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#SriLanka finance ministry refuses to accept Fitch downgrade

Sri Lanka’s Finance ministry has reacted strongly and said that it doesn’t accept the Fitch Ratings downgrade of Sri Lanka today.

Issuing press release the ministry of finance says that it has failed to “recognize the robust policy framework of the new government for addressing the legacy issues, including the concerns raised by Fitch Ratings, and ensuring ongoing economic recovery and macroeconomic stability of the country.”

Fitch Ratings has downgraded Sri Lanka from B- to CCC today.

In response to the rating agency decision, the ministry of finance says rating is based on uncorroborated facts sans due consideration given recent economic and policy developments.

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