Higher lending rate borrowings imparting on macroeconomic fundamentals - Hakeem

Borrowing from the international financial markets where the lending rate is higher and the repayment period is shorter is putting the country’s macroeconomic fundamentals on a wrong footing, City Planning, Water Supply and Higher Education Minister Rauff Hakeem said.

Speaking during the budget debate in Parliament yesterday, the Sri Lanka Muslim Congress Leader raised his concerns over resorting to float International Sovereign Bonds and Foreign Currency Term Financing Facility to boost external reserves.