Ratings Agencies Add to Sri Lanka’s Political Woes

SriLankaPoster, cc Flickr Vikalpa | Groundviews | Maatram | CPA, modified, https://creativecommons.org/licenses/by/2.0/

Summary

The political and economic difficulties are piling up for Sri Lanka.

Not even a month removed from the outbreak of a constitutional crisis triggered by President Maithripala Sirisena’s sudden dissolution of parliament, rating agencies Standard & Poor and Fitch have both downgraded Sri Lankan debt.

The downgrade is a serious problem for a country faced with a daunting external debt repayment schedule over the next three years.

 

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