Sri Lankan central bank blasts rating agency assessment

sri-lanka

The Central Bank of Sri Lanka on June 20 labelled a banking sector assessment from rating agency Standard & Poor's (S&P) as "factually incorrect, illogically analysed and highly contradictory".

S&P had on June 19 released a statement assigning Sri Lanka an economic risk score of eight, which equates to a 'very high risk' assessment for economic resilience and credit risk in the country and puts the economy in the same bracket as Nigeria, Tunisia and Kazakhstan.

Furthermore, the banking industry

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