Sri Lanka Emerges from Debt Default: Finance Ministry Confirms
2024-12-21
The Economic Times on MSN.com
In a significant development, Sri Lanka has officially exited debt default, as confirmed by the Finance Ministry in Colombo. This milestone follows the upgrade of the country's credit rating by Hong Kong-based Fitch Ratings. The move is expected to boost investor confidence and support economic recovery in the island nation, with potential implications for foreign investment and economic growth. Sri Lanka's debt restructuring efforts have been ongoing, and this latest development marks a crucial step forward. The country's financial stability is likely to improve, paving the way for increased economic activity and development, driven by improved credit ratings and financial management.
