SL at bottom in global analysis of financial strength

Saturday, 2 May 2020 01:47 - - {{hitsCtrl.values.hits}}

Sri Lanka ranked among the bottom set of countries in terms of financial strength as per an analysis done by the influential The Economist magazine.

The list, which ranked countries on the basis of public debt, foreign debt, cost of borrowing, and reserve cover of select emerging economies, ranked Sri Lanka at number 61 out of 66 countries, with it only being better than Angola, Bahrain, Zambia, Lebanon and Venezuela. Botswana came on top, followed by Taiwan.

The ranking was featured in an article titled ‘Which emerging economies are in most financial peril?’ which stated that COVID-19 hurts emerging economies in at least three ways: by locking down their populations, damaging their export earnings, and deterring foreign capital.