The Associate Director of Fitch APAC Sovereigns Sagarika Chandra said the challenge for Sri Lanka will be to meet criteria laid out before it by the International Monetary Fund, at a presentation delivered last week.
The Sri Lankan government still must refinance a figure close to 3 billion US dollars for the rest of the year and still remains vulnerable to shifts in investor sentiment said Fitch Ratings.
Lanka Business Online reported Ms Chandra as stating, “from a rating stand point key drivers of ratings are really progress on the IMF program and certain degree of predictability with policies.”
“The real challenge is meeting the IMF criterion and that is something we are still waiting to see,” she added.
Earlier this year Fitch downgraded Sri Lanka’s Long-Term IDR following deteriorating external finances and a dwindling economy.
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