Sri Lanka’s foreign exchange pile rose for the first time in five months, likely due to deferment of payments to India under an Asian Clearing Union, even as the nation scrambles for credit lines to ease shortages. The stockpile rose to $1.92 billion at the end of […]
Lankan
Rising risk of Sri Lankan banks defaulting on their obligations: S&P
There is a rising risk of Sri Lankan banks defaulting on their obligations, especially those in foreign currency, including deposits and trade finance products, rating agency Standard & Poor’s said on Friday. This trend is expected to persist until the sovereign’s external situation stabilises, which may take […]