Facebook icon
Twitter icon
e-mail icon

Foreigners continue to exit Colombo Stock Exchange

With Sri Lanka's political crisis ongoing, foreign selling and exiting from the Colombo Stock Exchange continued at a staggering rate. 

Over Rs3 billion was sold on Monday, prompting the UNP's state minister for economic affairs, Harsha de Silva to tweet, "Once again massive dumping of shares by foreign investors from #SriLanka stock market. Over LKR 3 billion today. Where is the confidence the #FakePM said they brought in? #CoupLK @RW_UNP"

Sri Lanka plunged into political crisis last month after the president sacked the prime minister, Ranil Wickremesinghe and appointed the former president, Mahinda Rajapaksa, who oversaw the killing of tens of thousands of Tamils in 2009, as premier. 

The International Monetary Fund (IMF) stated it was “monitoring the situation closely”

Last month the ratings agency Moody's expressed concern over Sri Lanka, stating the political crisis was credit negative. 

Moody's warned the country may struggle to refinance external debt at an affordable rate early next year.