Sri Lanka's sovereign rating lowered

Sri Lanka's sovereign rating was lowered by Fitch Ratings one notch to B-plus on 3 April, because of rising inflation, a worsening trade balance and a rising fiscal deficit.

However, Ajith Nivard Cabraal, the governor of The Central Bank of Sri Lanka, told reporters from Reuters that the move was unnecessary. "We don't see a need for a downgrading at the moment, because all the risks have been addressed," he said, adding that he did not think investors would "have any concern" over the downgra

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