Sri Lanka hits back at ratings downgrade

By Pan Yue
30 Nov 2020

The Sri Lankan ministry of finance has responded to a Fitch rating downgrade by saying that the country does not ‘accept’ the decision, and has in place a policy framework to tackle its debt obligations and spur economic growth.

Fitch downgraded Sri Lanka to CCC last Friday, its second such move this year after bumping the sovereign down to B- from B in April. The agency said in a press release that the latest downgrade reflects the country’s external debt repayment pressure. It expects Sri Lanka to ...

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