{"id":54742,"date":"2020-12-20T10:29:20","date_gmt":"2020-12-20T10:29:20","guid":{"rendered":"https:\/\/websitedesigns.com.au\/elankanew\/?p=54742"},"modified":"2020-12-20T10:30:51","modified_gmt":"2020-12-20T10:30:51","slug":"sp-downgrades-sl-on-debt-servicing-risks-outlook-stable","status":"publish","type":"post","link":"https:\/\/websitedesigns.com.au\/elankanew\/sp-downgrades-sl-on-debt-servicing-risks-outlook-stable\/","title":{"rendered":"S&#038;P downgrades SL on debt servicing risks, outlook stable"},"content":{"rendered":"<h1 class=\"innerheader\" style=\"text-align: center;\"><span style=\"color: #000080;\">S&amp;P downgrades SL on debt servicing risks, outlook stable<\/span><\/h1>\n<p><strong><span style=\"font-size: 20px; color: #800000;\">Source:<\/span><\/strong><span style=\"color: #000000;\"><a style=\"color: #000000; font-size: 20px;\" href=\"http:\/\/www.ft.lk\/front-page\/S-P-downgrades-SL-on-debt-servicing-risks-outlook-stable\/44-710123\" target=\"_blank\" rel=\"noopener noreferrer\">FT<\/a><\/span><\/p>\n<ul>\n<li style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000000;\"><strong>Govt. revenue expected to decline to below 10% of GDP<\/strong><\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000000;\"><strong>Economy projected to contract 0.3% before rebounding with 4.6% growth in 2021<\/strong><\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000000;\"><strong>External position to deteriorate, current account deficit to grow to 3.4%<\/strong><\/span><\/li>\n<li style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000000;\"><strong>Debt to balloon to 195% of reserves and external assets\u00a0\u00a0<\/strong><\/span><\/li>\n<\/ul>\n<hr \/>\n<p style=\"text-align: justify;\"><span style=\"font-size: 20px; color: #000000;\">Standard &amp; Poor Global Ratings yesterday downgraded its long-term foreign and local currency sovereign credit ratings on Sri Lanka to B- from B, citing a deterioration in the country\u2019s already weak fiscal position amid an expected economic contraction.<\/span><\/p>\n<p><span style=\"font-size: 20px; color: #000000;\">Issuing a statement, S&amp;P said the country\u2019s fiscal position weakened in 2019 as the Easter Sunday attacks affected economic activity and tourism earnings. Expenditures rose due to security-related and election spending while tax cuts led to a fall in revenue, the rating agency noted.<\/span><\/p>\n<p><span style=\"font-size: 20px; color: #000000;\">\u201cWith COVID-19 dampening domestic economic activity and lower excise duty earnings due to broad import restrictions, we now expect that government revenues will decline to below 10% of GDP in 2020,\u201d said S&amp;P Global Ratings, which sees Sri Lanka\u2019s fiscal deficit rising to 8% of GDP in 2020 from 6.8% in 2019.<\/span><\/p>\n<p><span style=\"font-size: 20px; color: #000000;\">Net general Government debt is forecast to exceed 90% of GDP in 2020 and stay at an elevated level, according to the rating agency.<\/span><\/p>\n<p><span style=\"font-size: 20px; color: #000000;\">Sri Lanka\u2019s economy is projected to contract 0.3% in 2020 amid the pandemic, the weakest pace of growth since the country\u2019s civil war ended. Real GDP is expected to rebound with 4.6% growth in 2021.<\/span><\/p>\n<p><span style=\"font-size: 20px; color: #000000;\">The economy\u2019s external position is also expected to deteriorate, with the current account deficit estimated to expand to 3.4% of GDP in 2020 from 2.2% in 2019. External debt net of official reserves and financial sector external assets is expected to rise \u201csharply\u201d to 195% in 2020 amid subdued exports.<\/span><\/p>\n<p><span style=\"font-size: 20px; color: #000000;\">The outlook on the country is stable, reflecting its access to ample resources to repay debt obligations.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S&amp;P downgrades SL on debt servicing risks, outlook stable Source:FT Govt. revenue expected to decline to below 10% of GDP Economy projected to contract 0.3% before rebounding with 4.6% growth in 2021 External position to deteriorate, current account deficit to grow to 3.4% Debt to balloon to 195% of reserves and external assets\u00a0\u00a0 Standard &amp; [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"aside","meta":{"footnotes":""},"categories":[20],"tags":[13619],"class_list":{"0":"post-54742","1":"post","2":"type-post","3":"status-publish","4":"format-aside","6":"category-articles","7":"tag-covid-19","8":"post_format-post-format-aside"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>S&amp;P downgrades SL on debt servicing risks, outlook stable<\/title>\n<meta name=\"description\" content=\"Govt. revenue expected to decline to below 10% of GDPEconomy projected to contract 0.3% before rebounding with 4.6% growth\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"S&amp;P downgrades SL on debt servicing risks, outlook stable\" \/>\n<meta property=\"og:description\" content=\"Govt. revenue expected to decline to below 10% of GDPEconomy projected to contract 0.3% before rebounding with 4.6% growth\" \/>\n<meta property=\"og:url\" content=\"https:\/\/websitedesigns.com.au\/elankanew\/sp-downgrades-sl-on-debt-servicing-risks-outlook-stable\/\" \/>\n<meta property=\"og:site_name\" content=\"eLanka\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/eLanka.com.au\/\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-20T10:29:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-12-20T10:30:51+00:00\" \/>\n<meta name=\"author\" content=\"eLanka admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"eLanka admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/sp-downgrades-sl-on-debt-servicing-risks-outlook-stable\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/sp-downgrades-sl-on-debt-servicing-risks-outlook-stable\/\"},\"author\":{\"name\":\"eLanka admin\",\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/#\/schema\/person\/f6e635b74ab35ef88a68a9973cacc5bd\"},\"headline\":\"S&#038;P downgrades SL on debt servicing risks, outlook stable\",\"datePublished\":\"2020-12-20T10:29:20+00:00\",\"dateModified\":\"2020-12-20T10:30:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/sp-downgrades-sl-on-debt-servicing-risks-outlook-stable\/\"},\"wordCount\":311,\"publisher\":{\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/#organization\"},\"keywords\":[\"Covid 19\"],\"articleSection\":[\"Articles\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/sp-downgrades-sl-on-debt-servicing-risks-outlook-stable\/\",\"url\":\"https:\/\/websitedesigns.com.au\/elankanew\/sp-downgrades-sl-on-debt-servicing-risks-outlook-stable\/\",\"name\":\"S&P downgrades SL on debt servicing risks, outlook stable\",\"isPartOf\":{\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/#website\"},\"datePublished\":\"2020-12-20T10:29:20+00:00\",\"dateModified\":\"2020-12-20T10:30:51+00:00\",\"description\":\"Govt. revenue expected to decline to below 10% of GDPEconomy projected to contract 0.3% before rebounding with 4.6% growth\",\"breadcrumb\":{\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/sp-downgrades-sl-on-debt-servicing-risks-outlook-stable\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/websitedesigns.com.au\/elankanew\/sp-downgrades-sl-on-debt-servicing-risks-outlook-stable\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/sp-downgrades-sl-on-debt-servicing-risks-outlook-stable\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/websitedesigns.com.au\/elankanew\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Articles\",\"item\":\"https:\/\/websitedesigns.com.au\/elankanew\/category\/articles\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"S&#038;P downgrades SL on debt servicing risks, outlook stable\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/#website\",\"url\":\"https:\/\/websitedesigns.com.au\/elankanew\/\",\"name\":\"eLanka\",\"description\":\"eLanka - Sri lanka events in Australia\",\"publisher\":{\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/websitedesigns.com.au\/elankanew\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/#organization\",\"name\":\"eLanka\",\"url\":\"https:\/\/websitedesigns.com.au\/elankanew\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2020\/03\/elanka-logo.jpg\",\"contentUrl\":\"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2020\/03\/elanka-logo.jpg\",\"width\":192,\"height\":82,\"caption\":\"eLanka\"},\"image\":{\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/eLanka.com.au\/\",\"https:\/\/www.linkedin.com\/in\/elanka\/\",\"https:\/\/www.youtube.com\/user\/SriLankanDownUnder\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/#\/schema\/person\/f6e635b74ab35ef88a68a9973cacc5bd\",\"name\":\"eLanka admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/websitedesigns.com.au\/elankanew\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/2e0d346a7f97b80e861cdeafe7b7de523b59f5060666f1a5da8369457bf9b6c3?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/2e0d346a7f97b80e861cdeafe7b7de523b59f5060666f1a5da8369457bf9b6c3?s=96&d=mm&r=g\",\"caption\":\"eLanka admin\"},\"sameAs\":[\"https:\/\/websitedesigns.com.au\/elankanew\"],\"url\":\"https:\/\/websitedesigns.com.au\/elankanew\/author\/elanka\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"S&P downgrades SL on debt servicing risks, outlook stable","description":"Govt. revenue expected to decline to below 10% of GDPEconomy projected to contract 0.3% before rebounding with 4.6% growth","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"S&P downgrades SL on debt servicing risks, outlook stable","og_description":"Govt. revenue expected to decline to below 10% of GDPEconomy projected to contract 0.3% before rebounding with 4.6% growth","og_url":"https:\/\/websitedesigns.com.au\/elankanew\/sp-downgrades-sl-on-debt-servicing-risks-outlook-stable\/","og_site_name":"eLanka","article_publisher":"https:\/\/www.facebook.com\/eLanka.com.au\/","article_published_time":"2020-12-20T10:29:20+00:00","article_modified_time":"2020-12-20T10:30:51+00:00","author":"eLanka admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"eLanka admin","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/websitedesigns.com.au\/elankanew\/sp-downgrades-sl-on-debt-servicing-risks-outlook-stable\/#article","isPartOf":{"@id":"https:\/\/websitedesigns.com.au\/elankanew\/sp-downgrades-sl-on-debt-servicing-risks-outlook-stable\/"},"author":{"name":"eLanka admin","@id":"https:\/\/websitedesigns.com.au\/elankanew\/#\/schema\/person\/f6e635b74ab35ef88a68a9973cacc5bd"},"headline":"S&#038;P downgrades SL on debt servicing risks, outlook stable","datePublished":"2020-12-20T10:29:20+00:00","dateModified":"2020-12-20T10:30:51+00:00","mainEntityOfPage":{"@id":"https:\/\/websitedesigns.com.au\/elankanew\/sp-downgrades-sl-on-debt-servicing-risks-outlook-stable\/"},"wordCount":311,"publisher":{"@id":"https:\/\/websitedesigns.com.au\/elankanew\/#organization"},"keywords":["Covid 19"],"articleSection":["Articles"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/websitedesigns.com.au\/elankanew\/sp-downgrades-sl-on-debt-servicing-risks-outlook-stable\/","url":"https:\/\/websitedesigns.com.au\/elankanew\/sp-downgrades-sl-on-debt-servicing-risks-outlook-stable\/","name":"S&P downgrades SL on debt servicing risks, outlook stable","isPartOf":{"@id":"https:\/\/websitedesigns.com.au\/elankanew\/#website"},"datePublished":"2020-12-20T10:29:20+00:00","dateModified":"2020-12-20T10:30:51+00:00","description":"Govt. revenue expected to decline to below 10% of GDPEconomy projected to contract 0.3% before rebounding with 4.6% growth","breadcrumb":{"@id":"https:\/\/websitedesigns.com.au\/elankanew\/sp-downgrades-sl-on-debt-servicing-risks-outlook-stable\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/websitedesigns.com.au\/elankanew\/sp-downgrades-sl-on-debt-servicing-risks-outlook-stable\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/websitedesigns.com.au\/elankanew\/sp-downgrades-sl-on-debt-servicing-risks-outlook-stable\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/websitedesigns.com.au\/elankanew\/"},{"@type":"ListItem","position":2,"name":"Articles","item":"https:\/\/websitedesigns.com.au\/elankanew\/category\/articles\/"},{"@type":"ListItem","position":3,"name":"S&#038;P downgrades SL on debt servicing risks, outlook stable"}]},{"@type":"WebSite","@id":"https:\/\/websitedesigns.com.au\/elankanew\/#website","url":"https:\/\/websitedesigns.com.au\/elankanew\/","name":"eLanka","description":"eLanka - Sri lanka events in Australia","publisher":{"@id":"https:\/\/websitedesigns.com.au\/elankanew\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/websitedesigns.com.au\/elankanew\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/websitedesigns.com.au\/elankanew\/#organization","name":"eLanka","url":"https:\/\/websitedesigns.com.au\/elankanew\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/websitedesigns.com.au\/elankanew\/#\/schema\/logo\/image\/","url":"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2020\/03\/elanka-logo.jpg","contentUrl":"https:\/\/websitedesigns.com.au\/elankanew\/wp-content\/uploads\/2020\/03\/elanka-logo.jpg","width":192,"height":82,"caption":"eLanka"},"image":{"@id":"https:\/\/websitedesigns.com.au\/elankanew\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/eLanka.com.au\/","https:\/\/www.linkedin.com\/in\/elanka\/","https:\/\/www.youtube.com\/user\/SriLankanDownUnder"]},{"@type":"Person","@id":"https:\/\/websitedesigns.com.au\/elankanew\/#\/schema\/person\/f6e635b74ab35ef88a68a9973cacc5bd","name":"eLanka admin","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/websitedesigns.com.au\/elankanew\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/2e0d346a7f97b80e861cdeafe7b7de523b59f5060666f1a5da8369457bf9b6c3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/2e0d346a7f97b80e861cdeafe7b7de523b59f5060666f1a5da8369457bf9b6c3?s=96&d=mm&r=g","caption":"eLanka admin"},"sameAs":["https:\/\/websitedesigns.com.au\/elankanew"],"url":"https:\/\/websitedesigns.com.au\/elankanew\/author\/elanka\/"}]}},"_links":{"self":[{"href":"https:\/\/websitedesigns.com.au\/elankanew\/wp-json\/wp\/v2\/posts\/54742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/websitedesigns.com.au\/elankanew\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/websitedesigns.com.au\/elankanew\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/websitedesigns.com.au\/elankanew\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/websitedesigns.com.au\/elankanew\/wp-json\/wp\/v2\/comments?post=54742"}],"version-history":[{"count":2,"href":"https:\/\/websitedesigns.com.au\/elankanew\/wp-json\/wp\/v2\/posts\/54742\/revisions"}],"predecessor-version":[{"id":54744,"href":"https:\/\/websitedesigns.com.au\/elankanew\/wp-json\/wp\/v2\/posts\/54742\/revisions\/54744"}],"wp:attachment":[{"href":"https:\/\/websitedesigns.com.au\/elankanew\/wp-json\/wp\/v2\/media?parent=54742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/websitedesigns.com.au\/elankanew\/wp-json\/wp\/v2\/categories?post=54742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/websitedesigns.com.au\/elankanew\/wp-json\/wp\/v2\/tags?post=54742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}