr. Weerasinghe said.

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