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5 billion dollars this year after gauging the outcome of meetings with the International Monetary Fund, a central bank official said.
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Sri Lanka will hold discussions with the IMF in March and April on a support facility for its balance of payments, and for an endorsement of the government's plan for fiscal consolidation.
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In December, a central bank official said Sri Lanka could raise up to 1.5 billion dollars this year in line with borrowings last year. Sri Lanka raised 1.5 billion dollars in a 10-year sovereign bond issue in October with a coupon of 6.85 percent for budgetary financing and to increase foreign reserves.
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This was Sri Lanka’s ninth US Dollar benchmark as well as the largest offering in the international bond market since 2007.
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After ending a war with Tamil Tiger separatists in 2009, the island has increasingly gone to international markets for its borrowing program.