CBSL avoid massive money printing as they raised LKR 84Bn at second phase of the auction

CBSL failed to raise the targeted LKR 120Bn in the first phase of the Primary Bill action and managed only to sell LKR 45.6Bn. But a mammoth amount of LKR 83.8Bn of bids was received at the second phase which helped CBSL to avoid money printing today.

The announcement of the Paris club on financing assurances for Sri Lanka to obtain the rescue package from the IMF has renewed hope among investors. The news came after the end of the first phase of the primary auction.