Inflation ( CCPI)0.9% (May 2024)
GDP5.3% (1Q 2024)
Unemployment4.3% (4Q 2023)
3M T-Bill Rate9.39%
12M T-Bill Rate9.90%
2Y T-Bond Rate10.10%/ 10.20%
4Y T-Bond Rate11.10% / 11.25%
USD/LKR304/305
Reserves $5.4Bn (May 2024)
Cum. Trade Deficit $1,229 Mn (March 2024 cumulative)
Cum. Fiscal DeficitLKR 2,320 Bn (Dec 2023)

Deal on US debt ceiling close as default looms

InternationalMay 26, 2023
Deal on US debt ceiling close as default looms

U.S. President and top congressional Republican Kevin McCarthy are closing in on a deal that would raise the government's USD 31.4 trillion, avoiding a US default. A default could upend global financial markets and push the United States into a major recession.

Credit rating agency DBRS Morningstar put the US on review for a possible downgrade on Thursday, echoing similar warnings by Fitch, Moody’s, and Scope Ratings. Fitch warned it could downgrade the US’s triple-A rating because of the “brinkmanship” over the debt limit. Another agency, S&P Global, downgraded US debt following a similar debt-ceiling standoff in 2011. (Reuters)

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