Colombo, Nov 27, 2024 (AFP) - Sri Lanka cuts lending rates after debt deal

NAMPA / AFP

2024-11-27

Sri Lanka's central bank cut its benchmark interest rate Wednesday, after the government agreed to a debt restructure deal with international bond holders. The Central Bank of Sri Lanka said it was moving to a single policy rate set at 8.0 percent, an "effective reduction" of around 50 basis points. The move came a day after the government vowed to honour a deal secured by its predecessor to restructure $12.55 billion in international sovereign b......

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