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Sri Lanka’s Fitch Credit Rating has been downgraded 7 times during the last 7-years (May 2015 – May 2022)
Sri Lanka’s credit rating has been downgraded 7 times over the course of 7 years. 5 of those downgrades occurred since April 2020. In contrast, its regional peers have maintained their credit ratings. The recent downgrade to RD (Restricted Default) on the 19th of May 2022 was immediately after the lapse of a one month grace period for an ISB coupon payment that was not paid on the 18th of April.
Featured Insight
Sri Lanka’s Fitch Credit Rating has been downgraded 7 times during the last 7-years (May 2015 – May 2022)
Sri Lanka’s credit rating has been downgraded 7 times over the course of 7 years. 5 of those downgrades occurred since April 2020. In contrast, its regional peers have maintained their credit ratings. The recent downgrade to RD (Restricted Default) on the 19th of May 2022 was immediately after the lapse of a one month grace period for an ISB coupon payment that was not paid on the 18th of April.
Featured Insight
Sri Lanka’s Fitch Credit Rating has been downgraded 7 times during the last 7-years (May 2015 – May 2022)
Sri Lanka’s credit rating has been downgraded 7 times over the course of 7 years. 5 of those downgrades occurred since April 2020. In contrast, its regional peers have maintained their credit ratings. The recent downgrade to RD (Restricted Default) on the 19th of May 2022 was immediately after the lapse of a one month grace period for an ISB coupon payment that was not paid on the 18th of April.
Featured Insight
Sri Lanka’s Fitch Credit Rating has been downgraded 7 times during the last 7-years (May 2015 – May 2022)
Sri Lanka’s credit rating has been downgraded 7 times over the course of 7 years. 5 of those downgrades occurred since April 2020. In contrast, its regional peers have maintained their credit ratings. The recent downgrade to RD (Restricted Default) on the 19th of May 2022 was immediately after the lapse of a one month grace period for an ISB coupon payment that was not paid on the 18th of April.
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Highlights from the Appropriation Bill for 2024
In the Appropriation Bill for 2024, key ministries such as Finance, Defense, Health, Education, Transport, and Highways witness an increase in their allocations. The Ministry of Finance experienced the largest year on ye...
2023-10-13
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Highlights from the Appropriation Bill for 2024
The Appropriation Bill for Budget 2024 indicates an increase in allocated expenditure from LKR 5854 bn in 2023 to LKR 6563 bn in 2024. Interest payments saw a 20 percent rise, from LKR 2189 bn in 2023 to LKR 2634 bn. In comparison with actua...
2023-10-09
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Highlights from the Appropriation Bill for 2024
The Appropriation Bill for 2024 was presented to Parliament on the 5th of October, ahead of the budget speech in November.The Appropriation Bill shows that there is a 12%...
2023-10-06
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Amendments to the Appropriation Bill Increases Government Expenditure for 2022
The Amendment to the Appropriation Bill for 2022 was presented to Parliament ahead of the interim budget speech. The amended bill shows a 20% increase in expenditure to...
2022-08-24
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Allocation of Government Expenditure for 2022 as per Appropriation Bill
The appropriation bill for 2022 was presented to the parliament on the 7th of October 2021 The draft bill sho...
2021-10-29
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