360° Coverage : Sri Lanka's peace dividends have waned: rating agency

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Sri Lanka's peace dividends have waned: rating agency
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Sri Lanka's peace dividends have waned: rating agency

Jul 23 2013, 4:18am CDT | by IANS

Colombo, July 23 (IANS) International rating agency Moody's Investors Service said Tuesday that the policies of the Sri Lankan government have stabilized, although benefits from the post-civil war peace dividend have waned.

Colombo, July 23 — International rating agency Moody's Investors Service said Tuesday that the policies of the Sri Lankan government have stabilized, although benefits from the post-civil war peace...

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1 year ago

Sri Lanka's peace dividends have waned: rating agency

Jul 23 2013, 4:18am CDT | by IANS

Colombo, July 23 (IANS) International rating agency Moody's Investors Service said Tuesday that the policies of the Sri Lankan government have stabilized, although benefits from the post-civil war peace dividend have waned.

Colombo, July 23 — International rating agency Moody's Investors Service said Tuesday that the policies of the Sri Lankan government have stabilized, although benefits from the post-civil war peace dividend have waned.

Moody's assessment was contained in its annual "Credit Analysis Sri Lanka" which assesses economic strength as low, institutional strength as moderate, government financial strength as low and susceptibility to event risk as moderate, reported Xinhua.

Sri Lanka's B1 sovereign bond rating reflects Moody's methodological assessment of these factors.

In July, Moody's revised the outlook on the sovereign rating to stable, from positive.

"The latest report is an update and does not constitute a rating action," Moody's said.

The report notes that while economic growth has slowed, to 6.4 percent in 2012 from an average of 8.1 percent in 2010 and 2011, the previous faster pace of growth was accompanied by an overheating of the economy.

The slowdown is primarily a result of the implementation of adjustment reforms in early 2012.

"Looking ahead, Moody's projects that growth will be 6 percent to 7 percent in 2013 and 2014. At this pace, inflation should remain in the single digit range, although the policies of the government will likely continue to have a growth bias," the report added.

Furthermore, although government debt has declined after the end of the nearly three-decade long civil war in 2009, debt reduction has stalled in the past two years and government bond yields widened in both nominal and real terms, as the fiscal payoffs from the peace dividend have dissipated.

Moody's expects the government debt to Gross Domestic Production (GDP) ratio to touch 80 percent in 2013 and 78 percent in 2014, broadly unchanged since 2011 and compared with 86 percent in 2009.

IANS

Source: IANS

 
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11

18 hours ago

China’s Xi holds talks with Sri Lankan president

Sep 16 2014 2:00pm CDT | Source: The Nation - Pakistan

COLOMBO - China’s President Xi Jinping held talks Tuesday with his Sri Lankan counterpart, seeking to strengthen defence ties with the strategically located Indian Ocean nation that could provoke unease in neighbouring India. China is increasingly asserting its influence in Sri Lanka, a midway point on one of the world’s busiest international shipping lanes. It is already the largest ... ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
10

1 day ago

Maldives promises Chinese president support for his modern ‘Silk Road’ initiative

Sep 15 2014 10:18am CDT | Source: Canadian Business Online

MALE, Maldives – Chinese President Xi Jinping began a weeklong tour of South Asia on Monday, choosing the tiny island nation of the Maldives to tout his vision for a modern maritime “Silk Road.” Maldives President Yameen Abdul Gayoom said his country was ready to participate actively in the initiative to create a shipping route from China to Europe via West Africa. Smaller Indian Ocean nations like the Maldives and Sri Lanka could become key stops along s ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
Update
9

5 days ago

Rashid slams Waqar, Mushtaq for not handling Ajmal issue

Sep 11 2014 2:00pm CDT | Source: The Nation - Pakistan

Karachi - Former Pakistan captain Rashid Latif Wednesday slammed chief coach Waqar Younis and spin coach Mushtaq for not handling Saeed Ajmal and exposing too much during series against Sri Lanka. “To be fair, I think Saeed Ajmal should not have played at all in the 2-Test match series against Sri Lanka,” he said in statement issued here. He also blamed Pakistan late coach Bob ... ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
8

2 weeks ago

Pakistani bating line collapses again

Aug 30 2014 8:06am CDT | Source: The Nation - Pakistan

Colombo- With a dismal performance in a decisive one-day international against Sri Lanka, Pakistani bating line collapsed again; all out for 102. Pakistan captain Misbah-ul Haq won the toss and chose to bat in the third ODI in Dambulla today. All batsmen were out in 32.1 overs. Nine wickets fell at 88 and the final wicket collapsed ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
7

2 weeks ago

River Kwai film bridge to be rebuilt

Aug 29 2014 1:18pm CDT | Source: BBC News

Sri Lanka is to rebuild the replica bridge destroyed in an iconic scene from the film Bridge on the River Kwai, ...
Source: BBC News   Full article at: BBC News
 

 
Update
5

2 weeks ago

Ajmal’s suspect action: PCB prepared for worst

Aug 28 2014 2:00pm CDT | Source: The Nation - Pakistan

KARACHI - Pakistani cricket authorities are prepared for the worst possible scenario in the Saeed Ajmal bowling action case. An official in the Pakistan Cricket Board (PCB) said on Wednesday that Ajmal had joined the Pakistan squad in Sri Lanka for the final one-day international. "We have been told we will be informed about the findings of his bow ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
4

3 weeks ago

All-round Perera shatters Pakistan

Aug 26 2014 2:00pm CDT | Source: The Nation - Pakistan

HAMBANTOTA - Thisara Perera smashed 65 off 36 balls and then grabbed three wickets as Sri Lanka thumped Pakistan by 77 runs in the second one-dayer on Tuesday to level the three-match series 1-1. Sri Lanka recovered from 194-6 to post a commanding 310-9 in their 50 overs after electing to bat, before dismissing Pakistan for 233 in 43.5 overs in the day-night match in Hambantota. Pakistan had ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
3

3 weeks ago

TESO pats Modi, calls for political solution in Sri Lanka

Aug 26 2014 4:40am CDT | Source: Business Standard

Tamil Eelam Supporters Organisation (TESO), headed by DMK president M Karunanidhi, today lauded the Narendra Modi regime for coming forward to find a political solution for the Tamils issue in Sri Lanka and urged the Centre ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
2

3 weeks ago

Muthoot Finance picks up 30% stake in Lankan NBFC for $ 2.1 million

Aug 25 2014 8:54am CDT | Source: Business Standard

Facing growth headwinds following regulatory tightening, leading pure-play gold financier Muthoot Finance today announced branching out to neighbouring Sri Lanka by acquiring a 30 per cent stake in Asia Asset Finance for USD 2.1 ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
1

3 weeks ago

Sri Lanka vs. Pakistan, 2nd ODI: Where to Watch, Preview and Betting Odds

Aug 25 2014 7:09am CDT | Source: IBTimes UK

Sri Lanka face Pakistan in the second ODI on Tuesday. Find out how to follow the match liv ...
Source: IBTimes UK   Full article at: IBTimes UK
 

 

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