Moody’s downgrades Sri Lanka

 Dawn

September 30, 2020

Moody’s on Monday downgraded Sri Lanka’s sovereign credit rating by two notches, saying the South Asian nation would be hard-pressed to secure funding to service its huge foreign debt.

Sri Lanka was pushed down from “B2” (high credit risk) to “Caa1” (very high credit risk), as the coronavirus pandemic compounded its economic woes, Moody’s said in a statement.

“Moody’s expects government liquidity and external risks to intensify, as the government’s external debt service payments amount to approximately $4 billion (annually) between 2020 and 2025,” it said.

Reference: https://www.dawn.com/news/1582201?ref=whatsapp

Comments

Post a Comment

Popular posts from this blog

US 'will never allow' Iran to have a nuclear weapon: Mike Pence

The Economic Times Jan 22, 2018 US Vice President Mike Pence vowed on Monday in an address to the Israeli parliament that Washington would never allow Iran to develop a nuclear weapon.  "I have a solemn promise to Israel, to all the Middle East and to the world - the United States of America will never allow Iran to acquire a nuclear weapon," Pence said to applause from Israeli MPs.  The 2015 deal that was meant to curb Iran's nuclear capabilities was fiercely opposed by Israel, but backed by then-President Barack Obama.  His successor Donald Trump has fiercely criticised the agreement, accusing Tehran of not sticking to it and saying it still allows the Islamic republic to support terrorist organisations across the globe - including Israel's longstanding enemies.  Earlier this month, Trump again waived nuclear-related sanctions - as required every few months to stay in the agreement - but demanded European partners work with Washington to imp...
Read more

Govt allows lateral hiring of experts, 10 top posts on offer

Daily Hunt June 10, 2018 In a bid to infuse domain expertise in key government departments, the department of personnel and training has started the process of lateral hiring. In a newspaper advertisement issued on Sunday, the department invited applications from Indian nationals having expertise in sectors such as revenue, financial services, economic affairs, agriculture, infrastructure and commerce. The move is aimed at bringing in specialized talent in various government departments, contributing to better governance. State government officers in similar positions, officials in public sector undertakings, autonomous bodies, universities, research institutes and those working in private sector companies, consultancies and multinational firms with a minimum of 15 years experience are eligible to apply. This is a pilot project and has received the approval of the Union cabinet, a person familiar with the development said on condition of anonymity. A total o...
Read more

CAG offers Bofors files for review: MoD to House panel

August 17, 2017, Anand Mishra The Office of the Comptroller and Auditor General (CAG) has told the Defence Ministry that it may come and scrutinise 30 volumes of its files related to the Bofors gun deal, Defence Secretary Sanjay Mitra told the Public Accounts Committee on Tuesday, sources said. The Defence Secretary, consequently, has asked for a month’s time to return to the PAC to submit Action Taken Notes (ATN) on two paragraphs of the CAG report that had highlighted alleged irregularities in the purchase of the guns. Incidentally, the Ministry hasn’t submitted the ATN to the PAC in the last 27 years since the CAG report was made public in 1990 — an issue on which PAC member BJP leader Nishikant Dubey as well as sub-committee chairman BJD’s Bhartruhari Mahtab had repeatedly questioned the Defence Ministry. “The question that was asked today to the Defence Secretary was that when will they submit the ATNs. The Defence Secretary sought time till mid-September. The mi...
Read more