On Wednesday, Rating organisations are kore likely to lower down Sri Lanka as an outcome of not paying for the tickets, on country’s two obligations of the government. However, according to the statement of the energy minister, the country is yet, short of money to spend for fuel.
Eversince the 1948 independence of the Country has been acted out as a severe shortage of international money, An unexpected downturn in the economy, which made it to skip payments for two tickets, on 18th of April on national bonds.
A time period of 30- days will be ending on Wednesday. Sri Lanka has been claimed earlier, that it will not be able to pay for the coupons.
Ratings have been currently fallen to ‘default,’ and the country’s rating, as a whole, could be fallen down to ‘D’ as per the Statement of S&P, the bonds’ if the payment does not get done even after the time limit is ended.
The country does not have a good amount of money to be spent for petrol expenses for the upcoming two days. Power and Energy Minister Kanchana Wijesekera gave the parliament a serious prediction.
He observed that a delivery for petrol has been stucked at the port of Colombo, from the month of March 28 but that the authorities have not been able to spend or pay.
“There isn’t too much money present to open credit facilities.” According to his explanation.
“We’re trying to boost up the finances, but gasoline will not be affordable for people till almost a week.”
