The Government of Sri Lanka (GoSL) will have to honour maturing Treasury (T) Bills totaling Rs 79,168 million which will have to be paid to the market by the coming Friday (29 April).
Their splits comprise Rs 77,393 million worth of 91-day maturing T Bills and Rs 1,775 million worth of 364-day maturing T Bills, respectively. There are no 182-day maturing T Bills held by the market which the GoSL also has to honour by the coming Friday.
GoSL usually honours such debt repayments by reissuing T Bills to the market by the coming Wednesday (27 April), with settlement by the coming Friday. Such issuances, administered and managed by the Central Bank of Sri Lanka (CBSL), are announced by CBSL by Friday (22 April). At the time of writing CBSL hadn’t made such an announcement. However, T Bills held by CBSL and which are also maturing by next Friday is unknown, as CBSL doesn’t make privy such figures.
Issuing of T Bills and T Bonds is a popular mechanism resorted to by GoSL to raise money from the domestic market to meet its monetary needs.
By Paneetha Ameresekere