Fitch was constantly updated on imminent foreign exchange inflows Earnings from merchandise exports recorded an all time high in October 2021 Indices of the Colombo Stock Exchange reached historical highs Prospects for workers’ remittances are bright Fitch appears to have completely ignored the standby SWAP facility with PBOC of around USD 1.5 billion Fitch Ratings […]
Sri Lanka s central bank disputed a downgrade of the sovereign credit to CC from CCC amid more reserve losses, as the soft-pegged monetary authority lost reserves at a pace faster than earlier expected by the agency.
Downgrading Sri Lanka’s international sovereign rating resembles the recent unwarranted downgrade by Moody’s Investors Service a few days prior to the announcement of the National Budget 2022, Sri Lanka's Central Bank said.
Releasing a statement the bank said the sense of urgency on the part of a
Fitch Ratings (Fitch), in a rather hasty move, downgraded Sri Lanka’s international sovereign rating on 17 December 2021, demonstrating its failure to recognise the positive developments taking place in Sri Lanka, in an environment in which the entire world is grappling with multiple waves of the COVID-19 pandemic. This action resembles the recent unwarranted downgrade.
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