LNP – CBSL Chief allays fears of default, forced forex conversion

The Central Bank Governor Nivard Cabraal yesterday allayed unfounded fears over a sovereign default or bankruptcy and said it had set aside $ 500 million for upcoming redemption of International Sovereign Bonds.

“CBSL has allocated the required #Forex for the USD 500 million #ISB that is maturing on 18 Jan 22. It’s a shame that some #investors lost out becoz of organized negative stories spread by certain vested interests,” Cabraal tweeted yesterday.

Separately, he also denied claims by some that foreign currency deposits are being forcibly converted to rupees.

“Rumors spread by some mischievous elements that Sri Lankan #banks have been ordered by

@CBSL to forcibly convert balances in their customers’ #Forex accounts are totally false,” Cabraal added.

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