Written by Staff Writer
25 Aug, 2018 | 6:50 pm
Colombo (News 1st) – Sri Lanka is among seven emerging and frontier market sovereigns Moody’s analytics have identified as most vulnerable to dollar appreciation.
According to the report compiled by Moody’s, Sri Lanka is recognized as “most vulnerable” to rising global interest rates.
The report examines the countries that have been worst hit by tightening financial conditions this year.
According to the report, in Sri Lanka, while foreign exchange reserves have increased over the past year, pressure on the country will likely persist, as external debt repayment requirements increase materially in 2019-22.
Moody’s said the government’s gross borrowing requirement of about 18.5% of GDP and foreign currency composition of outstanding debt at about 46% also contribute to making Sri Lanka one of the sovereigns that are most sensitive to tightening external financing conditions.
The report says, similar to Pakistan, Sri Lanka’s debt affordability would weaken further.
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