Fitch expects Sri Lanka’s FX reserves to decline to around USD4.2 bn in 2021 & USD3.4 bn in 2022

Fitch expects Sri Lanka’s FX reserves to decline to around USD4.2 bn in 2021 & USD3.4 bn in 2022

Fitch downgraded Sri Lanka’s rating to ‘CCC’ from ‘B-’ in November 2020, reflecting the sovereign’s increasingly challenging public and external debt position. Fitch Ratings: How Are Sri Lanka’s Fragile External Finances Likely to Hold Up in 2021? The coronavirus shock has exacerbated an already high public debt-to-GDP ratio, and financing options for the sovereign have […]