Sri Lanka’s Finance Minister and Central Bank Governor dismissed the recent downgrading of Sri Lanka’s ratings by global ratings agency Fitch Ratings, reports Economynext.com
Speaking to reports in Colombo, Sri Lanka’s finance minister Ravi Karunayake said,
“That’s only one institution. These are only perceptions of certain institutions.”
Fitch ratings lowered Sri Lanka’s ratings from ‘BB-‘ to ‘B+’ stating that Sri Lanka faced “increased refinancing risks on account of high upcoming external debt maturities on foreign exchange reserves” and an increased “likelihood of Sri Lanka requiring external liquidity support from the IMF and other multilateral institutions.”
The rating agency added that Sir Lanka’s budget did little to address the of Sri Lanka’s gross general government debt (GGGD).
Sri Lanka to hold discussions with IMF in March-April (29 Feb 2016)
IMF and Sri Lanka 'hammering out a way forward' from debt (26 Feb 2016
Sri Lankan govt considers IMF bailout conditions (16 Feb 2016)
Sri Lanka's budget based on 'overly optimistic' presumptions warns Fitch (04 Dec 2015)
‘IMF have come to help us’ says Sri Lankan finance minister (12 Sep 2015)
Sri Lanka to reapply for $4 billion IMF bailout amidst deficit anxiety (30 Aug 2015)
Economic policy and stability of Sri Lanka's coalition remain unclear - Fitch Ratings (19 Aug 2015)
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