INSUBCONTINENT EXCLUSIVE:

limit by Rs

3,450 billion.As such, the borrowing limit for the next fiscal year will be raised from Rs

3,900 billion to Rs

7,350 billion.Addressing the House, the Head of State explained that bank recapitalization and external debt restructuring will require the

issuance of new debt instruments with longer maturities.Therefore, budget allocations are needed to settle the existing debt and the

borrowing limit needs to be increased, he added.

[Sri Lanka] - President proposes to increase borrowing limit by Rs. 3.45 trillion