Global credit rating agency Moody’s has issued a report stating that Sri Lanka’s economic recovery is largely on track, but that there are several factors that are hindering it, the report further states.
The report, which provides further information on Sri Lanka’s economy, cites the country’s high debt burden, limited fiscal space and continued dependence on foreign financial assistance as key risks to economic growth.
However, Moody’s says that the economic recovery has received a significant boost due to financial reforms, strong tourism revenues and growth in foreign remittances. The comments came after a periodic review of Sri Lanka’s credit rating.