Sri Lanka, July 7 -- Sri Lanka is facing the second most significant deterioration in debt affordability among the non-investment grade sovereigns, amid the erosion in its revenue base and upcoming external debt maturities, according to Moody's Investors Services.
Issuing a report titled 'Non-investment grade sovereigns - Global: Coronavirus shock triggers sharp economic downturn and intensifies fiscal and external liquidity challenges', the credit rating agency forecast Sri Lanka's interest payments to the GDP ratio to increase by almost 10 percent this year.
The projected sharp deterioration in debt affordability for Sri Lanka is the second highest among 76 non-investment grade sovereigns, only behind Angola.
It noted the erosion in th...