Categories: Articles

LNP – Stop making false allegations against rating agencies: Sajith tells Govt.

The government should stop making false allegations against rating agencies and should seek assistance from international financial agencies and friendly nations to see the nation through the exchange rates issue, Leader of Opposition Sajith Premadasa said yesterday.

Speaking during a public gathering in Hambantota, Mr. Premadasa said the allegations made by the government against Fitch Ratings and questioning the method followed by them to award credit ratings is a joke. “Rating agencies follow scientific methods to award ratings to countries. All the leading nations such as the USA, China, UK and Japan recognise and accept Fitch rating as a professional institution. Therefore, one wonders as to how the Central Bank and the government as a whole reject it,” Mr. Premadasa said.

“Maybe the government thinks that Fitch Ratings and other rating agencies are engaged in manipulating data like it is done in Sri Lanka. Sri Lanka’s foreign reserves have declined to US dollars 1.6 billion as of now. It is actually dollars 1.1 billion when special drawing rights and gold is reduced. Sri Lanka has to settle US dollars 1.3 billion in January 2022. The total average borrowings that has to be settled in 2022 is dollars 6.7 billion. Therefore, one could imagine Sri Lanka’s position. Is it possible to find fault with rating agencies in such a situation?” he asked.

“Government should seek the assistance of international financial institutions and friendly nations to resolve the exchange rate issue,” he added.

Tyronne Jayamanne

Recent Posts

LNP – Lohan Ratwatte and wife further remanded

Former Minister Lohan Ratwatte and his wife have been ordered to be remanded further until…

11 hours ago

LNP – SLAF earns $130 Million through Peacekeeping missions

Another contingent of the aviation unit, consisting of 20 officers and 88 airmen of the…

18 hours ago

LNP – General Election campaigning ends on Monday

The election campaigning activities for the 2024 General Election are scheduled to end at midnight…

18 hours ago

LNP – Rice shortage, price surge fueled by increased beer production?

The Small and Medium Scale Rice Mill Owners’ Association stresses that the growing rice shortage…

18 hours ago

LNP – President Dissanayake congratulates Trump, eyes stronger ties

Sri Lanka’s President Anura Kumara Dissanayake has congratulated the President-elect of the United States Donald…

19 hours ago

LNP – Court to review injunction against e-passport purchase; Ex-President Ranil named respondent

Former President Ranil Wickremesinghe has been named as a respondent of the writ petition filed…

19 hours ago