Sri Lanka, Pakistan discuss cross-investing forex reserves in government bonds: Minister - EconomyNext
Sri Lanka, Pakistan discuss cross-investing forex reserves in government bonds: Minister - EconomyNext Sri Lanka, Pakistan discuss cross-investing forex reserves in government bonds: Minister - EconomyNext Posted: 25 Feb 2021 05:29 AM PST Thursday February 25, 2021 18:46 ECONOMYNEXT – Sri Lanka and Pakistan had discussed the possibility of cross-investing foreign reserves in each others' sovereign bonds during a visit of Prime Minister Imran Khan to the island, State Minister for Money and Capital Markets, Nivard Cabraal said. "We have been investing foreign reserves in Western government bonds at low rates about 1.5 percent," Cabraal told reporters in Colombo. "They are also investing in various instruments in the Western world. They are also generating 1.5 percent, just like us. Sometimes it makes sense to invest in theirs (bonds) and for them to invest in ours. ""But we borrow at high rates. When we gi...