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Sri Lanka’s credit profile hinges on implementation of IMF reforms – Moody’s

Sri Lanka’s credit profile will depend on how effectively the government will be able to implement a series of reforms laid out by the International Monetary Fund (IMF) said Moody’s Investors Service.

In a new report entitled “Government of Sri Lanka: Reform Implementation Key to Lasting Fiscal, External Improvement from IMF Program”, Moody’s noted that Sri Lanka’s fall in foreign currency reserves and balance of payments crisis was what led to the government seeking IMF intervention.

“Therefore, in Moody’s view… a more durable improvement in the macro-economic and balance of payments pressures will depend on the extent to which authorities can durably reverse the ongoing fiscal deterioration,” reports Lanka Business Online.

The latest report comes as the Associate Director of Fitch APAC Sovereigns Sagarika Chandra said the challenge for Sri Lanka will be to meet criteria laid out before it by the IMF.

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