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

 
Update
11

1 day ago

Chandimal, Mendis dropped for Pakistan Tests

Jul 31 2014 2:00pm CDT | Source: The Nation - Pakistan

Colombo - Sri Lanka have left out wicketkeeper-batsman Dinesh Chandimal and spinner Ajantha Mendis from their 15-man squad for the Pakistan Tests starting next week. Fast bowler Nuwan Pradeep returns to the squad after missing the recent South Africa Test series due to injury and youngster Niroshan Dickwella keeps his place as wick ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
10

1 day ago

Between the devils and a hard place

Jul 31 2014 10:55am CDT | Source: Business Standard

Early in his travels across Sri Lanka, Samanth Subramanian stops at a school outside Kandy, a few hours' drive from Colombo, where police have called a meeting of local residents. When he asks what the meeting is about, he is told it is ...
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Update
9

4 days ago

Lankan Navy arrests 50 fishermen

Jul 29 2014 2:08am CDT | Source: Business Standard

Fifty fishermen from Nagapattinam and Karaikal have been arrested by the Sri Lankan Navy personnel for allegedly fishing near the La ...
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Update
8

4 days ago

South Africa: Sri Lanka Vs. South Africa - Five Things We Learned From the Second Test

Jul 29 2014 2:03am CDT | Source: AllAfrica.com

[Daily Maverick]Another backs-against-the-wall Test, another great escape. South Africa won a Test series for the first time in over two decades after a gritty draw against Sri Lanka in Colombo. ANTOINETTE MULLER picks five k ...
Source: AllAfrica.com   Full article at: AllAfrica.com
 

 
Update
7

4 days ago

Sarfraz urges players to focus on fitness

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

ISLAMABAD - Former Test cricketer Sarfraz Nawaz has urged the national players to work on their physical fitness keeping in mind the tough weather conditions of Sri Lanka in August. Pakistan will play two Tests and three ODIs against Sri Lanka starting next month. Talking to APP, Sarfraz said: “It was a good decision of the Pakis ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
5

4 days ago

South Africa draw Test, jump to number one

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

COLOMBO - A gritty South African tail fought off Sri Lanka’s spinners to snatch a nerve-jangling draw in the second Test and seal a historic 1-0 series win. The series victory propelled South Africa to the top of world Test ranking ahead of Australia and also ended their 21-year-old jinx on the island. It was their first series win in Sri Lanka since 1993 when they first toured the country ... ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
4

4 days ago

South Africa draw Test, jump to number one

Jul 28 2014 10:39am CDT | Source: Business Day

A gritty South African tail fights off Sri Lanka’s spinners to snatch a nerve-jangling draw in second Test and seal a historic 1-0 serie ...
Source: Business Day   Full article at: Business Day
 

 
Update
3

4 days ago

Devendro enters quarters, Shiva ousted from CWG

Jul 28 2014 9:49am CDT | Source: Business Standard

Devendro made the quarterfinals after notching up a tough 2-1 victory over Sri Lanka ...
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Update
2

5 days ago

Sri Lanka's Test debutant Dickwella fined

Jul 27 2014 2:00pm CDT | Source: The Nation - Pakistan

COLOMBO:-Sri Lanka's debutant wicketkeeper Niroshan Dickwella was Sunday fined 10 percent of his match fee for claiming an unfair catch on day three of the ongoing second Test against South Africa. The 21-year-old player was found guilty of conduct that is either "contrary to the spirit of the game" or "brings the game into disrepute", the International Cricket Council said in a news release. ... ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
1

5 days ago

Sangakkara stars for Sri Lanka

Jul 27 2014 2:00pm CDT | Source: The Nation - Pakistan

COLOMBO - Kumar Sangakkara and skipper Angelo Mathews struck brisk half-centuries to help Sri Lanka set up a thrilling finale to the series-deciding second Test against South Africa on Sunday. Sangakkara (72) hit his tenth 50-plus score of the year and Mathews chipped in with an unbeaten 63 as the hosts declared their second innings on 229-8 shortly before close of play to set the visitors an ... ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 

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