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Foreign borrowing limit by companies lifted

Dec 13, 2011 5:53:48 AM - srilankamirror.com

(Srilankamirror) - The Central Bank has lifted a foreign borrowing limit by companies to 50 million US dollars from 20 million.

The exchange control unit of the bank has also lifted a rate cap on debentures and also slashed the tenor to two years from five.

"These new procedures are expected to support the currently expanding economic activities which require alternative financing sources at a competitive cost," LBO said quoting a CB statement.