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Message: <blockquote data-quote="rocat90" data-source="post: 19928971" data-attributes="member: 452168">Sri Lanka Development Bonds     Finally, let us take the case of Sri Lanka Development Bonds or SLDBs. I  had argued many years ago that this was a misnomer; as SLDBs were  never, or hardly ever used for development purposes. They were used to  repay SLDBs, in particular, coming due; to rollover.     SLDBs are issued locally for those who can invest in USD denominated  debt instruments and the tenor usually ranges from a few months to a few  years. They are typically taken up by local banks and other eligible  parties to receive tax free interest income.      Yes, SLDBs worth $ 2,491 million had been issued in 2015 to roll over  loans taken in the past for the most part and some additional funding.  Total outstanding SLDBs stood at $ 2,984 as at end of 2014. A total of $  2,084 million is due in 2016 and at least that amount would have to be  issued to roll them over unless other funds are found. </blockquote>

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