The current political crisis in Sri Lanka is credit negative for the sovereign (status), rating agency, Moody’s Investors Service said on Monday.
“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,” it said in a statement adding that a fuller statement would be issued later in the day.- ENDS-
A Sri Lankan man was apprehended at Suvarnabhumi airport for attempting to smuggle wildlife out of the country after three ball pythons were found hidden in his underwear, the Bangkok post reported.
Read these and more on tomorrow’s edition of the Sunday Times
Leave Comments