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Foreign selling in bonds hits Rs 10.8 billion

Foreign investors sold Rs 10.8 billion in the week up to May 8, bringing the total foreign investor bonds to Rs 143.7 billion.

The high outflow follows the Easter Sunday suicide bombings by Islamist extremists, targetting luxury hotels popular with tourists and business people, as well as churches. 

Sri Lanka's economy had already been struggling following the president's sudden sacking of the prime minister last year and his decision to unilaterally dissolve parliament. 

The International Monetary Fund this week agreed to extend its funding programme for Sri Lanka by a further year until June 2020.