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Central Financial institution blames Moody’s for downgrading Sri Lanka as a state getting ready to chapter



Moody’s Worldwide Credit standing company has mentioned that Sri Lanka’s skill to repay its sovereign bonds, or bonds issued in US {dollars}, has additional declined.

Accordingly, Moody’s downgraded Sri Lanka from Caa1 to Caa2 in its credit standing.

It mentioned the exterior liquidity danger for the Sri Lankan authorities would stay excessive over the following few years and that the ranking was a part of a assessment launched on July 19.
Accordingly, Sri Lanka has come near bankrupt states.

Nonetheless, the Central Financial institution of Sri Lanka responded by saying that Moody’s had reached this evaluation on the mistaken time.

The Central Financial institution has additionally expressed remorse over the report, which challenges the nation’s financial viability at a time when the Sri Lankan authorities is making ready to current its price range.





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