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June 8, 2016    Reading Time: 2 minutes

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WTO Director General warns against the UK’s exit from the EU. Image credit - pichetw /depositphotos

Reading Time: 2 min read


Sri Lanka to sell sovereign bonds

The Minister of Finance, Ravi Karunanayake, has announced that Sri Lanka has selected four foreign banks as lead managers for the sale of a 10-year sovereign bond, which would raise USD 1.5 billion.

According to the Sri Lankan government, the funds raised would go towards reducing a budget gap and extending short term loans.

Sri Lanka to recognize missing persons

The Cabinet of Ministers has approved draft legislation enabling the issuance of Certificates of Absence to the families of missing persons.

The measure is intended to address a number of practical issues faced by the families of missing persons which have further contributed to their emotional distress.

Central Bank records decline in exports

The Central Bank of Sri Lanka has stated that the year-on-year earnings from exports declined by 1.7% to USD 888 million in February 2016, reflecting lower global commodity prices.

However, the cumulative trade deficit decreased by 10.5% in the first two months of 2016, from USD 1,391 million in the corresponding months of 2015.


Clinton claims presidential nomination

Hillary Clinton has declared victory in the Democratic presidential primary over her party rival, Bernie Sanders. The Sanders campaign rejected that announcement as premature.

Official endorsement of the Democratic presidential candidate will take place at the Democratic National Convention in July 2016. If declared the winner, Mrs. Clinton would become the first female presidential nominee of a major political party in the United States.

WTO warns against Brexit

During a visit to London, the World Trade Organization (WTO) Director General, Roberto Azevêdo, has warned that British business competitiveness will suffer if the UK votes to leave the EU.

Mr. Azevêdo stated that if a British exit occurs, the UK would have to renegotiate its relationship with the rest of the WTO; a process that could take years.

EU boosts aid to limit migrant numbers

The EU has proposed more foreign aid, to help curb the influx of illegal migrants from Africa. This follows an agreement it signed with Turkey in March 2016, also aimed at stemming the inflow of migrants.

The new plan, worth up to EUR 62 billion in aid, involves increasing the EU’s collaboration with nine countries in the Middle East and Africa.

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