 of the value of the Government of Sri Lanka (GoSL) administered EPF as at last year end (2022)){kind=link}
Rs 2,964 billion or 85.7 per cent (nearly Rs three trillion) of the value of the Government of Sri Lanka (GoSL) administered EPF as at last year end (2022), which total value as at end 2022 was Rs 3,724 billion, according to the recently released 2022 Central Bank of Sri Lanka (CBSL) Annual Report, have been invested in Treasury (T)-Bonds, extrapolation of CBSL and Finance Ministry data showed.
Meanwhile, the Finance Ministry in a statement last Thursday (4 May) said that in GoSL’s domestic debt restructuring programme only Treasury (T)-Bills held by the CBSL, also known as money printing and T-Bonds will be liable.
The Ministry also said that GoSL’s total T-Bond liabilities as at end 2022 stood at Rs 8,722 billion (USD 24 billion). It further said that 42.7 per cent of GoSL’s T-Bond liabilities as at end 2022 was held by superannuation funds.
Meanwhile, CBSL’s 2022 Annual Report said, “The EPF continued to dominate the Superannuation sector, accounting for 79.6 per cent of total assets of the sector at end 2022.” Consequently, upon extrapolation of these statistics, the above Rs three trillion in value of EPF’s T-Bond investments as at end 2022 is derived. GoSL’ is expected to reveal its domestic debt restructuring plan during the course of this month (May).
In related developments, CBSL’s 2022 Annual Report further said, “The size of the EPF compared to the size of the Sri Lankan capital and financial market, provided limited investment opportunities, making EPF to commit its investments mostly towards Government securities. Such high dependence on the Sovereign has created some risk to the EPF in an environment of possible domestic debt optimisation.”