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Moody's says terrorist attacks will hit Sri Lanka's GDP growth

Moody Investors Service says that lower tourism arrivals and spending following the April 2019 terrorist attacks will hit GDP growth and add further pressure to public and external finances, global rating agency in a new report said Sri Lanka (B2 Stable) faces numerous domestic and external obstacles that will pose challenges to the government's ability to refinance its large upcoming debt obligations lowering their 2019 real GDP forecast to 2.6 percent from the previous estimate of 3.4 percent based on prospects for lower tourism arrivals and spending. Moody's explores the implications of the country's financing needs and options, the recent terrorist attacks and upcoming elections for Sri Lanka's credit profile.The primary challenge facing Sri Lanka is its large external debt refinancing needs over the next five years, with over $3 billion principal payable annually on external government debt over 2020-2024,......................

 

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Helpline 1090
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