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The Investor Sentiment - Equity and investments forum for Sri Lankans

The Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSEThe Lankan Investor Forum - A more respectable and reasonable place for members to discuss matters regarding the CSE

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Latest topics

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» Should I Stick Around, or Should I Follow Others' Lead?
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    Moody's says political crisis credit negative for Sri Lanka

    The Invisible
    The Invisible


    Posts : 3116
    Join date : 2016-11-28
    Age : 45

    Moody's says political crisis credit negative for Sri Lanka Empty Moody's says political crisis credit negative for Sri Lanka

    Post by The Invisible Mon Oct 29, 2018 3:58 pm

    ECONOMYNEXT - Moody's Investors Service, a rating agency said Sri Lanka's political crisis is credit negative and the sudden appointment of Mahinda Rajapaksa as Prime Minister has increased uncertainty.

    "The current political crisis in Sri Lanka is credit negative for the sovereign," Matthew Circosta, Analyst, Sovereign Risk Group, Moody’s Investors Service said in a statement.

    "The President’s sudden appointment of Mr Rajapaksa as Prime Minister significantly heightens policy uncertainty."

    "Additionally, the possible social tensions that may unfold in the next few weeks would have a negative impact on the economy, which is already growing slowly.

    "And at a time when global financial markets are turbulent, uncertainty about the direction of future policy could have a large and lasting negative impact on international investor confidence.

    "Such a development would undermine Sri Lanka’s ability to refinance forthcoming external debt in early 2019 at affordable costs."

      Current date/time is Wed Dec 11, 2024 2:45 am