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By Peter Jaegeul Song
Head of Foreign Cooperation Department – AJA
COLOMBO: The Sri Lankan government criticized the international ratings agency Standard and Poor’s for being “extremely biased” in regard to the decision to downgrade Sri Lanka’s credit rating, Xinhua news of China and Bloomberg news of the U.S. have reported.
On December 11, S&P announced that it had downgraded Sri Lanka’s credit rating from B- to CCC+.
The Sri Lankan Ministry of Finance immediately issued a statement arguing “the decision of S&P is a result of failing to properly analyze our country’s economy” and “is an announcement made in a biased way without understanding Sri Lankan government’s long-term plan for economic development”. ....

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