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The first Masala bond was issued by the World Bank-backed IFC in November 2014 when it raised ₹10 billion (10,00 crore) in bonds to fund infrastructure projects in India. In August 2015, the IFC, for the first time, issued green masala bonds and raised ₹3.15 billion to be used for private sector investments that address climate change in India.
The bond scam is also regarded as the largest reported financial scam in Sri Lanka despite the country's reputation of having a solid visionary banking system over the years. [ 2 ] [ 3 ] This was a major blow to the Sri Lankan economy and was also major setback to the newly elected government under the leadership of Maithripala Sirisena which ...
The Central Bank of Sri Lanka was established in 1950, two years after independence. The founder governor of the Central Bank of Sri Lanka was John Exter, while the minister of finance at the time was J. R. Jayewardene. Under the former name of Central Bank of Ceylon, it replaced the Currency Board that until then had been responsible for ...
(Reuters) -Sri Lanka is weighing U.S. bribery accusations against Adani Group and Fitch put some company bonds on a watch list for a possible downgrade, as fallout widens from indictments of some ...
Sri Lanka's sovereign rating was progressively downgraded and the country was locked out of capital markets and was unable to roll-over maturing sovereign bonds. [10] [11] The IMF in its 2021 Article IV Consultations report concluded that Sri Lanka's public debt was unsustainable.
The history of Sri Lanka is unique because its relevance and richness extend beyond the areas of South Asia, Southeast Asia and the Indian Ocean. The early human remains which were found on the island of Sri Lanka date back to about 38,000 years ago ( Balangoda Man ).
Sri Lanka has also sought an additional $500 million line of credit from India, and began negotiating a credit line of $1.5 billion. Sri Lankan minister of finance Ali Sabry has stated "We are a neutral country. We are a friend to all." [10] In May 2022, Sri Lanka defaulted on its debt for the first time in the country's history. [12]
Sri Lanka is historically famous for its cinnamon. The 'true cinnamon' tree, or Cinnamomum verum , used to be botanically named Cinnamomum zeylanicum to reflect its Sri Lankan origins. This is a widely utilized spice in Sri Lanka, and has a more delicate, sweet taste in comparison to Cinnamomum cassia , which is more common in some other ...