Investor opinion is quite different from Moody’s opinion – State Minister Cabraal
Ajith Nivard Cabraal, Minister of State for Money, Capital Markets and Public Enterprise Reforms, said that the growth of the Sri Lankan stock market and LMD Business Confidence Index reflects the views of local and foreign investors, which is quite different from Moody’s Investors Service.
This was stated by the Minister of State at a media briefing held at the Ministry of Finance today (30). Moody’s, the world’s leading credit rating agency, announced on September 28 that it had downgraded Sri Lanka from B2 to Caa1. Minister of State Cabraal said this in response to this.
Ajith Nivard Cabraal, Minister of State for Finance, Capital Markets and Public Enterprise Reforms further stated,
“We know that for a long time there was a major crisis in policy making in Sri Lanka. That crisis was resolved after the last election. Now we have a good foundation to carry on this work. As such, there is a stability in economic policies in the country. At the same time political stability has been established. On that basis, the journey ahead will be easier for us. ”
“It’s a testament to the growth of the stock market, as well as the growth of the LMD Business Confidence Index, which reflects the views of investors in this country and around the world. It shows us very clearly their views on the direction of this country. That is very important. What we can show is that this opinion is quite different from that of the Moody’s. ”