Sri Lanka allocated US$ 500 mn to repay international sovereign bonds

  Sri Lanka has already set aside US$500 million to repay the international sovereign bond maturing in January. 18, central bank Governor Ajith Nivard Cabraal tweeted on Wednesday. "CBSL has allocated the required USD 500 million maturing on 18 January 2022. It's a shame that some investors lost out because of organised negative stories spread by certain vested interests," the governor tweeted. Sri Lanka has to repay nearly US$ 4.5 billion in 2022, starting with the US$500 million in January. Fitch Ratings on December 18 downgraded Sri Lanka's sovereign rating to 'CC' from 'CCC', citing a growing risk of debt default in 2022. The move was contrary to central bank assurances that measures are underway to meet all repayments.