Inflation ( CCPI)0.9% (March 2024)
GDP4.5% (4Q 2023)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate10.03%
12M T-Bill Rate10.23%
2Y T-Bond Rate10.85%/ 11.00%
4Y T-Bond Rate12.10% / 12.20%
USD/LKR300/301
Reserves $4.951Bn (March 2024)
Cum. Trade Deficit $860 Mn (Feb 2024 cumulative)
Cum. Fiscal DeficitLKR 2,020 Bn (Nov 2023)

Fitch Downgrades Sri Lanka's LKR debt status from CCC to CC

EconomicsDec 4, 2022
Fitch Downgrades Sri Lanka's LKR debt status from CCC to CC

Sri Lanka continues to service its local-currency debt despite the cost of borrowing for the government has shot from 8% at the start of the year to 30% towards the end of the year. Untenably high domestic interest payment/revenue ratio and tight domestic financing conditions resulted in the rating cut.

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