Sri Lanka dollar bonds extend declines as protests, political crisis continue

Dinuka Liyanawatte

Many dollar bonds are now bidding below 40 cents amid curfews that failed to defuse public anger even after the resignation of President Gotabaya Rajapaksa's elder brother as prime minister

Jorgelina do Rosario, Reuters News

May 11, 2022

SRI LANKA BONDS

PHOTO

Sri Lanka's sovereign dollar bonds fell across the curve with some dropping more than 2 cents in the dollar on Wednesday as protests continue to ripple across the island nation engulfed by a deep economic and political crisis.

The 2026 issue slipped more than 2 cents to 38.6 cents in the dollar, Tradeweb data showed.

Many dollar bonds are now bidding below 40 cents amid curfews that failed to defuse public anger even after the resignation of President Gotabaya Rajapaksa's elder brother as prime minister.

(Reporting by Jorgelina do Rosario, editing by Karin Strohecker)

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