Pledges made by Sri Lanka's new president introduces some economic uncertainties said a leading international banking group, Standard Chartered Bank, stating that President Sirisena's manifesto was "perceived as investor unfriendly".
"While the election removes near-term political uncertainty, we believe it also introduces some economic uncertainty," it said in a global report, entitled, 'Sri Lanka - A Change of Guard'.
"Sri Lanka's fiscal deficit is high compared with its 'B-' rated peers and faces a heavy external debt amortization burden of 3.5 billion US dollars in 2015," it added, reported Economy Next.
Sirisena's pre-election comments on cancelling Chinese investment in the Colombo Port City project as well as the casino project proposed by the Australian businessmen James Packer were seen as investor unfriendly Standard Chartered Bank said.
Last year, the UNP party, often portrayed as business friendly, vehemently objected to the Packer's casino project in Sri Lanka, following protests by Buddhist leaders who said it was against the Buddhist religion and culture.
In July 2014, the then opposition leader Ranil Wickremasinghe, who is now Sri Lanka's prime minister warned that the Rajapaksa regime was a threat to the Buddhist clergy.
"The Executive Presidency was also a threat to the Sasana as it was the executive presidency which paved the way to set up casinos and hold night races in the Sacred City of Kandy," Wickremasinghe was quoted as saying.
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"While the election removes near-term political uncertainty, we believe it also introduces some economic uncertainty," it said in a global report, entitled, 'Sri Lanka - A Change of Guard'.
"Sri Lanka's fiscal deficit is high compared with its 'B-' rated peers and faces a heavy external debt amortization burden of 3.5 billion US dollars in 2015," it added, reported Economy Next.
Sirisena's pre-election comments on cancelling Chinese investment in the Colombo Port City project as well as the casino project proposed by the Australian businessmen James Packer were seen as investor unfriendly Standard Chartered Bank said.
Last year, the UNP party, often portrayed as business friendly, vehemently objected to the Packer's casino project in Sri Lanka, following protests by Buddhist leaders who said it was against the Buddhist religion and culture.
In July 2014, the then opposition leader Ranil Wickremasinghe, who is now Sri Lanka's prime minister warned that the Rajapaksa regime was a threat to the Buddhist clergy.
"The Executive Presidency was also a threat to the Sasana as it was the executive presidency which paved the way to set up casinos and hold night races in the Sacred City of Kandy," Wickremasinghe was quoted as saying.
Related articles:
UNP seeks to 'save' Buddha Sasana from Rajapaksa regime (31 Jul 2014)
Casino controversy (22 Oct 2013)