The Governor of the Central Bank Dr. Nandalal Weerasinghe said Sri Lanka’s sovereign rating upgrade by Fitch Ratings from ‘CCC+’ to ‘B-’ with a Stable Outlook reflects ongoing progress in macroeconomic stabilization and reforms.
Speaking at the 49th Annual General Meeting of the Association of Development Financing Institutions in Asia and the Pacific (ADFIAP) on September 23, Dr. Weerasinghe stated that the restoration of stability following the severe economic crisis has provided a stronger foundation for the country’s next development phase.
“This progress has also been recognised by the upgrade of Sri Lanka’s sovereign rating by Fitch Ratings to ‘B-’ from ‘CCC+’, with a Stable Outlook, announced yesterday, reflecting the continued progress in macroeconomic stabilisation and reforms,” he added.
Dr. Weerasinghe added that the focus now centers on shifting from stability toward sustainable investment, higher productivity and long term economic growth. (Newswire)
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