15 C
Ontario
Monday, October 25, 2021

Fitch Ratings: Sri Lanka’s largest banks most susceptible to heightened sovereign risk, warns Fitch Ratings


Fitch Ratings has warned that Sri Lanka’s large banks are most exposed to sovereign risk.

Sri Lanka’s largest banks are the most susceptible to heightened sovereign risk due to their higher exposure to foreign-currency denominated government securities, Fitch said in a note.

Domestic banks have significant direct exposure to the sovereign, largely via government-security holdings, as well as to the wider domestic economy and local financial markets, Fitch said.

Sri Lanka reported 259,089 total confirmed coronavirus cases as of Thursday, and 3,077 deaths, according to the health ministry’s data.

The island nation has fully vaccinated only 4.57% of its total population so far, Johns Hopkins data showed on Thursday.



Source link

Latest news

‘Let us dance’: Event organizers contend with cancellations due to no dancing rules

Live event organizers and entertainers claim many big-revenue clients have been cancelling live event bookings in large numbers after newly-announced provincial guidelines lifted...

Neha Kakkar shares ‘surreal’ photos from first wedding anniversary celebration

Singer Neha Kakkar on Monday shared a lovely glimpse of her first wedding anniversary celebration on Instagram. The beautiful pictures featured Neha along with...

Jobs, COVID-19 on the agenda as fall Alberta legislature sitting set to begin

By Staff The Canadian Press Posted October 25, 2021 9:34 am     Updated October 25, 2021 9:37 am Smaller font Descrease article font...

T20 World Cup | After historic high against India, Pakistan takes on New Zealand

Babar's team would be eyeing another big scalp in New Zealand, the team which recently withdrew from a scheduled series against Pakistan after...
Related news

‘Let us dance’: Event organizers contend with cancellations due to no dancing rules

Live event organizers and entertainers claim many big-revenue clients have been cancelling live event bookings in large numbers after newly-announced provincial guidelines lifted...

Neha Kakkar shares ‘surreal’ photos from first wedding anniversary celebration

Singer Neha Kakkar on Monday shared a lovely glimpse of her first wedding anniversary celebration on Instagram. The beautiful pictures featured Neha along with...

Jobs, COVID-19 on the agenda as fall Alberta legislature sitting set to begin

By Staff The Canadian Press Posted October 25, 2021 9:34 am     Updated October 25, 2021 9:37 am Smaller font Descrease article font...

T20 World Cup | After historic high against India, Pakistan takes on New Zealand

Babar's team would be eyeing another big scalp in New Zealand, the team which recently withdrew from a scheduled series against Pakistan after...